By the Numbers
The supply of affordable rental housing is not keeping pace with demand
In 2009, there was a shortage of 180,000 affordable rental units in Cook County, an increase of 9.1 percent since 2005.
The affordable rental housing supply gap is likely to grow larger
Cook County will need an additional 44,000 affordable housing units by 2020.
Rents are increasing
Cook County has seen a net increase in rents since 2005. Real median rents rose 14.1 percent in Chicago and 13.3. percent in the suburbs between 2005 and 2010.
Households needed to earn approximately $40,000 per year
to afford a median priced two-bedroom rental apartment ($1,000 per month) in 2010.
Young renters and less affluent renters are hardest hit.
More than three-quarters of households making $20,000-35,000 yearly pay more than 30 percent of their income for rent.
Rental foreclosures have directly affected more than 97,000 units.
In many cases, tenants are evicted and many foreclosed buildings end up abandoned or in disrepair.