Community Corner
Rents on Suburban Apartments Hit New High
Suburban landlords are feeling the benefit as more people avoid buying a home in this market.
Suburban apartment rents hit a record high during the first quarter of the year, according to Crain's Chicago Business.
The median rent is up 2.6 percent compared to a year earlier as well as compared to the previous quarter, the article states. Occupancy rates, at 94.7 percent, are also high.
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The North Shore saw the biggest increase in rents at 12.2 percent, according to Crain's. Lake County, which has the highest occupancy rate at 96.9 percent, saw a slight dip in rent.
For the full article and a more complete breakdown by region, click here.
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