Relocation rental market report · Q3 2026
What renting cost a relocating employee last quarter.
Chicago and Nashville, for HR teams setting housing allowances and offer letters. From the Abode Rent Index: homes that actually leased, after concessions.
Chicago
$2,493
average monthly rent, Q3 2026
+9.3% on a year earlier · −1.1% on the last quarter
Nashville
$1,969
average monthly rent, Q3 2026
+4.2% on a year earlier · −1.1% on the last quarter
Q3 2026
Chicago
Rents averaged $2,493 a month after concessions in Q3 2026, up 9.3% on a year earlier and down 1.1% on the quarter before.
- Budget for higher rents than a year ago: the citywide average is up 9.3% on Q3 2025.
- A one-bedroom averaged $2,423 a month after concessions this quarter, against $2,217 a year earlier.
- Homes leased in an average of 16 days over the last 90, so tours should be lined up before the employee arrives.
Average monthly rent by home size
| Q3 2026 | A year earlier | Change | |
|---|---|---|---|
| Studio | $1,904 | $1,726 | +10.3% |
| 1 bedroom | $2,423 | $2,217 | +9.3% |
| 2 bedrooms | $3,005 | $2,769 | +8.5% |
| 3+ bedrooms | $3,692 | $3,640 | +1.4% |
Neighborhood changes: median rent in September 2026 against a year earlier, neighborhoods with at least 40 leases that month. Relocating to Chicago · Chicago Rent Index
Q3 2026
Nashville
Rents averaged $1,969 a month after concessions in Q3 2026, up 4.2% on a year earlier and down 1.1% on the quarter before.
- Budget for higher rents than a year ago: the citywide average is up 4.2% on Q3 2025.
- A one-bedroom averaged $1,502 a month after concessions this quarter, against $1,535 a year earlier.
- Homes leased in an average of 21 days over the last 90, so tours should be lined up before the employee arrives.
- Advertised concessions took about 3.9% off asking rents in September 2026: compare offers on the net rent, not the headline.
Average monthly rent by home size
| Q3 2026 | A year earlier | Change | |
|---|---|---|---|
| Studio | $1,340 | $1,359 | −1.4% |
| 1 bedroom | $1,502 | $1,535 | −2.1% |
| 2 bedrooms | $1,774 | $1,723 | +3.0% |
| 3+ bedrooms | $2,393 | $2,298 | +4.1% |
Neighborhood changes: median rent in September 2026 against a year earlier, neighborhoods with at least 40 leases that month. Relocating to Nashville · Nashville Rent Index
How this report is made
Every figure comes from the Abode Rent Index, which Abode calculates each month from homes that actually leased: MLS-listed rentals and professionally managed apartment communities, combined by housing-stock weight and net of advertised concessions. A quarter’s figure is the average of its three monthly citywide medians; “a year earlier” is the same quarter the year before. The newest month is preliminary and can be revised as late leases report. Published October 2026; the next report follows the next quarter’s close.
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