Renters searching for luxury apartments in Chicago is at an all-time high, according to a recent report.
Rising vacancy rates and deep discounts are making it even easier and more affordable than ever to snag a luxury apartment. With more and more people working from home, they’re looking for larger apartments to accommodate a home office. Add the migration of urban dwellers to the suburbs and developers are working tirelessly to fill unrented inventory, according to My Affordable Luxury Magazine’s analysis.
Chicago, Boston, and Dallas have the highest interest in luxury apartment searches, according to the company’s findings with Chicago coming in at No. 9.
My Affordable Luxury Magazine’s analysis found the increase in searches for luxury rentals began as early as May of 2020, and the search volume continues to remain high. According to the report, 2021 started strong with 313,000 searches up 46% year over year which was twice as many as in 2019.