Chicago’s multifamily market is currently outpacing the nation in rent growth, with year-over-year asking rents rising by 3.7% at the end of the third quarter. This marks a notable acceleration from the 2.6% growth recorded at the same time in 2024, representing an increase of over 100 basis points. Nationally, rent growth remains subdued at just 0.6%, placing Chicago firmly at the top among the 25 largest markets.
Chicago leads the nation in apartment rent growth amid tight supply
Limited new supply and rising demand are setting the pace in the Windy City
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