McKinley Park News - Housing - Page 5

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: McKinley Park Existing Conditions Report (2019)

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A balanced housing supply helps to ensure that households of all income and age groups have access to the assets in McKinley Park and the larger Chicago region. A mix of housing types is needed to allow residents to age in place and provide homes for members of the community as their housing needs change. Understanding the current housing supply as well as potential future demand will help McKinley Park develop a balanced mix of housing that serves current and future populations and enhances livability.

Approximately 72 percent of housing units in McKinley Park are single-family or two-flat multi-family compared to 44.4 percent in the City of Chicago (see Table 2.5). The study area has a larger share of owner-occupied than the city as a whole, approximately 55.3 percent of households are owner-occupied and 44.7 percent are renter-occupied. The opposite is true for Chicago where 44 percent of households are owner-occupied and 56 percent are renter occupied. McKinley Park has more households in the middle-income brackets than the City of Chicago (see Figure 2.5). The proportion of owner-occupied units is also higher than in Chicago in every income bracket except for those households making more than $150,000 a year, see Figure 2.6. Renter-occupied units are slightly similar in proportion (33.8 percent) in these lower income brackets compared to Chicago (35.4 percent).

Table 2.5 Housing Type (Units) by Community Area, 2016

	McKinley Park		Bridgeport	New City	Brighton Park	South Lawndale	Lower West Side
	Count	Percent	Percent	Percent	Percent	Percent	Percent
Single-family	2,032	36.3%	30.6%	25.1%	25.5%	19.8%	13.5%
Two units	2,011	36.0%	24.7%	39.4%	46.4%	37.8%	25.2%
Multi-family 3 - 4 Units	923	16.5%	28.5%	26.2%	24.9%	28.8%	32.0%
Multi-family 5+ units	610	10.9%	16.1%	9.1%	2.9%	13.3%	29.2%