Rent Prices For 2-Bedroom Apartments in Chicago Down 10% in March

Posted by Helaine Cohen on Friday, March 31st, 2017 at 10:18am.

Chicago Apartments According to new data released from Zumper, River North features the most expensive rent prices for a one-bedroom unit of any location in Chicago. Zumper, a full-service apartment and rental platform, analyzed rent prices all over Chicago and one-bedroom units in the River North neighborhood for the month of March settled at $2,175. 

As for the city’s overall median rent prices, one-bedrooms in Chicago were listed at $1,730 in March, while two bedroom rentals priced at $2,280, which is about a 10% drop for a two-bedroom compared to March of 2016. 

Both Streeterville and the West Loop weren’t far behind River North in terms of rent prices, as both registered a price of over $2,000 for a one-bedroom apartment in March. In other downtown neighborhoods, the rent price for a one-bedroom in the Loop was $1,950 while the Rush and Division area, which is of course part of the Gold Coast, came in at $1,820 for a one-bedroom. 

According to Zumper’s national data, Chicago had the 10th highest median rent prices of any major city in the U.S. in March, ranking below San Francisco, New York, Boston, San Jose, Washington DC, Oakland, Los Angeles, Seattle, and Miami. 

Helaine Cohen, Chicago Real Estate Broker

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