By Keira Alvarez
@redlineproject
There has been increased pressure in recent years to build affordable rental buildings in Chicago as increasing rents and dwindling supply have pushed housing instability for residents.
The Chicago rental market has remained ridiculously pandemic-plagued and unpredictable from 2020 to 2024 with the COVID-19 pandemic, inflation, and general changes in the economy over the years. Although housing rent decreased briefly during early pandemic months, they’ve risen exponentially once again, and even surpassed higher-than-pandemic levels in some neighborhoods.
Chicago’s median rent increased over 20% from 2021 to 2023 with double-digit increases in traditionally low-income communities like Pilsen, Albany Park, and South Shore. It has placed working-class budgets—already many of which were rent-burdened—at more than 30% of income on housing.
With this information in mind, these data points will show everywhere in Chicago that shows affordable rental housing developments.
Private developers, community organizations, and municipal government have opened or expanded numerous affordable housing programs. The Affordable Requirements Ordinance and the City of Chicago’s “Invest South/West” initiative sparked mixed-income development and the realization of affordability in gentrifying neighborhoods. Upcoming projects—such as the 43 Green project in Bronzeville, and Encuentro Square in Logan Square—are among the initiatives for community-driven affordable housing that is inclusive and transit-oriented.
Despite all these efforts, demand outweighs supply. As of 2024, a study done by DePaul estimates that over 120,000 low-income households in Chicago are in need of affordable rentals/housing. In order to address this issue the city needs long-term funding, rules that require affordable housing in new developments, and policies that protect existing affordable homes.
However as Chicago continues to evolve, inexpensive housing rents will be at the top of the city’s resilience — offering all of its residents, regardless of income, stable, safe, and dignified housing.
Read More
Read the other stories in our five-part series about Chicago housing issues.
Coverage: The City’s Rental Crisis | Chicago Facing an Affordable Housing Crisis | 2025 project overview
Opinion: A Legacy of Discrimination: Chicago’s Housing Bias | Quiet Displacement: Chicago’s Affordable Housing Crisis
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