Chicago Programs Helping to Expand the Supply of 2 to 4 Unit Properties in Black and Latino Neighborhoods

One of the key conclusions of our latest report, Recent Homebuying Patterns for 2 to 4 Unit Properties was the importance of 2 to 4 unit buildings for Black and Latino homebuyers. The study found that Black and Latino homebuyers were more likely to purchase 2 to 4 unit properties compared to other borrowers and that there was strong demand for owner-occupied 2 to 4s in neighborhoods on the South and West Sides of the city. However, in recent years, the supply of 2 to 4s in many Chicago neighborhoods has shrunk, highlighting an urgent need to preserve and expand their number.

This blog reviews several programs in Chicago that showcase efforts to create a supply of affordable, for-sale housing in neighborhoods that have struggled for decades with disinvestment-related challenges. While these programs are not exclusively focused on 2 to 4s, they can be leveraged to preserve existing 2 to 4s, rehab vacant ones, or build new affordable buildings to broaden housing options for future homebuyers.