Chicago rent report finds city rates still lagging behind other metros

  • Yardi reported national average rent prices increased 5 percent in August compared with the same month last year.
  • Chicago's forecasted rent growth by the end of 2016 is 2 percent.
  • Chicago's annual job growth was 1.5 percent in June.

The multifamily rental market is starting to reflect the introduction of fall, cooling off but still growing. According to the Yardi Matrix Monthly report, which is a monthly measurement of 120 U.S. markets, August marked the eighth consecutive month of record rent prices.

Annually, national rent prices were up 5 percent but slipped 50 basis points from the previous month.