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.

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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.