Apartments for Rent in Norwood Park, Chicago, IL

Norwood Park, Chicago apartment availability

Norwood Park's rental market offers a good selection of listings, with an average of 24 rentals available each month in 2024. The majority of rentals are 2-bedroom apartments, followed by 1-bedroom and 3-bedroom units. Many apartments in Norwood Park feature desirable amenities, including hardwood floors, in-unit laundry, and on-site laundry facilities, which are available in over 60% of rentals. This charming Chicago neighborhood provides a range of options for renters seeking a convenient and comfortable living experience.

Norwood Park, Chicago rental market trends

Norwood Park's rental market is experiencing significant growth, with average monthly rents increasing by 14.5% year-over-year to $2,150 in 2024. This upward trend is evident across most property types, with 1-bedrooms rising by 11.4% to $1,460, 2-bedrooms by 12.7% to $2,055, and 3-bedrooms by 6.9% to $2,567. However, studio apartments have seen a slight decline of 1.8% to $1,075.

The most expensive month to rent in Norwood Park is February, with prices 41.1% higher than in July, the least expensive month. This significant fluctuation presents an opportunity for renters to find more affordable options during the summer months. With the area's rental market becoming increasingly competitive, renters should be prepared to act quickly to secure a lease, especially during the peak winter months.

Why Norwood Park, Chicago is a great place to live

We've analyzed data from the last few years to understand what makes Norwood Park a desirable neighborhood for renters. It's clear that this area excels in supporting a vibrant social life. With a high Walk Score, frequent transit options, and a strong sense of safety, residents can easily get around and enjoy all the neighborhood has to offer. Additionally, the age distribution in the area suggests a diverse community, and the well-maintained street infrastructure makes it a pleasure to explore. Whether you're looking to meet new people or simply enjoy the local atmosphere, Norwood Park is an excellent choice for those who value an active social life.