In 2025, the federal government increased tariffs—or taxes on items imported from other countries—to their highest level since the 1930s. The “effective tariff rate,” or revenue divided by imports, jumped from 3 percent to about 10 percent. After the U.S. Supreme Court struck down most of the hikes in February 2026, the Trump administration responded […]
Champaign County, Illinois, is facing a housing shortage that has caused home prices and rents to rise, leaving many families unable to find or afford housing. The median sales price of a home in Champaign County has increased by 14 percent over the past year and 44 percent of renters in the county are “costburdened,” […]
Illinois is facing a housing shortage that has fueled increases in home prices and rental rates and negatively affected the economy. With home prices rising by 9 percent and asking rents increasing by as much as 10 percent across Illinois in 2024, this report explores the severity of the housing shortage and housing affordability issue […]
Higher earnings for Illinois workers resulting from a minimum wage increase stand to have impacts on their ability to sustain families and cover expenses. The greatest impact, however, might be in housing affordability. Housing costs, whether in the form of rent or mortgage payments and maintenance costs, make up the largest monthly expense for most […]