Affordable housing in Chicago (and across the country) rests on a key calculation: the area median income, which determines eligibility for a range of housing programs.
Chicago’s current area median income should be redefined to exclude suburban and regional counties, according to an analysis by the Chicago Rehab Network. The nonprofit focuses on housing and community development.
Executive Director Kevin Jackson presented the analysis Thursday at a meeting of the Committee on Housing and Real Estate at City Hall. Including wealthier suburban and regional counties in the calculation of area median income “significantly diverts affordable housing resources away from households who need it most,” according to the analysis.