CHICAGO — Rent prices in Chicago are the highest they've been in three years, but compared to cities on the East and West coasts, we've got it good.
Lovely, a San Francisco-based rental website, released a quarterly report Wednesday breaking down rental markets across the country. Though Chicago's median rent price — $1,684 — is the highest it's been in years, "you could rent two apartments in Chicago for the price of one in NYC," the company says.
While the 12 percent spike in median rent can be felt in some neighborhoods, more than 30 neighborhoods fell below the $1,684 median price, the report shows.
Lakeview, Roscoe Village, Lincoln Park, Ukrainian Village and Avondale all fell in the $1,600-$1,700 median rent area, while the Near North Side, Loop, Wicker Park, Bucktown, South Loop and Near West Side had median rents well above average.
The area around Goose Island clocked in at $2,350 median rent, the highest in the city.
Aside from the South Loop and the Little Italy/University Village area, the entire South Side had rent prices below the median. Hyde Park and Beverly clocked in around $1,300, while rents in the South Side neighborhoods of Chatham, Englewood and Grand Crossing ranged from $650 to $1,000 a month.
The Northwest Side also saw below-average rent prices. Portage Park, Albany Park and Dunning had rents in the $1,000 to $1,300 range.
Pet owners also were included in the report, which counted the number of pet-friendly units in various neighborhoods. More than 50 percent of units in the Loop, South Loop, Chatham, Goose Island and the West Loop were pet-friendly, the report showed.
Folks looking for one- or two-bedroom apartments saw prices increase slightly, while prices fell by about $300 for studio apartment seekers in the last year.
Check out the full report here, and taunt your friends in the San Francisco area about their $3,500 rents if you're feeling cruel.
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