This May, Chicago rents increased to become the eighth most expensive rental market in the US. One bedrooms jumped 3.5% in the month to $1,780, while two bedrooms also increased 3.9% to settle at $2,390. Through this jump, Chicago displaced Los Angeles, Seattle, and San Diego on our list of rent prices across the 50 largest metro regions in the country.
In our full neighborhood breakdown below, Near North Side maintained the top spot with a one bedroom median of $2,190, followed closely by the Loop at $2,060 and Near West Side at $2,050. Evanston saw a drop in asking rents in the month, though is relatively flat in the trailing quarter at $1,410. Other notable upward movements in May included North Center (+9.6%, $1,370), Rogers Park (+5.3%, $1,000), and Woodlawn (+9.4%, $875). Downward movements in the period saw Lincoln Park (-1.8%, $1,650), Albany Park (-5%, $960), and Humboldt Park (-5.3%, $900).
If you’re interested in seeing how Chicago stacks up to the rest of the United States, view our National Rent Report for June, which analyzes over 1 million active listings available in the prior month.
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