Illinois home prices have jumped 48% since 2018 while available housing inventory has plummeted across all 26 tracked metro areas, creating a housing crisis driven largely by restrictive zoning laws and the nation’s highest property taxes.
As housing prices continue to soar out of reach for more Americans, an impulse from policy makers across the country has been to attempt to mandate “affordable” prices through legislation. One common idea is rent control, which limits how much landlords can increase rents on residents. A related one is inclusionary zoning, which forces developers...
Policies that make building expensive have continued to choke Illinois’ housing supply, pushing more families away with high prices. Nearly $90K has been added to the average house price since 2018.
Published Jan. 23, 2025 Chicago’s 2020 Additional Dwelling Unit Ordinance, while well-intentioned, has stifled development. Despite 71% of Chicagoans being in favor of putting additional dwelling units on existing residential lots – higher than the national average – restrictive and inequitable regulations have ensured very few are built.1 Only 44% of pre-approved applications have received...