Resources

Chicago Class A Multifamily
Market Update – 2026 Mid-Year Review

Download our Chicago Class A Multifamily Market Update — 2026 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 2026 Mid-Year Market Update

Stay Ahead of the Market

The Downtown Chicago Apartments 2026 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 2026 and beyond

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

Inside the Report

  • Record Rents: Average gross rents rose 3.2% year-over-year to a new mid-year high of ~$3,350, with gains across every submarket.
  • A New PPSF Threshold: Average PPSF climbed 4.0% to an average of $4.28, with five of seven downtown submarkets now above $4.00 PSF.
  • Pricing Power, Proven: Across 2,105 identical units leased in both years, rents increased 5.4%, confirming real pricing growth—not a shift in unit mix.
  • A Runway for Continued Growth: New supply will remain well below historic norms through 2027, keeping the market tight and supporting rent growth, strong retention, and limited concessions.