Chicago’s rental market is stabilizing but seeing some of the fastest price increases in the US – Chicago Tribune/MSN

Rents in Chicago increased 1.7% in April compared with a 0.5% increase nationwide, placing the city in fifth place for fastest month-over-month rent growth among the 100 largest cities in the country, according to data from Apartment List. The same data shows Chicago’s year-over-year rent growth is at 5.2%, a drop from the nearly 12% year-over-year increase at this time last year. This number is nearly 6% year-over-year for Illinois in April 2023.