MLS-listed downtown rentals at another new low

For the third time in the last four weeks the number of downtown Chicago homes and condos listed for rent in the MLS hit a new low.

When we began tracking availability in 14 downtown ZIP Codes back in November of 2009, 1,927 units were listed. As of today, that number fell to 665 despite 137 newly-listed units having come to and remained on the market during the preceding 7 days.

Two years ago at this time the MLS-listed downtown rental inventory consisted of 1,526 units and a year ago the number was 960.

The downtown rental market for homes and condos remains extremely strong despite competition from the recent opening of two new rental high-rises, The Lex and Randolph Tower.

You can see all of our data, by date and ZIP code, in this Google Docs spreadsheet.

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