Chicago rent growth stalls amid slow job growth, report shows

  • Yardi reports annual rent growth at 4.7 percent nationally in September, falling for the first time since last November.
  • Overall rent growth is forecasted at 2 percent by year-end in 2016, which is considerably low compared with other metros measured by Yardi.
  • Annual growth for the six-month moving average in Chicago was 1.5 percent as of July 2016.

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For renters, a slowdown in the market’s growth is a welcome trend. While the drop was hardly noticeable, September saw its first monthly dip since November 2015 to $1,219, down just one dollar from August, according to a new report.
According to the Yardi Matrix Monthly report for September 2016, which measures 123 markets throughout the nation, rent prices grew 4.7 percent in September on an annual basis, a 30-basis-point decrease from August and 200-basis-point decrease from the most recent high in October 2015.