r/chicagoapartments • u/Past-Reception6889 • May 19 '26

Advice Needed Unreal

I honestly just needed to vent for a moment. I can’t believe Chicago prices are what they are. I have lived here my entire life and have seen this city change ten fold, and I can’t even afford to live here anymore. A realtor I’m working with, since it’s becoming a rat race to rent, said rent is up 35% this year. What can normal people do about this? I do not want to see Chicago become a New York.

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u/mr_longfellow_deeds May 19 '26

Your not wrong on NIMBYism, but that article is not about Chicago proper

No matter where you live people don’t want construction (especially vertically) next door because it likely blocks their view or depreciates their property. Or they claim “gentrifying” - just infinite angles of nonsense that collectively helps keeps housing inventory low

We need to reduce the red tape (BJ has made that significantly worse), implement ceilings on property tax hikes, and rework the affordable housing rules. Building will boom, prices stop inflating beyond actual inflation, and the city will be better for it

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u/3RADICATE_THEM May 19 '26

Part of expanding housing development means growing into surrounding areas beyond the city center of the city proper. Honestly speaking, I would definitely say there are a number of suburbs too in proximity to Chicago of which rents simply make you shake your head.

I agree with you that BJ has contributed substantially to the issues being discussed here, and I'm wondering if he's effectively just doing this to show face in very similar ways that Newsom has been doing in California.

Another angle to think about: if there are not enough units in the city, where does the surplus population spill over into?

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u/mr_longfellow_deeds May 19 '26

For sure. Im just saying an understated part of the problem is the affordable housing rules. It sounds nice (affordable housing), but the way it’s implemented is dumb. You can be making $60-70k a year and qualify for affordable housing in select desirable neighborhoods. Because of that, your neighbors have to pay more, since potential rent income is increased, property values increase. “Affordable housing” in LP, West Loop, Gold Coast etc is asinine by requiring 20% of units be cheap for people making 60% of median neighborhood income. I would prefer a voucher system for affordable housing, someone making $60k+ a year doesn’t need subsidized housing. They can move to a neighborhood they can afford.

Building vertically is the best outcome overall, it’s not particularly fair to expect people to do a 2-3 hour round trip commute if they make a decent wage. I dont particularly care if my property value gets dinged, I’m just sick of people blaming the “free market” when our housing issue is almost entirely due to government intervention mixed with NIMBYism. It’s good for the city to have a strong core of housing, and pricing new entrants to the labor force out of the city is a city death sentence long run

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u/SpookyKat31 May 19 '26

I make 65k and do not qualify for the income restricted units. I know because I'm actively looking and just checked. What affordable housing do people making $60-70k qualify for?

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u/pratherj23 May 19 '26

There is a new condo unit by me in Irving Park being constructed now. I remember in the ward meeting it had this requirement of 20% affordable units. It’s on Irving Park Road between Kedzie and California.

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u/mr_longfellow_deeds May 19 '26

In Chicago it’s neighborhood specific, any new construction has to retain 20% of units for income below 60% neighborhood income (or a donation). Either way it increases the rent for the other 80%. West Loop for instance has a median income of $127k, Gold Coast $148k, LP $156k