Median One-Bedroom Rent in Chicago: $1,670, Report Says

By DNAinfo Staff on March 5, 2015 9:54am | Updated March 6, 2015 9:33am

DOWNTOWN — Rents dropped “a slight” 2.9 percent in February from January, but Chicago remains the ninth most expensive place for renters in the nation, according to a report based on rents offered on a national firm’s website.

The median one-bedroom rent was $1,670, according to the report byzumper.com, a rental agency that says it offers 8,200 apartments in Chicago and Evanston listed on its site.

The report found:

• The most expensive rents were on the Near North Side, at $2,000. A two-bedroom median rent there was $2,910 per month, also the highest in the city.

• The rest of the top five for most expensive rents were: Loop ($1,960); Near West Side ($1,960); West Town ($1,840) and Lincoln Park ($1,750).

• In “notable trends,” Lakeview saw a jump of 3.7 percent in February to $1,400, Auburn Gresham surged 4.6 percent to $680 and North Lawndale jumped 4.3 percent to $720.

• The lowest of neighborhoods listed by zumper.com (not all neighborhoods are represented) was Chatham, at $640 for a one-bedroom unit.

• Kenwood, Evanston and Edgewater saw declines in median rentals posted.

• The city with the most expensive median rents was San Francisco, at $3,460 for a one-bedroom. New York weighed in at $3,000, good for number two on the list. At number three was Boston, with a median rental price of $2,300 for a one-bedroom unit.

The median rental price means that half of apartments rented for more, half for less.