Resources

Chicago Class A Multifamily
Market Update – 2025 Year in Review

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

The report dives deep into trends, exploring submarket variations, the impacts of extremely limited supply, 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 Year in Review Market Update

Stay Ahead of the Market

The Downtown Chicago Apartments 2025 Annual 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 2026 and beyond

With historically low new deliveries, rising retention, and sustained demand, momentum remains strong for downtown Chicago’s Class A apartment market.

Inside the Report

  • Record Rents: Average gross rents surpassed $3,200 in 2025, rising 5.2% year-over-year and crossing new pricing thresholds across every major submarket.
  • Leasing Volume Compression: Total rental volume declined 8.2% in 2025 as increased retention and limited new supply reduced available inventory.
  • Elevated PPSF: Average PPSF increased from $3.94 to $4.12 (+4.6%), with all submarkets posting YoY gains ranging from 3% to 8%.
  • Supply-Constrained Market: With historically low new deliveries and availability down more than 30% year-over-year, 2025 marked a structurally tight market, supporting continued rent growth, high retention, and limited reliance on concessions.