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Median Rent Prices for Chicago Apartments Remain Steady

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It's the beginning of a new month, which means that it's time to take a look at the latest rental figures. Thanks to the flood of new rental projects from developers, thousands of new luxury apartments are well on their way to the greater downtown area—potentially causing a dramatic fluctuation in the city's median rental rates. However, Chicago's rental market appears to be pretty darn stable when compared to other, more expensive cities like New York and San Francisco. According to the latest National Rent Report from apartment search site Zumper, Chicago's median monthly rent for a one bedroom is now $1,780—up by just $60 since last month and up by $20 since the month prior. While the latest median rent prices are the highest they've been in the last few months, Chicago still ranks low on the list of priciest cities coming in at eight place. Another way to put it is, at $1,780 per month, the median rent price for a one bedroom in Chicago is nearly half of San Francisco's $3,500 per month.

·Zumper National Rent Report: June 2015 [Curbed Chicago]
·The Cheapest and Priciest Neighborhoods to Rent in Chicago [Curbed Chicago]
·Zumper: Chicago Now Has 7th Highest Rent Prices in Country [Curbed Chicago]
·Market Report archives [Curbed Chicago]