Matrix Multifamily Chicago Report-June 2022 June 21, 2022

Chicago Speeds Up Recovery

Chicago average rents reached a new high, growing 90 basis points on a trailing three-month (T3) basis through April to $1,659. Transaction volume in the first four months reached $868 million, up 54 percent compared to the same period in 2021, while construction during those four months was almost on par with the entire previous year.