(The Center Square) – Elected officials are looking for answers to Illinois’ low number of new homes.
Recently seated state Rep. Regan Deering, R-Decatur, said it is apparent that Illinois has a housing crisis.
“Metropolitan areas in the 80th House District, you’re looking at Decatur, Bloomington-Normal, all local levels of government are also talking about housing, affordable housing, accessible housing,” Deering told The Center Square.
Deering said she looks forward to working with her new colleagues on the issue.
“One of my goals in serving is getting all of us around the table to really talk about solutions, you know, what’s worked well, how can we bring together those public-private partnerships,” Deering added.
Gov. J.B. Pritzker said Illinois’ housing inventory rebounded from supply chain and construction issues slower than the national average over the past five years.
“From 2019 to 2024, we experienced a 67% decrease in inventory of homes for sale. At the same time, median list prices in Illinois increased by 26%,” Pritzker said last month.
Illinois also has among the highest property taxes in the nation.
The governor said nearly one-third of Illinois households spend 30% or more of their income on housing.
“The official classification calls this ‘burdened by housing costs,’” Pritzker added.
Affordable new homes are especially scarce in and around Chicago.
According to a recent study by Construction Coverage, newly built homes represent just 5% of all home sales in the Chicago metro, the 15th-lowest share in the country.
The report found that new homes in and around Chicago cost 65% more than average compared to all homes. Nationally, newly built home buyers pay 16% more.
Construction Coverage also found that homeownership among Americans ages 35–54 dropped from 42.3% in 2008 to 34% in 2023. The 55+ cohort saw a rapid increase from 44.3% to 54% over that span.
According to the report, baby boomers account for 19.5% of the Chicago metro population and 35.3% of Chicago metro homeowners.
“Young adults are leaving their communities, the ones they grew up in, because they can’t afford to rent or buy a home,” Pritzker said.
The governor signed an executive order last month to appoint a housing solutions director.
“Across every relevant state agency, we will identify and eliminate unnecessary barriers to housing construction,” Pritzker said.
Kevin Bessler contributed to this story.
