RentalsTechnology

HomeUnion: Real estate investors should look to the Windy City for opportunities

Employment in Chicago is looking up and vacancy rates are tightening, while mortgages remain challenging to get

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Are you set up for success in 2016? Join 2,500 real estate industry leaders Aug. 4-7, 2015, at Inman Connect in San Francisco. Get Connected with the people and ideas that will inspire you and take your business to new heights. Register today and save $100 with code Readers. Just as certain markets bounced back quicker than others following the recession, some markets have become more friendly to single-family investors as a result. HomeUnion, a real estate investment management firm, recently released a report outlining the Chicago market in particular as one ideally suited for investors looking for rental property. HomeUnion expects the renter pool to grow in the coming months, and home prices have remained fairly low despite a slight increase. The rent-to-price ratio is currently at a healthy 470 basis points, down from 820 basis points at the end of 2013. More than 7,000 rental units are under construction in metro Chicago to help ease demand, and development of...