Chicago missed the top 10 markets by 2 spots, ranking as the 12th most expensive rental market in the nation. Though one and two bedroom prices had stable monthly trends, remaining at $1,530 and $2,180, respectively, one bedroom rent is down 15.9% since this time last year. Two bedrooms had a similar year over year downturn, falling 11.4%.
While Humboldt Park and McKinley Park had the fastest growing rents this quarter, both up over 10%, Hegewisch and Douglas saw the biggest rent dips, both falling over 13%.
All either at or above the $2,000 threshold, Greektown, Streeterville, and River North were the priciest neighborhoods to rent this winter. West Loop, Loop, and Old Town followed closely behind as the next most expensive areas. More affordable rentals, priced at $1,200 or under, included Douglas, Edgewater, and Albany Park.
Meanwhile, the most affordable areas this quarter, all priced under $650, were Fuller Park, West Pullman, and South Deering.
Compare Chicago’s rents with the rest of the nation’s by viewing our National Rent Report for December, which analyzes over 1 million active listings available in the prior month.
To keep up to date with rent changes across the country, like or follow Zumper on Facebook, Gazouillement, Pinterest, and Instagram. In the market for a new place? Search all apartments for rent in Chicago on Zumper now.
For a more in-depth look into how and why we calculate our rental data, check out our methodology post here.
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