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Chicago real estate predictions for 2022

Are you planning on investing in properties in Chicago next year? Then you’re in the right place. We at Golan’s Moving & Storage are here to guide you through the latest trends and projections for Chicago’s housing market. In the year behind us, Chicago was one of the hottest markets in the United States! This trend continued in 2021 as well. At the time of writing, October 2021, Chicago is still one of the hottest real estate markets for investing in rental properties. But let’s not forget that just a few years ago, in 2018, the real estate appreciation rate in Chicago was running at about half the national rate.  when the nation percent rage was at 6 percent, Chicago’s was at 3 percent. The following year, in 2019, Chicago was given the title of the weakest housing market of 2019. So, what are the Chicago real estate predictions for 2022?

a typical house in Chicago
Chicago is still considered one of the hottest markets in the US.

Chicago real estate predictions for 2022

Yes, it’s true. The Chicago housing market was at a low point in 2019, essentially flat, but prices have since gone up 10.3%. All over the course of the past twelve months. In the latest quarter of this year, the property appreciation rate came about at 0.99%, which annualizes to a 4.03% rate. According to Zillow’s forecast, home prices in the Chicago Metro Area are expected to increase over the next twelve months. The Chicago housing market seems to be shaping up to continue this trend over the last few years. And investing in real estate in one of the hottest markets in the United States is never a bad idea.

If you’ve wanted to relocate and invest in Chicago for a while now, this would be a perfect time. With the help of our trusty Chicago area movers, you’ll be settled in in no time.

The top 3 fastest growing cities for rents in the Chicago Metro Area

  1. Schaumburg. It is a northwestern suburb of Chicago and a part of the Golden Corridor. This beautiful village had the fastest-growing rent in 2020. And it is now up 10.2% since this time last year. Moreover, in 2017, Schaumburg was ranked the 9th-best place to live in the United States.
  2. Palatine.
    Right after Shamburg was Palatine. It is another charming village in Cook County, Illinois. Palatine is a northwestern residential suburb of the city of Chicago. This area saw rent climb 9.8% in the last year. It’s the second fastest growing area for rents. Palatine also has the seventh-largest community in Cook County.
  3. Naperville. Last but not least, Naperville. Another suburban area, located just 28 miles west of Chicago. Naperville saw rent increasing by 7.6%. Naperville is the fourth most populous city in the country. For further insight on the best neighborhoods for buying a property to rent in Chicago visit this article.
Chicago landscape
Chicago has a number of great suburban areas with beautiful houses.

Right now, it goes without saying that buyers have more options than ever before and mortgage rates are insanely low. If you are looking to buy in Chicago, chances are you might even land your dream home. With the help of our local movers Chicago, once you buy your dream house, you will be able to move easily and effortlessly. We hope that you’ve found this article on next year’s Chicago real estate predictions helpful.

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