CHICAGO, IL – Interra Realty’s Co-Founder and Managing Principal Jon Morgan was recently featured in an article from RE Journals discussing multifamily demand in the Chicago market.

Jon Morgan, Co-Founder and Managing Principal of Interra Realty, traces much of that demand to would-be buyers stuck renting. Mortgage rates and home prices have kept a meaningful share of first-time buyers on the sidelines, he said, driving renewals and lease-up activity in Interra’s core Chicago neighborhoods even as job growth cools. Citywide vacancy still sits below 5%, a figure Morgan calls resilient given the broader economic noise.

“We’re a renter-majority city with limited new supply outside of luxury towers and that combination continues to support steady, sustainable rent growth rather than the boom-bust swings you see in some Sun Belt markets,” Morgan said.

Read the complete article at RE Journals.