According to Open the Books, in its comparison of home price increases and income increases from 2015 to 2024, Illinois comes out pretty well.
“Open the Books examined a decade worth of public data comparing the change in state-by-state median household incomes (U.S. Census Bureau) with the home price index (HPI) which is tracked and tabulated by the Federal Housing Finance Agency (FHFA).
In all 50 states the average home price grew faster than median household incomes during the 10-year window we examined, which was 2015 to 2024.
“That difference in the rate of growth is what we’re calling the Affordability Gap…
:The states with the top 10 highest Affordability Gaps are in fact geographically diverse and ideologically moderate or conservative. The top 10 were: Idaho, Florida, Utah, Tennessee, Arizona, New Hampshire, Nevada, Maine, and Washington state.”
Illinois is among the lowest ten states.
