Illinois Home Prices Soar, Driving Young People Away
Fort Wayne News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Illinois Home Prices Soar, Driving Young People Away: A Housing Crisis Unfolds
Home prices in Illinois have skyrocketed by 49% since 2019, reaching an average of $277,483. This surge coincides with a steep decline in available homes, now at just 32% of pre-pandemic levels, half the national average. In at least 26 metro areas, including Chicago, the lack of new construction is pushing young people to states with more housing options. Experts attribute this crisis to sky-high property taxes and strict zoning rules. Governor Pritzker acknowledged the issue, but solutions remain uncertain.
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