4Q 2019 Chicago Area Apartment Market Report

Robust Rental Demand Reduces Vacancy to 19-Year Low;
Strong Operations Keep Multifamily Investors Active

4Q 2019 Chicago Area Apartment Market Report 1
Leasing activity sustains momentum, supported by record low unemployment. Low interest rates and strong performance trends support investment activity, but investor caution remains elevated.

Key Features Include:

  • Absorption continues to outpace elevated supply as developers struggle to keep up with demand
  • National vacancy rate dropped to lowest rate since 2000
  • Availability especially limited in lower-cost Class B and C properties

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