Matrix Multifamily Chicago Report-June 2025

Market Overview

Chicago’s multifamily market began 2025 on a positive note as average advertised asking rents gained 0.5 percent over the trailing three months through April—outperforming the national average of 0.2 percent. Occupancy remained solid at 95.9 percent in March, notably above the U.S. average of 94.4 percent. Developers added 1,277 units in the first four months of the year, and roughly 9,607 units remain under construction, suggesting continued—but moderated—supply influx.

About Yardi Matrix

Yardi Matrix is a leading provider of commercial real estate data and analytics across multifamily, student housing, office, industrial, and self-storage sectors. Their metro-level multifamily reports deliver timely insights into rent trends, occupancy, supply pipelines, and market fundamentals—designed for data-driven decision-making by investors, operators, and analysts.