Chicago Rent Prices Ranked 8th Highest in the Nation
According to the most study by Zumper, the city of Chicago had the eighth highest rent prices in the United States as of January 2017.
Chicago has bumped up one spot since December 2016 as its rents for one bedroom units rose 2.2% to $1,860 while two bedroom prices climbed 2% to $2,510, making it the eighth most expensive rental market in the United States. The rental company released a map with median rent pricing for each neighborhood.
The priciest neighborhoods that landed on the highest end of the pricing spectrum include River North, Streeterville, Gold Coast, West Loop and Loop, with the latter having the highest median rent price of $2,510 for a one bedroom unit. On the lower end, Hermosa, Chinatown and Bridgeport, with all falling below $910 for a one bedroom unit.
For the rest of the country, San Fransisco and New York City rank as the first and second cities with the highest rent prices, with median of $3,550 and $2,980 respectively. New York, which has seen prices for one bedroom and two bedroom apartments down 9.1% and 10.5% compared to last December.
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