Illinois Renters’ Income Not Keeping Pace With Housing Costs

Oct 29, 2015

More than half of the renters in Illinois are spending a burdensome portion of their income on housing, according to a new study.

Credit Flickr user 401(K) 2012 / "Money" (CC v. 2.0)

In 2014, 50.2% of Illinois renters spent more than 30 percent of their income on housing. That’s a burden, according to a study by apartmentlist.com.

Using census data from 2007 to 2014, the study found that only 47.4% of Wisconsin renters fall into that category, and a mere 43.9 percent of Iowa renters fit the definition.

Nationwide, 51.8% of renters are cost-burdened.

South Dakota had the smallest portion of burdened renters at 39.3%. Florida has the highest portion, at 57.9%, the study says.

The study also found that renter income, adjusted for inflation, has not grown since 2001. Rents, however have increased steadily and rose twice as much as overall inflation last year.