MARKET SNAPSHOT Chicago q3 2025

Market Overview

‍In Q3 2025, the Chicago multifamily market showed strong footing: average rent reached $1,869, occupancy stood at 95.8 %, year-over-year rent growth was 3.8 %, and net absorption hit 6,723 units year-to-date. New unit completions of 3,731 units remain modest, reinforcing a clear supply-demand imbalance and suggesting continued market tightening.

‍About MMG

‍MMG Real Estate Advisors is a research-led multifamily advisory firm that focuses on U.S. metro-level rental housing markets. Their Q3 2025 Chicago market report distils metrics across rent, occupancy, absorption and completions to help investors, owners and developers benchmark performance and identify strategic opportunities. To read the full report, click here.