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Chicago Class A Multifamily
Market Update – 2025 Mid-Year Review

Download our Chicago Class A Multifamily Market Update — 2025 Mid-Year Review for an inside look at key trends shaping the Chicago apartment market.

The report dives deep into trends, exploring submarket variations, the impact of seasonality, and the influence of income qualifications on renter choices. It also provides critical guidance on revenue management, resident retention, and navigating the evolving renter landscape. Developers and investors who understand the newest renter trends can position themselves for success in an increasingly competitive landscape.

Download the 2025 Mid-Year Market Update

Stay Ahead of the Market

The Downtown Chicago Apartments 2025 Mid-Year Market Update covers:

  • Data-driven insights into rent trends and demand drivers
  • Submarket performance breakdowns to identify key opportunities
  • Strategic considerations for developers and investors
  • Forward-facing projections for the remainder of 2025 and beyond

With limited new inventory and increasing demand, momentum is strong for downtown Chicago apartments.

Inside the Report

  • Surging Rents: Average gross rents rise 4.1% year-over-year, surpassing $3,200 for the first time ever.
  • Gross PPSF Rises: PPSF increased from $3.96 to $4.11 (+3.8%), with all submarkets posting YoY increases.
  • Supply Constraints: Absorption was down 1.1%  in Q1 and Q2 2025 due to limited supply and minimal lease-up activity. 
  • 1 Bedroom Demand: Representing 48% of all rentals, 1 bedroom gross rents were up 4.5% year-over-year, above $3,000 for the first time ever.

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