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Majority of Chicagoans Now Live in Rental Housing

by Peter Thomas Ricci

Just how dramatic has housing shifted towards rentals, in the last seven years?

nyc-furman-center-rental-housing-owner-units-real-estate-trends

Fifty-two percent of Chicago residents now live in rental housing, up from 46 percent in 2006; as if that weren’t enough, the renter population in Chicago is up 12 percent in the last seven years, and while construction of rental units is up 10 percent, construction of owner units is down 13 percent.

Those were some of the findings in a hugely informative study from the NYU Furman Center, which set out to chronicle the U.S. trend away from ownership and towards renting; we’ve long heard that major U.S. cities were embarking on such trends, the Furman Center study has shed a new light on just how pronounced that transformation has been.

See our infographic below for more details:

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