{"id":14452,"date":"2017-02-24T13:10:46","date_gmt":"2017-02-24T18:10:46","guid":{"rendered":"https:\/\/urbanmatter.com\/chicago\/?p=14452"},"modified":"2017-02-27T09:29:19","modified_gmt":"2017-02-27T14:29:19","slug":"chicago-neighborhoods-rent-prices","status":"publish","type":"post","link":"https:\/\/urbanmatter.com\/chicago\/chicago-neighborhoods-rent-prices\/","title":{"rendered":"See Which Chicago Neighborhoods Rose and Fell in Rent This Year"},"content":{"rendered":"

In general, rent in the suburbs increased significantly more than Chicago’s neighborhoods<\/h3>\n

In December 2016, we shared a month-by-month study from Zumper that shared where Chicago lies on the national rent price scale, at that time ranking in at the ninth highest<\/a>.<\/p>\n

Although the city stacks up with some of the most expensive cities in the country, according to a recent study by RentCaf\u00e9<\/a>, it comparatively hasn’t seen much of a shift year-over-year, with only a moderate 5.9% increase from 2015 to 2016. This rate is consistent with that of the national growth rate, and it is anticipated grow by 4% in 2017.<\/p>\n

Breaking it down by neighborhood, there are some that grew drastically while others fell significantly. Rent prices in Douglas grew the most of any other neighborhood<\/strong> with an 8.3% increase, followed by a 7.2% increase in Lincoln Square.\u00a0Grand Boulevard saw the highest drop in rent last year<\/strong> at a 9.9% decrease, followed by a 5.1% decrease in Lawndale. The neighborhood that stayed the most stagnant in pricing was The Loop<\/strong>, at only a 1.3% increase, despite the fact that it is still the most expensive area in the city.<\/p>\n

The study also looked at Chicagoland as a whole, noting that rent pricing in Elmhurst, McHenry, and Oak Park were more expensive than Chicago, increasing at 14.2%, 9%, and 8.6% respectively. These were the top five most expensive rents in Chicagoland:<\/p>\n