Suburban Chicago ranks as the second-most competitive rental market in the U.S., according to RentCafe's analysis of 139 markets. Factors included vacancy days, occupancy rates, competition among renters, lease renewals, and new apartment completions. The report highlights that corporate relocations and affordability have boosted demand, with 14 prospective renters per apartment and a 69.2% lease renewal rate. Chicago itself is the seventh most competitive market, with a 59.2% lease renewal rate and 11 prospective renters per unit.