NBOA Housing Provider Survey
A comprehensive snapshot of Chicagoland’s neighborhood housing market — 242 responses documenting rent collection, vacancy rates, fee structures, and move-in policy across the Chicago metropolitan area.
Executive Summary
Key findings from the 2025 survey across operations, fee structures, and respondent demographics. The data reveals strong collection rates citywide but significant geographic disparities.
Geographic Disparity: North Chicago properties show 81.20% achieving >95% collection rates, compared to only 46.80% in South/West Chicago — a 34.4 percentage point gap that defines the 2025 market reality.
Respondent Profile
Who the respondents are, where they operate, and the scale of their portfolios across the Chicagoland region.
Operating Role
| Role | Percentage |
|---|---|
| Property Owners Only | 43% |
| Property Owners & Managers | 52% |
| Property Managers Only | 5% |
Number of Properties Owned or Managed
| Property Count Range | Percentage of Respondents |
|---|---|
| 1-5 Properties | 42.3% |
| 6-10 Properties | 15.8% |
| 11-20 Properties | 14.5% |
| 21-50 Properties | 14.1% |
| More Than 50 Properties | 13.3% |
Number of Units Owned or Managed
| Unit Count Range | Percentage of Respondents |
|---|---|
| 0-20 Units | 34.3% |
| 21-50 Units | 17.8% |
| 51-100 Units | 14.5% |
| 101-250 Units | 10.7% |
| 251-500 Units | 6.2% |
| 501-1,000 Units | 9.5% |
| More than 1,000 Units | 7.0% |
Geographic Distribution — Top Locations
| Location | Approximate Respondent Share |
|---|---|
| City North | ~62% (highest concentration) |
| City Northwest | ~31% |
| Suburban West | ~21% |
| City South | ~21% |
| Suburban North | ~19% |
| City West | ~19% |
| Suburban Northwest | ~14% |
| City Southwest | ~12% |
| City Downtown | ~12% |
| Suburban Southwest | ~8% |
The NBOA membership is concentrated in City North and City Northwest areas, with 42.3% owning 1-5 properties and 34.3% managing 20 units or fewer. This defines the small-to-medium neighborhood landlord profile characteristic of Chicago’s rental housing market.
Operations: Turnover, Vacancy & Collections
Operating performance metrics across anticipated turnover, current vacancy rates, and year-to-date rent collection — reported overall and broken out by geographic region.
Anticipated Apartment Turnover in 2025
| Turnover Rate | Number of Respondents | Percentage |
|---|---|---|
| 10-20% Turnover | 154 | 64.4% |
| 21-30% Turnover | 58 | 24.3% |
| 31-40% Turnover | 17 | 7.1% |
| 41-50% Turnover | 8 | 3.3% |
| 51-60% Turnover | 0 | 0% |
| 60%+ Turnover | 2 | 0.8% |
Current Unit Availability
| Vacancy Rate | Number of Respondents | Percentage |
|---|---|---|
| No Vacant Units | 108 | 45.0% |
| 1-5% Vacancy | 99 | 41.3% |
| 6-10% Vacancy | 21 | 8.8% |
| 11-25% Vacancy | 10 | 4.2% |
| 26-50% Vacancy | 1 | 0.4% |
| 51-75% Vacancy | 0 | 0% |
| 75%+ Vacancy | 1 | 0.4% |
86.3% of respondents report 5% or lower vacancy rates, with 45% at zero vacancy. The Chicago neighborhood rental market is running tight in 2025.
Year-to-Date Collection Rates — All Respondents
| Collection Rate Range | Percentage of Respondents |
|---|---|
| Greater than 95% | 69.7% |
| 91-95% | 15.4% |
| 86-90% | 5.4% |
| 76-85% | 4.1% |
| 0-75% | 2.5% |
| Unknown | 2.9% |
Collection Rates by Geographic Location
This analysis compares collection rates across three geographic groups: North Chicago (City North, City Northwest, City Downtown, Suburban North, Suburban Northwest), South/West Chicago (City South, City Southwest, City West, Suburban Southwest, Suburban West), and Mixed Location properties.
| Location Group | Collection Rate | Percentage of Respondents |
|---|---|---|
| North Chicago | Greater than 95% | 81.20% |
| 91-95% | 9.77% | |
| 86-90% | 4.92% | |
| 76-85% | 1.50% | |
| 0-75% | 0.75% | |
| Unknown | 3.75% | |
| South/West Chicago | Greater than 95% | 46.80% |
| 91-95% | 21.27% | |
| 86-90% | 12.76% | |
| 76-85% | 8.51% | |
| 0-75% | 6.55% | |
| Unknown | 6.38% | |
| Mixed Location | Greater than 95% | 60.65% |
| 91-95% | 22.96% | |
| 86-90% | 3.00% | |
| 76-85% | 4.92% | |
| 0-75% | 4.25% | |
| Unknown | 6.38% |
The geographic disparity is stark: 81.20% of North Chicago respondents achieve >95% collection rates versus 46.80% in South/West Chicago — a 34.4 percentage point gap. This regional divide defines the operational landscape of Chicago’s rental housing market in 2025.
Vacancy Rates by Geographic Location
| Location Group | Vacancy Rate | Percentage of Respondents |
|---|---|---|
| North Chicago | No Vacant Units | 52.63% |
| 1-5% Vacancy | 39.84% | |
| 6-10% Vacancy | 3.00% | |
| 11-25% Vacancy | 4.51% | |
| Greater than 26% | 0% | |
| Unknown | 0% | |
| Total with 0-5% Vacancy: | 92.47% | |
| South/West Chicago | No Vacant Units | 27.68% |
| 1-5% Vacancy | 23.40% | |
| 6-10% Vacancy | 25.53% | |
| 11-25% Vacancy | 6.38% | |
| Greater than 26% | 4.25% | |
| Unknown | 0% | |
| Total with 0-5% Vacancy: | 51.08% | |
| Mixed Location | No Vacant Units | 40.42% |
| 1-5% Vacancy | 59.01% | |
| 6-10% Vacancy | 8.19% | |
| 11-25% Vacancy | 1.63% | |
| Greater than 26% | 0% | |
| Unknown | 3.27% | |
| Total with 0-5% Vacancy: | 99.43% |
Fee Structures
What fees Chicagoland housing providers charge throughout tenant leases, when they disclose them, and how move-in fees and security deposits vary across the market.
Fees Charged Throughout Tenant Leases
| Fee Type | Percentage Charging This Fee |
|---|---|
| Move-in Fee | 84.8% |
| Late Payment Fee | 68.2% |
| Application Fee | 63.7% |
| Key Replacement / Lockout Fee | 60.6% |
| Pet Fee | 58.8% |
| Credit Check Fee | 46.1% |
| Storage Fee | 12.8% |
| RUBS Fee (Ratio Utility Billing System) | 10.2% |
| Internet/Cable Fee | 7.6% |
| Lease Renewal Fee | 4.2% |
| Service or Maintenance Fee | 3.4% |
When Fees Are Disclosed
| Disclosure Timing | Percentage of Respondents |
|---|---|
| At Showing | 45.5% |
| On the Application | 28.9% |
| At Lease Signing | 13.2% |
| On the Rental Listing | 5.8% |
| In Marketing/Advertising | 3.3% |
| All of the Above | 1.7% |
| Unknown/Handled By Management | 0.8% |
| Other | 0.8% |
Security Deposit and Move-In Fee Policies
Move-In Fee Amount Distribution
| Fee Amount Range | Percentage of Respondents |
|---|---|
| $301-$500 | 49.50% |
| $501-$750 | 19.00% |
| $151-$300 | 13.00% |
| Less than $150 | 12.50% |
| More than $750 | 6.00% |
Move-In Fee as Percentage of Monthly Rent
| Percentage of Monthly Rent | Percentage of Respondents |
|---|---|
| Less than 25% of monthly rent | 40.96% |
| 26-50% of monthly rent | 33.47% |
| More than 50% of rent | 2.48% |
| Other or no move-in fee | 23.97% |
Response to Potential Move-In Fee Ban
Question: What action would you take if move-in fees were banned?
| Proposed Action | Percentage of Respondents |
|---|---|
| Raise all rents, including on long-time residents | 45.2% |
| Raise new rents only | 32.4% |
| Other | 12.4% |
| Absorb the cost | 5.0% |
| Require a security deposit | 4.1% |
| Cut services or improvements | 0.8% |
77.6% of respondents would increase rents (either across all tenants or for new leases only) if move-in fees were banned. Only 5.0% would absorb the cost without adjusting other revenue streams. This demonstrates that move-in fees function as an alternative to higher base rents, not as additional profit.
Security Deposit Law Reform
Question: If the Chicago City Council changed the security deposit law to allow housing providers to cure mistakes before they were subject to a lawsuit, would you charge your new tenants a security deposit rather than a move-in fee?
| Response | Percentage |
|---|---|
| Yes | 37% |
| No | 25% |
| It depends | 24% |
| Already in use | 12% |
37% would switch from move-in fees to security deposits if Chicago reformed its security deposit law to allow providers to cure mistakes before facing lawsuits. Another 24% said their decision would depend on implementation details — indicating substantial interest in security deposit reform among Chicago housing providers.
Key Findings
The 2025 NBOA Housing Provider Survey presents a Chicago rental market characterized by strong headline metrics but significant geographic inequities. While 69.7% of providers collect more than 95% of expected rent and 86.3% operate at low vacancy (5% or below), these averages obscure dramatic regional disparities.
The data reveals a 34.4 percentage point gap in high-end collection rates between North and South/West Chicago — with North-side providers achieving 81.20% above-95% collection compared to 46.80% on the South and West sides. This geographic divide extends to vacancy rates, with North Chicago providers far more likely to report zero vacancy (52.63% vs 27.68%).
On fee policy, the membership speaks clearly: 77.6% would raise rents if move-in fees were eliminated, making these fees functionally part of housing cost rather than separate from it. The modal move-in fee sits at $301-$500 (49.5%), typically representing less than half of one month’s rent.
The survey also reveals substantial interest in security deposit reform: 37% would switch from move-in fees to security deposits if Chicago’s ordinance were amended to allow providers to cure technical violations before facing litigation. Combined with those who answered “it depends” (24%), over 60% of providers are open to security deposits under reformed rules.
The 2025 survey defines a membership that is predominantly small-scale (66.6% own 100 units or fewer), locally rooted (62.1% live in Chicago), and operationally stable in aggregate — but facing material challenges that vary sharply by neighborhood. Any policy intervention that ignores this geographic reality risks deepening existing inequities.
Thank you.
The NBOA has representatives from — and advocates on behalf of — the following Chicagoland neighborhood building owners associations:
- Edgewater Uptown Builders Association (EUBA)
- Greater Austin Development Association (GADA)
- Lakeview Developers Association (LDA)
- Latino Real Estate Investors Council (LREIC)
- Lincoln Park Builders of Chicago (LPBC)
- Northwest Side Builders Coalition (NSBC)
- Rogers Park Builders Group (RPBG)
- South Side Community Investment Association (SSCIA)
- Southside Builders Association (SSBA)
- Southwest Housing Providers Group (SWHPG)
- West Suburban Building Owners Association (WSBOA)
For too long, legislation has been adopted and rules and procedures have been promulgated on the City, County and State level without the input of the neighborhood building owner and developer. As a result, laws have been passed that have proven detrimental and costly not only to building owners and developers, but to building managers, tenants and society at large.
With the assistance of other real estate organizations; state, county and city government; tenant organizations, affordable housing groups and other interested parties, the NBOA hopes to make practical and meaningful changes that will better serve all involved in Chicago’s real estate community.
Survey Details: This survey was conducted in August 2025 in Chicago, Illinois by Essex Companies in partnership with the Neighborhood Building Owners Alliance (NBOA). Total responses: 242 housing providers representing properties across all Chicago neighborhoods and surrounding suburbs.