Affordable Housing Lags as Rental Market Caters to Millennials

Report reveals changing market and rapidly growing need for affordable apartments

On May 11, 2016, Preservation Compact partner the Institute for Housing Studies at DePaul University released a report that underscores the importance of preserving affordable rental housing. The report shows that rental housing affordability remains a substantial challenge across Cook County. The gap between affordable rental supply and demand remains high, at 168,000 households, and the number of extremely low income households who are rent burdened has increased by 10 percent. The Preservation Compact was noted by DePaul in its accompanying blog for our preservation strategies. See additional coverage from Crain’s here, and read more on the report from The Preservation Compact.