Chicago rent growth remains stable and steady through 2016

  • U.S. rents were up 5 percent annually in August, slowing from the 6-plus percent increases reported for the majority of the year.
  • Chicago's annual rent growth in August was 3.9 percent, and it's forecasted to grow 3.4 percent by the end of 2016.
  • Chicago's new completions made up 2.6 percent of total rental stock in August, with a total of 8,319 forecasted completions for the year.

The Yardi Matrix U.S. Multifamily Outlook for fall 2016 found that national rent growth has continued but slowed, while a couple bursts of job growth has helped propel the market forward.