Illinois
Ranked #27 of 51 for housing affordability
Median Home Price
🏠$263K
3.28x income
Median Rent
🔑$1,238
32.5% rent-burdened
Median Income
💰$80K
Population: 12,582,032
Homeownership
🏡67.0%
9,551 experiencing homelessness
Housing Shortage
📉120,000
units needed
Building Permits (2024)
🔨20,326
Price-to-Income
📊3.28x
Severe Rent Burden
⚠️16.2%
paying >50% of income
Rent Burden Breakdown
vs. National Average
House Price Index (2000–2025)
FHFA All-Transactions HPI · Base = 100 (1980s)
HUD Fair Market Rents (FY2026)
Maximum rent HUD considers fair for Section 8 voucher holders
FMR ($1556) is above the state median rent ($1238) — vouchers cover typical rents.
Metros in Illinois
| Metro | Score | Home Price | Rent | Income | Rent Burden |
|---|---|---|---|---|---|
| Chicago | 52 | $317K | $1,390 | $87K | 32.5% |
| Peoria | 97 | $161K | $899 | $69K | 25.5% |
| Rockford | 95 | $170K | $991 | $67K | 24.9% |
| Champaign-Urbana | 87 | $207K | $982 | $62K | 25.5% |
| Bloomington | 93 | $211K | $1,013 | $77K | 24.7% |
| Kankakee | 93 | $183K | $1,058 | $67K | 20.8% |
Market Trends
Homeownership Rate
67.0%
Rent-to-Income Ratio
18.0%
of gross income spent on rent
Total Households
5,071,288
Owner-Occupied
3,416,749
Renter-Occupied
1,654,539
Homelessness
Latest Count (2024)
25,832
1-Year Change
+116.2%
10-Year Trend (2015–2024)
+96.0%
13,177 → 25,832
Housing Policies
Construction Activity
Total Permits (2024)
20,326
1.5% of national total
Single-Family
10,326
51% of state permits
Multi-Family
10,000
49% of state permits
Mortgage Access
National HMDA data — mortgage denial rates by race/ethnicity
Denial Rates by Race
Top Denial Reasons
Housing Shortage
State Shortage
120,000
units needed
National Shortage
7,300,000
1.6% of national total
Affordable Units per 100 ELI Renters
35
nationally (NLIHC)
National Shortage by Unit Type
45%
Single-Family
18%
Small Multi (2-4)
22%
Medium Multi (5-49)
15%
Large Multi (50+)
Rent Burden Detail
Illinois burden rates with national demographic breakdown
Cost-Burdened Renters
32.5%
paying >30% of income
Severely Burdened
16.2%
paying >50% of income
Households >30% Burden
369,528
Households >35% Burden
116,173