Rents rates are rising throughout the city, however, residents of Wicker Park, Logan Square and Avondale are currently witnessing some of the largest rent increases in the city.
According to a new report from apartment search site Domu, Avondale landlords have upped rent rates by 11.6% every year since 2012, while Logan Square and Wicker Park landlords are increasing rents by nearly ten percent each year. Anyone who has looked for an apartment in the last few years shouldn't be surprised, as residents who were squeezed out of Wicker Park years ago went to Logan Square, and now cost-conscious tenants are following the Blue Line and Milwaukee Avenue northwest up to Avondale.
The numbers don't mean that these neighborhoods have the highest rents in Chicago, just the fastest climbing rent prices. Folks who are seeking a neighborhood with more stable rent prices may want to consider Lincoln Square, Uptown and North Center.
·Crunching Domu's Data for a Look at Rising Rents in Chicago [Domu]
·Median Rent Prices for Chicago Apartments Remain Steady [Curbed Chicago]
·Homes in Ukrainian Village, Logan Square & West Loop Are Selling Like Hotcakes [Curbed Chicago]
·Market Reports archives [Curbed Chicago]