Chicago rent prices remained flat this August, as the market cooled from sharp increases over the past quarter and trailing year. One bedroom median rents were the 7th most expensive in the country at $1,920, while two bedrooms dipped 1.5% in the month to $2,560. Prices in Chicago have appreciated 10.3% for one bedrooms and 6.7% for two bedrooms in the past year alone.
Upward Trends
Lincoln Square one bedrooms were up 3.5% in the month to $1,190, while two bedrooms also rose 3.2% to $1,620.
Rogers Park one bedrooms jumped 5.8% to $1,090, while two bedrooms remained flat at $1,400.
Jefferson Park increased four spots on our list of neighborhood prices below, up 4.9% to $1,070 for one bedrooms. Two bedrooms also increased 3.6% to $1,450.
Downward Trends
Lincoln Park remained the sixth most expensive neighborhood despite a drop of 3.5% in the month to $1,640 for a one bedroom. Two bedrooms were similarly down 4.2% to a median of $2,300.
Lower West Side slid three spots to $1,020 for a one bedroom, down 5.6% in the month. Two bedroom prices also dipped 2.9% to $1,360.
Hyde Park saw one bedroom prices drop to $1,000, while two bedrooms came in at $1,370. The neighborhood came is as #20 on our list, down six spots.
Full Neighborhood Breakdown (August 2015)
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