The city drops down a spot since December
According to a March 2017 National Rent Report by Zumper, the city of Chicago had the tenth highest rent prices in the United States, after Seattle and Miami. The rental company released a map that details median rent pricing for the top ten cities with the highest rent in the country, with Chicago’s overall median netting out at $1,730 for a one bedroom apartment, a 4.4% month-over-month decrease. Our last report in December 2016 noted the median price at $1,820.
The overall decrease is due to a drop in average price for both one and two bedroom units in Chicago, with two bedrooms netting out at a 5% month-over-month decrease to $2,280 for March’s median price.
Despite both experiencing a month-over-month decrease in median price, San Francisco and New York City still rank as the first and second cities with the highest rent prices, with medians of $3,270 and $2,930 respectively. To see the rest of Zumper’s national report, click here.
