Apartment Vacancies Decrease – Rents May Increase

The demand for apartments has increased in Chicago suburbs even though a significant factor for demand, better job markets, has continued to remain weak.  It may be the lack of interest in the home market or the continued slow economy but whatever the reason, apartment dwelling is the highest it has been in the last five years.

As demand rises and availability decreases, renters may see a rise in their monthly rent.

Property owners are reaping the benefits and showing more profit than they have in years.  Developers are planning nine new suburban projects hoping to capitalize on this trend.

Read more at “Suburban apartment occupancy highest since 2007”

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