Where is displacement a concern in Chicago? View different levels of displacement and lost affordability pressures at the neighborhood level and learn about strategies to preserve housing affordability in areas with different levels of displacement risk. Read the full report »
Neighborhoods in this category include areas surrounding The 606 in Logan Square and Humboldt Park; the Medical District on the Near West Side; and areas in west Logan Square, Avondale, Irving Park, Albany Park, and Edgewater.
These areas have the highest values in the city and are experiencing higher than average recent increases in sales prices.Assessing vulnerability
These areas have a high share of lower-income renters, families, and seniors who are vulnerable to displacement when costs increase.
Households already struggle with cost-burden, meaning they spend a substantial amount of their income on housing. Due to already high and rising housing costs, displacement is likely already occurring in these areas.
Turnover of naturally occurring affordable apartments may lead to building improvements that push rents higher. Landlords may also raise rents due to increased demand from higher-income households.
High demand for market-rate housing in these areas creates opportunities for policies leveraging that demand to build and preserve affordable units.
Implement policies that create affordable housing as new market-rate housing is built. Policies such as inclusionary zoning, can provide some economic integration in a high-cost market and support the production of new affordable units even as the naturally occurring affordable housing stock disappears.
Create financing vehicles that support mission-driven developers to acquire and maintain affordable units. Maintain the naturally occurring affordable housing stock by helping mission-driven developers access capital to more competitively acquire and preserve affordable units. By preserving currently affordable units and maintaining existing tenants, potential displacement of vulnerable residents can also be mitigated.
© 2017 Real Estate Center's Institute for Housing Studies. This project was made possible by the generous support of the Polk Bros Foundation, as well as continued support from the John D. and Catherine T. MacArthur Foundation, The Chicago Community Trust, and PNC Bank Foundation.