Even as inventory and vacancies continue to rise in the Chicago apartment market, rent prices aren't going down anytime soon. Apartment search site Domu has just released new info on the median one bedroom rent prices for various neighborhoods throughout downtown and the North Side and the numbers may be surprising to some. Neighborhoods like River North, the Gold Coast and the West Loop have some of the priciest one bedrooms in the city, with rents reaching $2,000 for a one bedroom apartment. Folks on a budget will want to head up north towards Rogers Park, Albany Park or even Avondale. While Avondale has seen big increases in rent prices over the last couple of years, the median monthly rent is still below $1,000. However, one interesting stat here is that Wicker Park has eclipsed Lincoln Park in cost of living. Even Humboldt Park is gaining on nearby Ukrainian Village with a median rent of $1,000 for a one bedroom apartment.
According to Domu, the infographic utilizes listing data from August 2014 through August 2015 and represents listed rents versus actual rents. Other apartment search sites also offer median rent reports for Chicago, and while this information is difficult to nail, the various reports do offer a snapshot of the rental landscape.
·How Much Does It Cost To Live in a 1-Bedroom? [Domu]
·Market Reports archives [Curbed Chicago]