The third largest city in the US, Chicago is a major hub for finance, manufacturing, telecommunications, and transportation, among other industries. Home to 12 Fortune 500 companies, the O'Hare Airport, a thriving arts community, President Barack Obama, and world-famous pizza, Chicago is an economic powerhouse. According to the city's official web site, it's also a "very passionate sports town," which wholeheartedly supports its teams, including the world-class Chicago Cubs, White Sox, Bears and Bulls. A multicultural city, Chicago boasts the second largest labor pool in the United States, which makes the Windy City a good place to own rental property.
Chicago Rentals Market Trends Favor Landlords
As with many cities, Chicago's rental market is experiencing a boom. Young professionals, discouraged by the housing market's recent decline, or unable to purchase properties now that banks are becoming much more conservative in their lending practices, increasingly prefer the flexibility that comes with renting---even with rental prices that equal or exceed the mortgage on a comparable home.
With apartment complex construction slowing, rent prices are predicted to rise over the next few years. At the same time, many current homeowners are choosing to rent their houses out, rather than sell them, when it comes time to move. All of these factors ensure that both Chicago rental properties and Chicago property management companies will remain in high demand for the foreseeable future.
Chicago Rental Market at a Glance
Percentage of renters
Rental vacancy rate
Median house price
Finding Chicago Property Management Companies
Finding the right property manager is essential to growing your business.
Use All Property Management to select from among Chicago's best property management companies. Type your zip code into our search widget to find companies who manage properties in Chicago---then request free quotes.
Cagan Management Group
Managing: Multi-Family : Association : Cagan Management Group is positioned to be
responsive, effective, and flexible to each and
every client. Free Quote...
Property Management Techniques
Managing: Single-Family : Multi-Family : Association : We are committed to provide the highest quality of life for the residents of the communities that we manage, while maintai... Free Quote...
Root Realty Property Management
Managing: Single-Family : Multi-Family : Association : Leading Property Management in Chicago for almost
30 years by providing world-class service and
cutting edge technolog... Free Quote...