Matrix Multifamily Chicago Report-June 2023 June 27, 2023

Chicago Rents Moderate

At 0.5 percent as of April, Chicago’s T3 rent growth outperformed the 0.2 percent U.S. rate change, reaching an average of $1,835. Although construction starts declined, completions began the year strongly, and the metro had more than 13,300 units underway.