Ever wondered how much it costs to rent a 1 bedroom Chicago apartment?
Luxury 1 bedroom apartments have sprung up in River North, the New Eastside, and Streeterville neighborhoods. This reflects a trend of new developments near downtown that cater to renters who value proximity to work more than bulk square footage. This accounts for some of the higher-than-average rent for 1 bedroom apartments surrounding the Loop.
The Chicago Loop itself is actually less expensive on average than neighborhoods immediately to the north, east and west of downtown. If being close to work while saving a bit on rent is an important factor in your apartment search, consider exploring apartments for rent in Chicago's Loop neighborhood.
Some NW side neighborhoods saw an increase in the average rent for 1 bedroom apartments. The neighborhoods with the most significant year-over-year increases were Bucktown, Avondale, and Logan Square in 2018.
The most affordable neighborhoods from our analysis of 1-bedroom apartments include NW side communities of Portage Park and Albany Park, along with the far north side neighborhoods of Rogers Park and West Ridge. The bottom line: if you work downtown and you’re looking to keep your monthly rent closer to $1,000, then you’ll have to factor in a bit of extra time to your commute.