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Zumper: Chicago Now Has 7th Highest Rent Prices in Country

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Chicago's apartment boom is a real thing, and according to a new report from apartment search website Zumper, Chicago is quickly climbing the ranks of priciest cities to rent in. According to their latest National Rent Report, Zumper ranks Chicago as the seventh most expensive city for renters in the country, up two places from last month. The report, created using data from listings on Zumper, indicates that the median price for a one bedroom in Chicago is $1,760, while the median price for a two bedroom is $2,370. As far as individual neighborhoods are concerned, it's about what you'd guess—downtown neighborhoods are by far the priciest in Chicago. Zumper places the Near North Side (River North, Streeterville, Gold Coast) at first place while the Loop and the Near West Side (West Loop) come in second and third place. The data is a little hard to swallow considering that it only takes information found on Zumper into account, and it lumps multiple neighborhoods into one large, super pricey region. However, renters and developers will likely find the information somewhat useful.

·Zumper National Rent Report: March 2015 [Zumper]
·The Numbers archives [Curbed Chicago]
·Market Reports archives [Curbed Chicago]