LINCOLN PARK — Residents of Lincoln Park are paying a premium to rent in the neighborhood.
Median rent in Lincoln Park is the highest in the city, and rent in the neighborhood has increased by more than 90 percent over the last five years, according to data from Zillow.
According to Zillow, median rents in typically pricey places like the Gold Coast, Streeterville and the Loop have dropped since last year.
Lincoln Park residents also saw the highest year-over-year median rent increase from March 2014 to March 2015.
Rent went up more than 8 percent.
Over a five-year period, median rent has increased by 93 percent in Lincoln Park, which is also the greatest increase in the city, according to the data.
Paul Biasco discusses why rent is skyrocketing all over:
The website crunched the numbers into smaller pockets of the neighborhood including, RANCH Triangle, Sheffield Neighbors and Wrightwood Neighbors and found the top five neighborhoods on their list were all in Lincoln Park.
The next highest median rent is Wicker Park, followed by Ukrainian Village.
Residents of RANCH Triangle paid on average $2,667, and Lincoln Park paid $2,567 for a rental unit in March, according to the latest available data.
The median rent in Wicker Park was $2,302.
The median rental price means that half of apartments rented for more, half for less.
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