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How Housing Affordability is Worsening in Chicago

by Peter Thomas Ricci

In case you were wondering, our housing market continues to get less affordable, not more.

In the last year and a half, housing affordability in America has dramatically fallen, and our local metro is no exception.

We recently reported that NAR’s Housing Affordability Index has fallen 28.2 percent since Jan. 2013, and is now at its lowest level since 2008, but new data from Trulia shows that homeowners are hardly the only ones feeling the affordability crunch – and if anything, the nation’s surging rental markets, especially here at home, are creating an even more challenging situation for consumers.

See our graph below to find out how:

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