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| Details |
Number and Percent of Owner-occupied or Renter-occupied housing units affordable for families at 30%, 50%, 60%, 80% and 120% of AMI |
| Topics |
Area Median Incomes, affordability, housing, home ownership |
| Source |
PolicyMap, Census, HUD |
| Years Available |
2019-2023 |
| Geographies |
Block group, Census tract, Census Place, County, State |
| Public Edition or Subscriber-only |
Subscriber-only |
| Download Available |
no |
| For more information |
http://www.huduser.org/portal/datasets/il.html |
| Last updated on PolicyMap |
February 2025 |
Description:
PolicyMap created indicators on Home Ownership and Rental Affordability using data on incomes, housing values, and rental costs published by HUD and the Census Bureau. Rental Affordability calculations assume that a family can afford to spend 30% or less of their income on rent, which corresponds to the threshold for housing cost burden as defined by the Census Bureau. This translates to 1/36th of the family’s annual income each month. For example, a family of four with an income of $30,000 could afford to rent a two-bedroom apartment for $750 or less per month. Due to a limitation in ACS 5-year gross monthly rent estimates, gross monthly rent is only calculated for rental units that were less than $1,500 per month, regardless of rental unit size. Since affordability of units over this limit cannot be estimated rental units with monthly rents greater than $1,500 were not included in these rental affordability calculations. This likely leads to undercounting of affordability in areas with higher median incomes and housing costs, as well as for families that typically require larger housing units.
Home Ownership Affordability estimates assume that a family can afford to purchase a home valued at three times their annual salary. This means that a family of four with an income of $30,000 could afford to purchase a home valued at less than $90,000. These estimates can be used to compare the relative affordability of the housing stock in different areas, or to determine whether the existing housing stock in an area is sufficient to meet the needs of low- or middle-income residents.
The 2019-2023 calculations rely on HUD’s FY2023 Area Median Income (AMI) data. The 30%, 50% (Very Low Income), and 80% (Low Income) of median income by family size as well as the overall area median income are provided by HUD. PolicyMap calculated 60% of Area Median Income by multiplying the 50% threshold by 1.2 and calculated 120% of AMI by multiplying the 50% threshold by 2.4, per instructions in the Low Income Housing Tax Credit (LIHTC) legislation, on HUD’s website, and in communications between PolicyMap and the HUD User electronic help desk resource. Counts of owner- and renter-occupied housing units by value or rental price were obtained from the Census Bureau’s 2019-2023 American Community Survey. Census tracts and block groups show reduced data availability compared to the previous 2017-2021 period.
Available Data Layers & Indicators (27)
| Number of all homes that are likely affordable for a 4-person family earning 100% of AMI between 2019-2023. |
| Number of all homes that are likely affordable for a 4-person family earning 80% of AMI between 2019-2023. |
| Number of all one-bedroom or studio rental units that are likely affordable for a 2-person family earning 100% of AMI between 2019-2023. |
| Number of all one-bedroom or studio rental units that are likely affordable for a 2-person family earning 80% of AMI between 2019-2023. |
| Number of all three or more bedroom rental units that are likely affordable for a 6-person family earning 100% of AMI between 2019-2023. |
| Number of all three or more bedroom rental units that are likely affordable for a 6-person family earning 80% of AMI between 2019-2023. |
| Number of all two-bedroom rental units that are likely affordable for a 4-person family earning 100% of AMI between 2019-2023. |
| Number of all two-bedroom rental units that are likely affordable for a 4-person family earning 80% of AMI between 2019-2023. |
| Percent of all homes that are likely affordable for a 4-person family earning 100% of AMI between 2019-2023. |
| Percent of all homes that are likely affordable for a 4-person family earning 120% of AMI between 2019-2023. |
| Percent of all homes that are likely affordable for a 4-person family earning 50% of AMI between 2019-2023. |
| Percent of all homes that are likely affordable for a 4-person family earning 80% of AMI between 2019-2023. |
| Percent of all one-bedroom or studio rental units that are likely affordable for a 2-person family earning 100% of AMI between 2019-2023. |
| Percent of all one-bedroom or studio rental units that are likely affordable for a 2-person family earning 30% of AMI between 2019-2023. |
| Percent of all one-bedroom or studio rental units that are likely affordable for a 2-person family earning 50% of AMI between 2019-2023. |
| Percent of all one-bedroom or studio rental units that are likely affordable for a 2-person family earning 60% of AMI between 2019-2023. |
| Percent of all one-bedroom or studio rental units that are likely affordable for a 2-person family earning 80% of AMI between 2019-2023. |
| Percent of all three or more bedroom rental units that are likely affordable for a 6-person family earning 100% of AMI between 2019-2023. |
| Percent of all three or more bedroom rental units that are likely affordable for a 6-person family earning 30% of AMI between 2019-2023. |
| Percent of all three or more bedroom rental units that are likely affordable for a 6-person family earning 50% of AMI between 2019-2023. |
| Percent of all three or more bedroom rental units that are likely affordable for a 6-person family earning 60% of AMI between 2019-2023. |
| Percent of all three or more bedroom rental units that are likely affordable for a 6-person family earning 80% of AMI between 2019-2023. |
| Percent of all two-bedroom rental units that are likely affordable for a 4-person family earning 100% of AMI between 2019-2023. |
| Percent of all two-bedroom rental units that are likely affordable for a 4-person family earning 30% of AMI between 2019-2023. |
| Percent of all two-bedroom rental units that are likely affordable for a 4-person family earning 50% of AMI between 2019-2023. |
| Percent of all two-bedroom rental units that are likely affordable for a 4-person family earning 60% of AMI between 2019-2023. |
| Percent of all two-bedroom rental units that are likely affordable for a 4-person family earning 80% of AMI between 2019-2023. |
