Chicago, like many major metropolitans, can be expensive, but compared to New York and Los Angeles, this Midwest city is fairly reasonable. Chicago is a city rich in diversity with dozens of unique neighborhoods, so new residents are able to find a home in an area specific in line with their interests and budgets.
Citywide, the average rent in Chicago is $1,109.73. Comparatively, rent is $3,017.19 in New York City. (Source: Chicago Tribune)
Inevitably, rent will vary by neighborhood and number of bedrooms. The highest median (not mean) rent in Chicago—$1,925—can be found on the Near North Side, which includes the trendy River North neighborhood, as well as the well-established Gold Coast and Streeterville neighborhoods.
West Town, home to Bucktown and Wicker Park, has a mean rent of $1,750. The Near West Side, which includes Greektown, is comparable at $1,760.
Rent becomes more affordable the further away from downtown. The mean rent for Lincoln Park, popular among young professionals and families alike, rings in at $1500. Further north, Lakeview’s median rent is $1245, while Lincoln Square is $1045. (Source: Apartment Therapy)
Chicago is a city that’s all about location. As they say, “Location, location, location!” Whether you’re looking for proximity to work or an eclectic neighborhood to fit your personality, it’s possible to find a neighborhood within your budget. Just do your research and start looking for apartments well before your move!