• Home prices in Naperville have risen dramatically. The median home price in Naperville increased 50% in just six years (2000 to 2006). The current median home price is about $445,000—far out of reach for many young families, seniors, police officers, nurses, and city workers.

• Home prices outpace incomes. Income growth has not kept pace with increased housing costs in Naperville. Income levels grew just over 5.1% between 2000 and 2005 while home values increased by about 42% during the same period.

• Many homeowners in Naperville struggle. About 29% of Naperville homeowners are routinely allocating too much of their income towards housing costs. About 68% of Naperville homeowners earning under $50,000 pay more than 30% on housing costs.

• Communities like Naperville have already begun to address this shortage of moderately priced housing. Naperville could consider a number of tools that have been used successfully around the region and country to create and preserve more moderately priced homes.




Click here for article entitled, "Brainstorming begins on area housing needs."