Timeout Chicago - Jonathan Samples - 28 February 2017
The good news is that rents for one- and two-bedroom apartments in Chicago are lower than they were this time last year; the bad news is that the city is still the 10th most expensive rental market in the U.S. On Tuesday, Zumper released its National Rent Report for March, and Chicago dropped two spots from February’s figures.
The report finds that the median rent for a one-bedroom apartment in the city is $1,730 and a two-bedroom will run you $2,280. Those figures represent declines of 4.4 percent and 5 percent, respectively, compared with February.
And, cheaper rents aren’t a one-off for the month of March. When you look at the year-over numbers, the price decreases are significant. One-bedroom rents are down 7.5 percent from this time last year, and two-bedrooms have dropped a whopping 10.6 percent.