Chicago Multifamily Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from Matthews, Colliers, Cushman & Wakefield
Quarterly multifamily market indicators for Chicago, aggregated by CREhunt from Matthews, Colliers, Cushman & Wakefield. As of Q1 2026, average asking rent was $1,950.00/unit/mo and vacancy was 5.0%, per Matthews.
Projected current multifamily pricing — Chicago
Projected asking rent
$2,019–$2,065/unit/mo
Estimated sale value
$172,952–$221,198/unit
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 multiple brokerages data (cap rate 6.7%, asking rent trend-adjusted to today). Assumes ~92% occupancy (vacancy not reported) and a 52–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 Matthews | $1,950.00/unit/mo | 5.0% | — | — | Matthews |
| Q1 2026 Colliers | — | 35.0% | 114K SF | — | Colliers |
| Q4 2025 Cushman & Wakefield | $1,913.00/unit/mo | 5.0% | 5K SF | 95 SF | Cushman & Wakefield |
| Q4 2025 Matthews | $1,900.00/unit/mo | 5.0% | — | — | Matthews |
| Q2 2025 Cushman & Wakefield | $1,922.00/unit/mo | — | 0 SF | — | Cushman & Wakefield |
| Q4 2024 Cushman & Wakefield | $1,821.00/unit/mo | 5.0% | 10K SF | 4 SF | Cushman & Wakefield |
Frequently asked questions
- What is the average asking rent for multifamily space in Chicago?
- As of Q1 2026, the average asking rent for multifamily space in Chicago was $1,950.00/unit/mo, per Matthews.
- What is the multifamily vacancy rate in Chicago?
- The multifamily vacancy rate in Chicago was 5.0% as of Q1 2026 (Matthews).
- Where does CREhunt's Chicago market data come from?
- This report aggregates quarterly multifamily market data for Chicago from Matthews, Colliers, Cushman & Wakefield.
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