Chicago is a city of neighborhoods (77 “community areas," to be exact), and Chicagoans definitely feel a sense of pride about where they live.
Lake Michigan is the city's crown jewel, with 18 miles of trails and 24 beaches to enjoy. Millennium Park is one of the city's summer fun hotspots, with free music, films and more happening almost daily from Memorial Day to Labor Day.
Major employers, including McDonald's and United Airlines, have their headquarters in Chicago, and other companies, including Google and Amazon, have offices here, as well. Chicagoans love their food. Locals welcome innovative chefs pushing the envelope when it comes to fine dining. Michelin gave 25 Chicago restaurants one-, two- or three-star honors in 2020.
Neighborhoods in Chicago often have their own park and are close to CTA train lines and busses. For perspective, the CTA operates 140 bus routes and 145 train stations.
Thinking about moving to Chicago or making a neighborhood switch? Depending on your budget and living needs, one of Chicago's many unique neighborhoods is sure to be a fit.
Since Chicago is a city of neighborhoods, the rent runs the gamut and depends on many factors. More crowded and popular neighborhoods, usually located along Lake Michigan or near downtown, are higher priced. A one-bedroom can range from $585 to $3,227 a month in Chicago, with an average rent around $2,332.
Generally, the Midwest fares pretty well when it comes to renting. The national average is $1,617. Renters pay more in rent for easier access to transportation, restaurants and entertainment.
When looking at a Chicago neighborhood map, it's easy to spot the neighborhoods that are priced on the upper rent bracket. They're closer to Lake Michigan and downtown because there are taller apartment buildings and skyscrapers taking advantage of Lake Michigan views and access. Plenty of public transportation options near those areas, to accommodate those working in the Loop, make it easier to get around and into the business district.
Go south, north and west from Lake Michigan and the Loop and the neighborhoods are less dense and quieter. There you'll find more space and more affordable options.
No surprise, most of the top 10 most expensive Chicago neighborhoods are either right along Lake Michigan or within a mile or two. Those who live in the South Loop, which includes Printer's Row and Central Station, can get to Grant Park, the Lakefront Trail and Museum Campus.
Streeterville has skyscrapers along the lake, but excess inventory has helped bring the average rent down $2,610 per month compared to $3,227 in 2019.
| Rank | Neighborhoods | Average 1-BR Rent Price | YoY Rent Price Change |
|---|---|---|---|
| 1 | Goose Island | $2,849 | 2.21% |
| 2 | Fulton Market | $2,825 | 1.38% |
| 3 | Streeterville | $2,610 | -19.11% |
| 4 | Central Station | $2,502 | N/A |
| 5 | Wrigleyville | $2,500 | 1.26% |
| 6 | West Loop | $2,488 | -2.59% |
| 7 | West Town | $2,448 | -7.07% |
| 8 | Wicker Park | $2,448 | N/A |
| 9 | Near West Side | $2,428 | -4.65% |
| 10 | Printer's Row | $2,396 | N/A |
The farther south, north and west from the downtown area you trek, the less expensive rents will be. While many of these areas still have their version of Main Street to shop, having a car will help to get around.
Each of these neighborhoods has its own neighborhood charm and sense of community. Those living in Austin and South Austin neighborhoods can walk across Austin Boulevard toward the Oak Park shopping district along Lake Street, in addition to West Madison Street mom-and-pop shops and local restaurants.
Those living in West Ridge and West Rogers Park have a number of shopping and restaurant options along busy Devon Avenue. While rents in some areas have risen, such as in the Far Southeast Side, it's possible to find a one-bedroom apartment for less than $1,000 a month.
| Rank | Neighborhoods | Average 1-BR Rent Price | YoY Rent Price Change |
|---|---|---|---|
| 1 | South Chicago* | $613 | 4.70% |
| 2 | Far Southeast Side | $727 | 24.27% |
| 3 | Chatham* | $756 | N/A |
| 4 | East Chatham* | $756 | N/A |
| 5 | South Austin* | $928 | -4.12% |
| 6 | Austin* | $948 | -2.05% |
| 7 | Galewood* | $988 | N/A |
| 8 | West Ridge* | $1,036 | -6.64% |
| 9 | West Rogers Park* | $1,036 | -6.64% |
| 10 | Douglas | $1,101 | -63.96% |
Here's a bird's-eye view of the average rent in Chicago.
| Neighborhoods | Average 1-BR Rent Price | YoY Rent Price Change |
|---|---|---|
| Austin* | $948 | -2.05% |
| Bryn Mawr Historic District | $1,692 | 14.04% |
| Buena Park | $1,310 | -4.29% |
| Central Station | $2,502 | N/A |
| Chatham* | $756 | N/A |
| Clarendon Park | $1,400 | -11.03% |
| Douglas | $1,101 | -63.96% |
| Downtown | $2,258 | -16.93% |
| East Chatham* | $756 | N/A |
| East Hyde Park | $2,356 | -0.32% |
| Edgewater Beach | $1,167 | -17.22% |
| Edgewater | $1,402 | -3.74% |
| Far North Side | $1,396 | -3.47% |
| Far Southeast Side | $727 | 24.27% |
| Fulton Market | $2,825 | 1.38% |
| Fulton River District | $1,862 | -15.29% |
| Galewood* | $988 | N/A |
| Gold Coast | $1,775 | 3.10% |
| Goose Island | $2,849 | 2.21% |
| Greektown* | $2,105 | -27.05% |
| Hyde Park Kenwood Historic District | $1,621 | -14.66% |
| Hyde Park | $2,289 | -3.06% |
| Kenwood | $2,180 | 3.48% |
| Kosciuszko Park* | $1,167 | N/A |
| Lake View East | $1,573 | -22.12% |
| Lakeview | $1,635 | -18.87% |
| Lathrop* | $1,600 | -13.98% |
| Lincoln Park | $1,661 | -17.68% |
| Little Italy | $1,748 | -14.47% |
| Logan Square | $1,662 | -16.05% |
| Near East Side | $2,088 | -19.38% |
| Near North Side | $2,353 | -16.90% |
| Near South Side | $1,886 | -4.37% |
| Near West Side | $2,428 | -4.65% |
| New Chinatown | $1,477 | 2.05% |
| North Kenwood* | $1,427 | N/A |
| North Side | $1,650 | -18.16% |
| Old Town Triangle | $1,715 | -24.85% |
| Park West | $1,449 | -27.22% |
| Prairie Shores | $1,101 | -63.96% |
| Printer's Row | $2,396 | N/A |
| Ranch Triangle* | $2,151 | N/A |
| River North | $2,116 | -23.47% |
| Rogers Park* | $1,280 | -8.35% |
| Sheridan Park* | $1,350 | N/A |
| South Austin* | $928 | -4.12% |
| South Chicago* | $613 | 4.70% |
| South Shore | $1,106 | -4.90% |
| South Side | $2,013 | -7.18% |
| Streeterville | $2,610 | -19.11% |
| The Loop | $2,247 | -19.17% |
| Uptown | $1,427 | 0.08% |
| West Loop | $2,488 | -2.59% |
| West Ridge* | $1,036 | -6.64% |
| West Rogers Park* | $1,036 | -6.64% |
| West Side | $2,395 | -4.65% |
| West Town | $2,448 | -7.07% |
| Wicker Park | $2,448 | N/A |
| Wrigleyville | $2,500 | 1.26% |
Whether you want to live in a high-rise apartment in downtown Chicago or looking for something relaxed, Chicago has a lot to offer its residents. From world-class entertainment and dining to nature paths and Lake Michigan, it's easy to fall in love with Chicago. Get started finding the right home or apartment for you today!
As a Chicago-based freelance writer, Megy Karydes has covered everything from space-aged tomato seeds grown in a Chicago Public School to Chicago Blues musician Lurrie Bell. Her work has been featured in USA Today, Travel + Leisure, Midwest Living magazine and other national and regional media outlets. When she's not out exploring the city with her two children and husband, she's perfecting her air hockey technique.