According the report released by the Brookings Institution, between 2012 and 2017, Chicago had a net loss of 13,757 millennials.
That happens mostly due to the cost of living, said Dr. Teresa Cordova of the University of Illinois at Chicago’s Great Cities Institute.
“We need to find ways to make housing more affordable; not just building affordable housing units, but actually bringing down the cost of housing,” Cordova stated, pointing the Chicago real estate prices and taxes, which have skyrocketed during the recent months. Ultimately, that brought the city to a point where it became really hard for it to retain its local talent.
Additionally, according to UIC, seniors are actually leaving Chicago as well. In recent years, the city lost 19,000 residents over the age of 55.