Chicago: October Rent Report
Welcome to the October 2021 Chicago Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the October 2021 key findings and figures for the Chicago rental landscape.
Our experts analyze the pricing trends one-bedroom, two-bedroom, year-over-year and month-over-month in Chicago and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Chicago average rent prices in the chart below.
Chicago Il City Guide
We currently have 8,317 condos for rent in Chicago, IL.
Zumper offers a great selection of condos with a wide range of filters to find the condo of your dreams. For your convenience, you can also utilize Zumpers mobile app to find your next condo rental.
Landlords in Chicago, IL will typically require a security deposit for a 6 or 12-month lease on a condo rental. You can check out Chicago, IL rent prices, rent tips, neighborhood information, and demographics.
If you’re looking for a specific type of condo, use our helpful filters to find a condo you will love!
Cities Near Chicago Il
Based on information submitted to the MRED as of Oct 11 2021 7:39AM. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. MRED DMCA Notice
Home Partners of America and A New Path to Homeownership are registered trademarks of Home Partners of America LLC.
Coldwell Banker Realty and Guaranteed Rate Affinity, LLC share common ownership and because of this relationship the brokerage may receive a financial or other benefit. You are not required to use Guaranteed Rate Affinity, LLC as a condition of purchase or sale of any real estate. Operating in the state of New York as GR Affinity, LLC in lieu of the legal name Guaranteed Rate Affinity, LLC.
Real estate agents affiliated with Coldwell Banker are independent contractor sales associates and are not employees of Coldwell Banker.
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Renting An Apartment In Chicago
The Basics
Renting an apartment in Chicago is pretty straight-forward. Youll need a photo ID, a security deposit, your first-month’s rent, and $25-$50 for a background check. Most leases are for 12 months, though you can sometimes score a little kickback for signing longer leases.
The Variety
From brick-walled studios to vintage flats to high-rise towers looking down on the shores of Lake Michigan, Chicago has a wide variety of rentals to choose from. For the budget-minded, cheap apartments in Chicago can be found in older buildings, often with gas and heat included in the rental price . And for renters in need of a little luxury, look for modern apartments with unique amenities like rooftop hangouts and resort-style swimming pools.
Parking
In most apartment communities, car owners should expect to pay an extra $200 per month for a spot in a parking garage or outdoor lot. Rental homes, townhouses and duplexes on the outskirts of town may have free street parking, however youll still be paying to park when you commute downtown.
Safety
Apartments For Rent In Chicago Il
Beds
Disclaimer: School attendance zone boundaries are supplied by Pitney Bowes and are subject to change. Check with the applicable school district prior to making a decision based on these boundaries.
About the ratings: GreatSchools ratings are based on a comparison of test results for all schools in the state. It is designed to be a starting point to help parents make baseline comparisons, not the only factor in selecting the right school for your family. Learn more
Zillow Group is committed to ensuring digital accessibility for individuals with disabilities. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. If you wish to report an issue or seek an accommodation, pleaselet us know.
Zillow, Inc. holds real estate brokerage licenses in multiple states. Zillow , Inc. holds real estate brokerage licenses in multiple provinces. A list of our real estate licenses is available.
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Chicago Rents Increase Sharply Over The Past Month
Chicago rents have increased 1.3% over the past month, and are up sharply by 7.5% in comparison to the same time last year. Currently, median rents in Chicago stand at $1,308 for a one-bedroom apartment and $1,442 for a two-bedroom. This is the eighth straight month that the city has seen rent increases after a decline in January. Chicago’s year-over-year rent growth lags the state average of 9.1%, as well as the national average of 15.1%.
Apartments For Rent In Aurora Il
Beds
Disclaimer: School attendance zone boundaries are supplied by Pitney Bowes and are subject to change. Check with the applicable school district prior to making a decision based on these boundaries.
About the ratings: GreatSchools ratings are based on a comparison of test results for all schools in the state. It is designed to be a starting point to help parents make baseline comparisons, not the only factor in selecting the right school for your family. Learn more
Zillow Group is committed to ensuring digital accessibility for individuals with disabilities. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. If you wish to report an issue or seek an accommodation, pleaselet us know.
Zillow, Inc. holds real estate brokerage licenses in multiple states. Zillow , Inc. holds real estate brokerage licenses in multiple provinces. A list of our real estate licenses is available.
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Best Neighborhoods In Chicago Il 2021
Chicago is undoubtedly one of the best cities in America, and clearly has a lot to offer. Whether it’s the rich cultural scene, stunning skyline or delciious food… renters love Chicago.
The city attracts renters from all over the world. Its often high on the list of renters looking to relocate.
However, it can be challenging to determine whether Chicago is right for you! It’s a large city with many distinct neighborhoods, each offering their own look and feel.
Take advantage of the free self-guided tours offered through the Chicago Greeter program. These tours are designed to guide you through your adventure through the city. They’re especially useful for those who want to learn more about a neighborhood before moving there!
That said, if youre determined to move to Chicago, its important to choose a neighborhood thats right for you. Luckily, the city offers a plethora of unique neighborhoods. Youre certain to find one thats a good fit for you. If you need a little help, dont worry!
Heres a list of the best neighborhoods in Chicago. Lets dive in!
Apartments For Rent In Illinois
Amenities
Disclaimer: School attendance zone boundaries are supplied by Pitney Bowes and are subject to change. Check with the applicable school district prior to making a decision based on these boundaries.
About the ratings: GreatSchools ratings are based on a comparison of test results for all schools in the state. It is designed to be a starting point to help parents make baseline comparisons, not the only factor in selecting the right school for your family. Learn more
Zillow Group is committed to ensuring digital accessibility for individuals with disabilities. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. If you wish to report an issue or seek an accommodation, pleaselet us know.
Zillow, Inc. holds real estate brokerage licenses in multiple states. Zillow , Inc. holds real estate brokerage licenses in multiple provinces. A list of our real estate licenses is available.
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Basic Tips On Chicago Living
Everyone knows you dont put ketchup on a Chicago-style hot dog, and everyone knows that trying to travel through Wrigleyville during a Cubs game will be a mob scene. Here are a few other bits of city-specific advice for fledgling Chicagoans. Though renting stand-alone houses is definitely not unheard of here, the most common living arrangements are apartments and condominiums, the latter of which are sometimes rented out privately by their owners. The range of styles, ages and quality amongst them, however, varies depending on where youre looking and how much youre willing to spend. Knowing this, how on earth do you even get started?
What To Expect From A Chicago Pad
Quality and Style: As previously stated, Chicago has every type of dwelling imaginable, though different neighborhoods and price ranges will yield different results. Multi-unit high-rise buildings usually have amenities included, such as a concierge/doorman, a communal rooftop deck, a pool, or a fitness center. These types of buildings will also have more restrictions or fees for moving in and out. Older buildings with radiator heat will often have gas and heat included in the rent, which is a huge advantage in the winter months when heating prices can break $150 – $200 or more a month. Also, youd be hard-pressed to find an apartment in the city of Chicago that requires you to pay your own water bill.
Common Logistics: A 12-month lease is standard, though occasionally a larger company will throw in financial perks for signing a longer lease. Short-term or month-to-month leases are hard to come by unless youre subletting or renting from a private landlord. As far as security deposits go, the standard is equivalent to one months rent. More and more often, though, management companies are requiring a non-refundable move-in fee instead of a security deposit.
Your Renting Arsenal: Here is a list of common things that will be required for a rental application:
Its perfectly normal to require a $25 – $50 non-refundable credit/background check fee per applicant.
Many larger management companies will require previous bank statements or pay stubs as proof of income
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Cost Of Living In Chicago Il 2021
As the largest city in the Midwest, Chicago is constantly welcoming newcomers. It boasts a relatively stable job market, a diverse mix of neighborhoods including lakefront living, and robust public transportation. Chicago isn’t exactly known for being cheap compared to its fellow midwestern cities, but it’s a bargain compared to cities like New York, Boston, or Los Angeles.
There’s a Chicago neighborhood for everyone, whether you’re looking for nightlife or a quiet green space and a reprieve from the city bustle. Read on to learn more about the cost of living in Chicago and how to plan your budget accordingly.
How To Find An Apartment
Its always best to know what you want in an apartment first. Whats important to you? Whats your price range? Are you willing to sacrifice size for location? Do you want a vintage flat, a hole-in-the-wall studio, or an updated 40th floor pad with a panoramic view of Lake Michigan? One great thing about apartment hunting in Chicago is that there are multiple services that will take down all your criteria, and then drive you around the city to see multiple options, free of charge. Of course, there are always Internet listings, newspaper ads, and for many areas, a simple walk through the neighborhood to glimpse for rent signs will suffice.
Chicago really has no defined rental season. Apartments are available year-round, though if anything, there are more options and they tend to go quicker and rent higher in the spring and fall. During these seasons, youre more likely to lose a good dwelling to another contender if you dont act fast. Renting a place out in the middle of January may give you a price or time advantage, but moving a couch up to the fourth floor of a walk-up building when the back staircase is covered in ice may also cause you to think twice.
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Chicago Rents More Affordable Than Many Other Large Cities Nationwide
As rents have increased sharply in Chicago, a few similar cities nationwide have seen rents grow more modestly. Chicago is still more affordable than most comparable cities across the country.
- Chicago’s median two-bedroom rent of $1,442 is above the national average of $1,275. Nationwide, rents have grown by 15.1% over the past year compared to the 7.5% rise in Chicago.
- While Chicago’s rents rose sharply over the past year, many cities nationwide also saw increases, including New York , Baltimore , and Denver .
- Renters will find more reasonable prices in Chicago than most other large cities. For example, San Francisco has a median 2BR rent of $2,815, which is nearly twice the price in Chicago.
For more information check out our
Apartments For Rent In Cicero Il
Beds
Disclaimer: School attendance zone boundaries are supplied by Pitney Bowes and are subject to change. Check with the applicable school district prior to making a decision based on these boundaries.
About the ratings: GreatSchools ratings are based on a comparison of test results for all schools in the state. It is designed to be a starting point to help parents make baseline comparisons, not the only factor in selecting the right school for your family. Learn more
Zillow Group is committed to ensuring digital accessibility for individuals with disabilities. We are continuously working to improve the accessibility of our web experience for everyone, and we welcome feedback and accommodation requests. If you wish to report an issue or seek an accommodation, pleaselet us know.
Zillow, Inc. holds real estate brokerage licenses in multiple states. Zillow , Inc. holds real estate brokerage licenses in multiple provinces. A list of our real estate licenses is available.
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Apartments For Rent In South Side Il
There are 886 active apartments for rent in South Side, which spend an average of 73 days on the market. Some of the nearby neighborhoods near South Side are South Shore, Auburn Gresham, Hyde Park, and Bridgeport. You may also be interested in apartments that are for rent in the nearby ZIP codes of 60637, 60615, or in neighboring cities, such as Chicago, Oak Lawn, Michigan City, or Pines.
Nd Chance Apartments In Chicago Will Accept Your Applications
We know Chicago 2nd Chance rentals accepting bad or poor credit, evictions, broken leases, foreclosures, bankruptcies, tax liens or repossessions.
Chicago Second Chance Apartments Offers a Quick and Easy Process being approved for nearby 2nd Chance Apartments:
- 1. Simply complete the required fields in the form provided on our website. Remember the more information you provide the easier it is for us to help you.
- 2.A highly experienced professional will contact you. A few minutes later you will receive a selection and details of Chicago second chance rentals near you that will accept your application.
- 3.Your experienced professional will review the results and offer you their advice. All you need to do is listen. Ask any questions you like.
Chicago Second Chance Apartments Finds Apartments Near You Accepting Felonies and Misdemeanors.
Things to Consider searching for Apartments in the Chicago willing to accept your application:
Chicago Second Chance Apartments will Handle Everything for You!
Second Chance Apartments is service that specializes in locating apartments for deserving individuals suffering from criminal records and needing a second chance rentals. We specialize in successfully matching people with the best apartments accepting criminal backgrounds in the Chicago area.
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