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Despite Population Loss in Illinois, Demand for Chicago's Apartments Remains High

Chicagoland Seeing More Household Formation, Controlled Development and Lower Availability
Multifamily demand across Chicagoland remains strong even as the area sees a decrease in population levels. (CoStar)
Multifamily demand across Chicagoland remains strong even as the area sees a decrease in population levels. (CoStar)
CoStar Analytics
August 24, 2022 | 5:31 P.M.

According to Placer.ai’s Domestic Migration Trends – June 2022 report, Chicago registered approximately 2.3% in population losses from 2018 through early 2022. The report stated, specifically, that metropolitan areas with dense office usage faced the most population erosion as remote work was established as a new norm. It also stated that Illinois recorded more attrition than New York and California.

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