Chicago Multifamily Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from , Cushman & Wakefield, Colliers
Quarterly multifamily market indicators for Chicago, aggregated by CREhunt from , Cushman & Wakefield, Colliers. As of Q1 2026, average asking rent was $2087.00/SF with a 7.0% vacancy rate.
Projected current multifamily pricing — Chicago
Projected asking rent
$1,400–$1,464/unit/mo
Estimated sale value
$161,705–$211,322/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 Cushman & Wakefield data (cap rate 4.9%, asking rent trend-adjusted to today). Assumes ~91% occupancy and a 52–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | $2087.00/SF | 7.0% | 0K SF | — | |
| Q1 2026 | $1400.00/SF | 9.3% | 2K SF | — | Cushman & Wakefield |
| Q1 2026 | — | 35.0% | 114K SF | — | Colliers |
| Q4 2025 | — | — | 0K SF | 0K SF | Cushman & Wakefield |
| Q2 2025 | — | — | 0K SF | — | Cushman & Wakefield |
| Q4 2024 | — | — | 0K SF | 0K SF | Cushman & Wakefield |
| Q3 2019 | — | 7.8% | 3.0M SF | — |
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 $2087.00/SF.
- What is the multifamily vacancy rate in Chicago?
- The multifamily vacancy rate in Chicago was 7.0% as of Q1 2026.
- Where does CREhunt's Chicago market data come from?
- This report aggregates quarterly multifamily market data for Chicago from Cushman & Wakefield, Colliers.
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