CHICAGO — We asked you what you paid for your first apartment in Chicago, and here's what you had to say.
We launched a tool asking you how much your first Chicago apartment cost. We then told you what that type of apartment would cost you today.
One thing is clear. Everyone paid a lot less in rent in the past.
I pulled out my lease from 1990 to check what I paid for a studio apartment in Irving Park. @DNAinfoCHI pic.twitter.com/xbwFGphaD0
— Robert Loerzel (@robertloerzel) May 31, 2016
One Neighborhood Square user told us they paid $45 a month for a Wrigleyville apartment in 1966. That's about $332 in today's money. Another paid $120 for a one-bedroom apartment in Ukrainian Village in 1965. At $911 in today's dollars, that was less of a deal.
But those who started renting in Chicago a few years ago lament today's rent prices.
Rent hikes aren't limited to neighborhoods deemed cool, but apply citywide as well. Noah Schatz, CEO of Domu, which tracks rental data through its listings notes that rent rises in waves. If a hot neighborhood becomes too expensive, people move to another neighborhood where the rent also increases.
If you still haven't used the tool, please do so.
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