Matrix Multifamily Chicago Report-January 2024

Chicago Shows Resilience

Chicago’s multifamily fundamentals slowed through November 2023 in line with national trends, but it performed better than many markets. T3 rents decreased 0.3 percent, to $1,865, while development dropped by a relatively low 13.2%. Meanwhile, the workforce expanded by 1.6%, and occupancies rose 40 basis points in October.

Sign up to download.