Glenview saw a 173 percent bump in rentors between 2000 and 2011, while the number of homeowners who had to spend at least 35 percent of their income on mortgage costs almost doubled, according to the 2000 U.S. Census and 2007-2011 American Community Survey data, the Chicago Tribune reports.
While Illinois suggests at least 10 percent of a community's real estate and apartment market fits within the "affordable" range, Glenview already had 12.4 percent of its market in the "affordable" range when the Illinois Housing Development Agency evaluated the village in 2004, the Chicago Tribune reports.
The U.S. Department of Housing and Urban Development defines affordability as a household that pays 30 percent or less of its annual income on housing.
Do you think Glenview needs more affordable housing options? Has rising housing costs or shrinking incomes created a burden for local homeowners?