Chicago Co-Living Trend Booms, Attainable Luxury Rises
Market Demand and Occupancy Trends in Co-Living Amidst a rapidly evolving environment, Chicago's co-living market showcases remarkable demand and occupancy trends. These trends merit astute attention from seasoned investors. Chicago's multifamily occupancy rate stands at an impressive 95.3% in 2024. This is supported by co-living benefits such as affordability and community experience. Stable occupancy rates alongside rent growth are anticipated, supported by diverse economic drivers in the area. This high occupancy rate strengthens co-living's market positioning. It emerges as an appealing alternative to traditional rentals. The city's burgeoning rent growth is leading the nation with a 5.5% increase in 2025. This further underscores the demand for flexible housing solutions. Despite constraints in new construction, key submarkets like Downtown Chicago maintain stable absorption levels. This reflects sustained interest. Investors observing this trend recognize the str...