Today the National Low Income Housing Coalition (NLIHC) released “Out of Reach 2025: The High Cost of Housing.” This new report highlights the significant gap between wages and the income necessary to afford housing. Below is a link to the data for Illinois.
https://nlihc.org/oor/state/il
For over 35 years, NLIHC’s Out of Reach report has called attention to the disparity between wages and the cost of rental housing in the U.S. Each year the report has shown that affordable rental homes are out of reach for millions of low-wage workers, seniors, families, and other renters. The report’s central statistic, the Housing Wage, is an estimate of the hourly wage a full-time worker must earn to afford a modest rental home at HUD’s fair market rent (FMR) without spending more than 30% of their income on housing costs – the accepted standard of affordability. The FMR is an estimate of what a family moving today can expect to pay for a modestly priced rental home in a given area.
Additional nationwide information can be found here: Out of Reach 2025: The High Cost of Housing.