Illinois housing crunch sees prices rising, units dwindling

(The Center Square) – With Illinois facing a housing shortage fueled by dwindling availability and rising prices, Illinois Policy Institute researcher LyLena Estabine argues every resident can point the finger toward lawmakers in Springfield.

“There are a lot of regulations that unnecessary hold up housing supply here in Illinois and don’t allow builders to build the diverse housing that we need in the state to meet a variety of needs,” Estabine told TCS. “They could allow for more duplexes to be built, for granny flats to be built in people’s backyards and they could also allow for multi-unit buildings, in a lot of places in Illinois only single-family houses are permitted.”

New data shows housing values have jumped by more than 44% over the last six years with a home that cost $191,454 in 2019 now hitting the market at $277,191. Across the board, data shows every area of the state has seen spiraling price growth as fewer properties have become available to families that may be in the market.

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