2019 Downtown Aurora Housing Study (City of Aurora, prepared by Zimmerman/Vol Associates, Inc.)

The Downtown Aurora Housing Study (2019), conducted by Zimmerman/Volk Associates, analyzes the residential market potential in Downtown Aurora, Illinois, over a five-year period. The study identifies an annual average of 3,040 households that could move into the area, with about 2,150 interested specifically in higher-density housing types such as apartments, lofts, and townhouses. These households largely consist of younger singles and couples (65%), followed by empty nesters and retirees (24%), and a smaller portion of traditional and non-traditional families (11%).

The report highlights a strong preference among these groups for walkable, urban neighborhoods, aligning well with Downtown Aurora’s assets—such as the Fox River, historic architecture, arts venues, and Metra access. The market for new units is diverse in terms of affordability, with potential renters mostly in the $750–$1,500/month range and for-sale units ranging from $150,000 to $300,000. Rental housing is projected to be in the highest demand, followed by townhouses and condominiums. The study estimates Downtown could absorb between 198 and 252 new housing units per year.

Current rental properties in and near Downtown have high occupancy rates, showing an undersupply of modern rental units. Most new residential development should focus on multi-family buildings with modern amenities, emphasizing energy efficiency, connectivity, and pet-friendly features. Proposed unit types include lofts, soft lofts, courtyard apartments, and townhouses designed for walkability and urban integration.

Overall, the study suggests that Downtown Aurora is well-positioned for residential growth, driven by demographic trends and an increasing preference for urban lifestyles. It emphasizes that new housing can support local businesses, preserve population diversity, and contribute to downtown revitalization—making this a key opportunity for both city planners and local stakeholders.

CLICK HERE TO SEE THE FULL REPORT