Northwest Herald | McHenry County continues to lack affordable housing

By BRETT ROWLAND -

The fair market rent for a two-bedroom apartment in McHenry County was $958 in 2012, according to the Analysis of Impediments to Fair Housing Choice study. That would require earning $38,320 a year – or about $18 an hour – to afford without spending more than the recommended 30 percent of income on housing

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From 2000 to 2009, the county lost nearly a third of its housing units that cost less than $500 a month. During the same period, the number of units renting for more than $1,000 a month increased by nearly 200 percent, according to the housing study…..

High property taxes and limited space for affordable developments have contributed to the county’s dearth of affordable housing.

The annual median property-tax levy for a home at the county’s median value is nearly $5,000, or 6 percent of median household income, according the study. Only 30 other counties in the country have a higher property tax as percentage of median income, according to the report

 

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