For the first time in over 10 years, Chicago passed the national average for year-over-year apartment rental growth as relatively mild construction has kept demand high, while a national pullback in rents caused by overbuilding has allowed it to leapfrog once-surging markets.
Chicago’s Apartment Rent Growth Surpasses National Average for the First Time in Over a Decade
Tight Multifamily Supply, Not New Construction, Makes the Windy City a Rental Growth Leader
By Rhea Stephen
CoStar Analytics
March 14, 2023 | 4:26 P.M.
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IN THIS ARTICLE
- Properties
- Porte Apartments
855 Madison St, Chicago, IL
- Contacts
- Matthew Berry
Principal, Wayland Real Estate Capital