This thorough report on the US rental housing market for 2020 and 2021 offers stats, insights, and trends happening as we head toward 2021. 2. NAREIT, “REIT industry August 2020 rent collections,” accessed September 20, 2020. MarketFlash: Office lease concessions rising in tenant-favorable market,” August 13, 2020. The median monthly gross residential rent in Chicago, IL (the Chicago-Naperville-Joliet metro area) was $1,139 in 2019 according to the Census ACS survey. 1 Average gross rent in Chicago was $1,196 in 2019.The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus … Galvin noted this resulted in a longer amount of time between when a renter first tours an apartment to when they complete the rental application. According to Curbed, the average Chicago renter of a 2 bedroom unit would need an average wage of $90,000. Rent Report, January 2021: The State of the Rental Market January 29, 2021 As the country continues to grapple with the coronavirus, one thing is clear — the pandemic has changed the way we are living and in turn, altered supply and demand trends in the rental … View in article. Chicago Housing Market Update. Ibid. View in article. The market is a 2 … Realtor.com's forecast and housing market predictions on key trends that will shape the year ahead. Chicago, IL saw 1-bedroom median rent increase the most from the month prior, up 7.7% to $1540 and ranked as the 16th most expensive rental market. Durham ranked as the 41st most expensive rental market. CBRE, “U.S. On top of that, … In 2019, the average time from showing to the application was 3.9 days, compared to 8.8 days in 2020. Chicago lost 7% of it’s jobs (270,000 jobs lost in the Chicago Market in 2020). 3. Rent for a 2 bedroom apartment is now $2,254 per month. Durham, NC had the second highest monthly growth rate for 1-bedroom median rent at 7.3%. View in article. ... “Housing sales and prices are expected to continue their positive trends into the first quarter of 2021 ... Chicago Rental Market. The Covid 19 shutdowns have impacted the rental housing market, yet prices have risen and look to rise further in the face of ongoing rental housing shortages, and a housing market that may cool. NAREIT, “Quarterly REIT performance data,” accessed September 20, 2020. Based on 2018 median rental prices, the study concluded that the peak differentials for Chicago one- and two-bedroom apartments equate to … View in article With Chicago rents skyrocketing and construction cranes everywhere we decided to take a closer look at the Chicago rental market trends. Chicago Illinois Residential Rent and Rental Statistics. Compared with last year, rent in New York as of August is down 4.6% to a median of $2,716. 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