Most Fridays we record the number of condos listed for rent in 14 downtown ZIP codes. For the longest time we noticed a very consistent downward trend in availability, as the number of homes for rent dropped from almost 2,000 immediately after Thanksgiving to just under 1,300 by mid-June.
What we’ve seen lately, however, is a significant increase in condos listed for rent. On June 25 there were 1,286 condos listed for rent; today, there are 1,628. That’s an increase of almost 27 percent.
In Streeterville / 60611 — the densest area for rentals — availability has risen 25 percent in six weeks. In 60605 and 60616, which cover most of the South Loop as well as East Pilsen, Armour Square, and the Near South Side, availiability is up 29 percent.
In fact, the only ZIP that has fewer rentals today compared to June 25 is 60606 (the western edge of the Loop and a sliver of the West Loop and Fulton River District), where net availability dropped by just one home, from 30 to 29.