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Cost of Renting an Apartment in Chicago

Renting in Chicago offers a delightful range of options, from posh neighborhoods that scream luxury to charming areas that are affordable and adorable. Let’s explore the priciest and most affordable spots in the city.

The Most Expensive Neighborhoods

• Gold Coast: Chicago's glittering Gold Coast welcomes all who love to bask in opulence. Located along the picturesque lakefront, this neighborhood is where you’ll see historic mansions, chic boutiques, and mouth-watering gourmet restaurants. Renting an apartment here is like having a golden ticket to the good life, but it comes with a price tag to match. On average, you can expect to shell out anywhere from $2,500 to $7,000+ per month for a slice of this exclusive paradise. If it’s within budget and you have a taste for the finer things, the Gold Coast is the place to be.
• River North: If you're looking for a neighborhood that's always lit up with energy, look no further than River North. This area is a perfect blend of Chicago's legendary nightlife, cutting-edge art scene, and upscale urban living. Picture yourself settling into a stylish loft with exposed brick walls and sky-high ceilings, just a stone's throw from the hottest bars, clubs, and galleries in town. Of course, this kind of lifestyle doesn't come cheap! Expect to pay anywhere from $3,000 to $5,750+ per month.
• West Loop: Once a gritty meatpacking district, the West Loop has undergone a stunning transformation to become Chicago's trendiest neighborhood. This foodie wonderland is home to some of the city's most acclaimed restaurants, as well as uber-chic lofts carved out of former industrial spaces. If you want to immerse yourself among the city's hip and happening crowd, have a seat at West Loop’s trendsetter table. Rents here range from $2,600 to $5,000+ per month. But hey, can you really put a price on being part of the coolest scene in town?
• Streeterville: Get ready to fall head over heels for Streeterville, Chicago's crown jewel on the lakefront! This dazzling neighborhood is a perfect mix of upscale amenities, stunning architecture, and unbeatable views of Lake Michigan. Imagine waking up every morning to the gentle lapping of waves and the glistening skyline stretching out before you. But that's not all – Streeterville is also the destination of some of the city's most iconic attractions, from Navy Pier to the Magnificent Mile. Whether you're in the mood for a gourmet dinner, a shopping spree, or a night out on the town, you'll see it all just steps from your front door. Of course, this kind of prime real estate doesn't come cheap. Average rents in Streeterville can range from $2,500 to a whopping $8,000+ per month, depending on the size and luxury of your abode.
• Fulton Market: Get ready to dive into the lap of luxury in Fulton Market, Chicago's hottest and most exclusive riverfront neighborhood! This trendy spot is where the city's elite come to play, and it's easy to see why. From sipping craft cocktails on your private balcony to taking in the breathtaking views of the Chicago River, the rentals here are jealousy-inducing. With Michelin-starred restaurants, bougie boutiques, and Chicago celebrities living next door, renters here will be living the high life. But be warned: renting an apartment in this urban oasis comes with a hefty price tag. Average rents for a one-bedroom apartment in Fulton Market are $2,600+ per month, making it one of the most expensive neighborhoods in the city. With its chic converted warehouses, sleek high-rises, and unbeatable location, Fulton Market is the ultimate playground for those who demand the very best.

More Affordable Neighborhoods

• South Shore: Located along the scenic shores of Lake Michigan, South Shore is a neighborhood that offers a perfect balance of affordability and natural beauty. This up-and-coming area is known for its stunning beaches, expansive parks, and a growing number of restaurants and shops. And with rents ranging from $900 to $1,100 per month, South Shore is one of the most budget-friendly neighborhoods in the city.
• Rogers Park: Nestled on the northernmost edge of Chicago, Rogers Park is a spot that feels like a world within itself. This diverse neighborhood is a melting pot of cultures, where you can hear a symphony of languages spoken on every street corner and taste a global array of flavors at the local restaurants. From the local street art to the lively festivals that bring the community together, Rogers Park is a place where every day feels like a celebration. And with rents ranging from $1,000 to $1,500 a month, you can be part of this cultural experience without breaking the bank.
• Avondale: Imagine a neighborhood where creativity is the currency, and everyone has plenty to spare. That's Avondale in a nutshell. This neighborhood on Chicago's Northwest Side is like a secret clubhouse for artists, musicians, and foodies who march to the beat of their own drum. The streets are lined with colorful murals, eclectic shops, and some of the most innovative restaurants in the city. It's the kind of place where you can stumble upon a pop-up gallery in an abandoned warehouse or discover your new favorite band playing in someone's backyard. And the best part? You can snag a spot in this creative haven for just $1,300 to $1,600 a month. So pack your bags, grab your paintbrush (or your appetite), and come join the party in Avondale!
• Edgewater: If you're craving a little lakeside apartment without the Gold Coast price tag, Edgewater could be a top contender. This charming neighborhood is all about that laid-back lifestyle, with plenty of opportunities to stroll along the water, grab a bite at a cute café, or hunt for treasures at a vintage shop. And with rents ranging from $1,200 to $1,600 a month, you can enjoy all the perks of a beach town without the tourist traps or the sky-high costs.
• Uptown: If Chicago were a movie, Uptown would be the scene-stealing supporting character that steals your heart. This neighborhood has a personality all its own, with a mix of vintage charm and cutting-edge cool that's impossible to resist. One minute you're sipping coffee at a cozy café, the next you're browsing the racks at a trendy boutique or catching a show at a historic theater. And when the sun goes down, Uptown really comes alive, with a nightlife scene that includes everything from dive bars to upscale lounges. With rents ranging from $1,300 to $1,700 a month, Uptown offers a front-row seat to the best of Chicago without the downtown prices.

If you're ready to explore the ins and outs of Chicago's rental scene, our Neighborhood overviews provide an insider's look into the unique personality and price range of each community. Think of it as your personal guide to the city's most buzz-worthy areas, complete with all the nitty-gritty details you need to locate your perfect apartment in Chicago.  Don't miss our Guide for Moving to Chicago.

Actual Costs of Renting an Apartment in Chicago

Renting an apartment in Chicago involves more than just the monthly rent check.  See our guide on the detailed costs of renting an apartment in Chicago. To help budget for your move, here's a rundown of the various costs you should expect when settling into your new apartment:

Application Fee to Run Your Credit Check:  Think of this as the cover charge to get into the rental club. Application fees cover the cost of running a credit check and can range from $50 to $100.  See Domu's detailed guide on credit scores.

Security Deposit: This is your landlord’s safety net, ensuring that if you decide to host a wild paintball party in the living room, they’re covered. Security deposits typically equal one to two months’ rent and are refundable, assuming you leave the place as pristine as you found it.

Move-in Fee: Some landlords opt for a non-refundable move-in fee instead of, or in addition to, a security deposit. This fee, often ranging from $300 to $800, covers administrative costs and preparation of the apartment for your arrival. It’s a one-time hit, so budget accordingly.

Utilities: Your rent might cover some utilities, but usually, you’re on the hook for electricity, gas, water, heat, air conditioning, and internet. Budget around $200-$300 per month for these expenses.

Trash Removal: While often included in your rent, some buildings charge a separate fee ($10-$20 per month) for trash removal. This ensures your garbage doesn’t pile up like a modern art installation.

Parking:  If you have a car, you’ll need a place to park it. Parking fees can vary widely, expect to pay anywhere from $75 to $400 per month for a designated spot, depending on your building and location. While parking permits are only $25, it’s a worthwhile investment to avoid the dreaded Chicago winter street parking shuffle.

Street Parking Permit: For those who prefer street parking, a city permit is necessary in certain neighborhoods and streets. These permits are relatively inexpensive, usually around $25 annually, but essential for avoiding those pesky parking tickets.

Amenities Fee: Rentiing an apartment in a building with swanky amenities like a gym, pool, or rooftop deck often comes with an additional fee. This fee can range from $50 to $200 per month, depending on the level of luxury you’re indulging in.

Pet Fees: Furry friends come with their own costs.  Pet fees, which can include a one-time deposit and/or monthly pet rent, help cover the extra wear and tear caused by your adorable, but occasionally mischievous, companions. Landlords often charge a pet deposit ($200-$500), a one-time pet fee ($200-$400), and/or monthly pet rent ($25-$50 per pet) to cover potential damages.

Renter’s Insurance: Renter’s insurance is your safety net, covering personal property and liability. It’s a small monthly expense, typically around $15 to $30, but provides peace of mind in case of unexpected events.

Credit Scores: While not a fee, your credit score plays a crucial role in securing an apartment. Generally, a score of 620 or higher is preferred, but requirements can vary by landlord. If your score isn’t stellar, a cosigner might be necessary. For more details on credit score thresholds and how cosigners work, check out our detailed guide on credit scores.

Apartment Prices and Styles by Neighborhood

Do you want tree-lined streets and a quint “stepped onto the set of Gilmore Girls” vibe? Or are you looking for the hustle and bustle of a futuristic metropolis, where you can window shop until your legs give out beneath you and get a taco at 4 am? Whatever your budget and vision for your future pad are, here are some categories to keep you aligned with your goals.

Luxury Apartments

In areas like the Magnificent Mile, Streeterville, Gold Coast, West Loop, South Loop, Chicago Loop, Lincoln Park, and River North , expect to find upscale apartments with premium price tags. These neighborhoods feature high-rise buildings with luxurious amenities like infinity pools and state-of-the-art fitness centers. If you're looking for panoramic city views and concierge services, this is your spot. Beyond their swanky digs, they also offer unlimited potential for entertainment, shopping, and dining. As you’d expect, luxury extends beyond the walls and flows unhindered through these city streets.

Affordable Apartments

On the hunt for something budget-friendly? Browse our listings for Rogers Park, Bronzeville, Avondale, River West, North Lawndale, Humboldt Park, Albany Park, Portage Park, Near West Side, and Hyde Park. These neighborhoods have an eclectic collection of vintage buildings, three-flats, and single-family houses for rent, with a rent considerably below the city median. But these areas offer more than just a cheap place to rest your head. Rogers Park is also home to Loyola University and has some of the best beaches in Chicago, like Tobey Prinz Beach Park. Hyde Park is where University of Chicago students sleep through class and the newly named Griffin Museum of Science and Industry stands proud, it's Beaux-arts architecture from the 1893 beckoning in tourists, locals, and the perpetually curious.

Trendy and Modern Apartments

Neighborhoods such as West Loop, Fulton Market, River North, South Loop, Streeterville, and Gold Coast are known for their trendy, modern apartments. Here, you’ll see sleek designs, high-end finishes, updated vintage walk-ups, and transformed historic buildings. These areas are perfect for young professionals and anyone looking to be in the heart of the city's hottest art, music, and foodie scenes. But if you’re on the low end of the hipster scale, don’t worry! Alongside their reputation for being trendsetters, they are also incredibly inviting, with people from all ages and walks of life making their home among converted warehouses and artist loft apartments.

Family-Friendly Apartments

Lincoln Park, Lakeview, Wicker Park, Bucktown, Logan Square, Old Town, Graceland West, Roscoe Village, and Ravenswood are neighborhoods where kids run amok, neighbors struggle with untangling strollers and leashed puppies, and the parks are filled on the weekends with picnic blankets and soccer balls. While there is a wide assortment of rental options, from studios to 4-bedroom apartments, the focus is on the smaller details. Bay windows, hardwood floors, high ceilings, the remnants of historic architecture that has persevered through the decades. But that doesn’t mean construction ended in the 1950’s! There are plenty of contemporary condos and renovated vintage walk-ups to tour, and with a demographic that skews younger, the family-friendly laidback vibe is offset with the youthful exuberance of the many festivals and events that take part in these charming suburbs.

Loft Apartments

If industrial chic is your style, check out the South Loop, West Loop, Fulton Market, River West, Streeterville, Printers Row and Pilsen. These areas are filled with an eclectic assortment of loft apartments, featuring open floor plans, exposed brick, and high ceilings. Perfect for artists and those seeking a unique rental, these apartments offer a blend of historic charm and modern convenience. In the South Loop, many buildings are converted warehouses that now serve as stylish residences, often with large windows and industrial details that create an airy, spacious feel. Pilsen, known for its colorful arts scene, offers similar spaces in a neighborhood filled with vibrant murals, stuffed galleries, and enough cultural events to fill up every weekend. With their distinctive styles and inclusive communities, these neighborhoods are perfect for those looking to live in a space as creative as they are.

Pet-Friendly Apartments

If you're bringing along some four-legged friends, getting a pet-friendly apartment pretty much goes without saying. There isn’t a neighborhood in Chicago that doesn’t have a building ready to accommodate your little collared cutie, and with amenities like spacious dog parks and luxurious pet spas, many apartments go above and beyond to ensure your pets feel right at home. To make searching the perfect apartment for both you and your pet easier, check out our Pet-Friendly Apartments page. Here, you’ll see detailed listings and amenities tailored to pet owners, helping you get an apartment where every member of the family feels welcome. Whether you're looking for a high-rise with a rooftop dog park or a cozy loft with nearby green spaces, you'll find plenty of apartments for rent to keep tails wagging and paws happy.

Low-income Apartments

Searching for affordable apartments for rent in Chicago is made easier with numerous low-income apartment options. Neighborhoods like Uptown and Bronzeville have programs and buildings specifically designed for low-income families and individuals. To find these apartments, consider reaching out to local housing authorities and non-profit organizations that provide resources and assistance. Helpful resources include:

• Chicago Housing Authority (CHA)
• Illinois Housing Development Authority (IHDA)
• Affordable Housing Online
• HUD’s Affordable Apartment Search

For more information on assistance programs, check out Domu's article on the Section 8 Housing Choice Voucher Program.

Rent Control Apartments

Rent control is a hot topic in Chicago's housing scene. Currently, rent control laws do not exist in the city, but discussions around implementing them are ongoing. This means that while landlords can raise rents, the market remains dynamic and competitive. Keeping an eye on these developments is important for renters looking to understand future trends and potential protections.

Cost of Living in Chicago

Chicago offers a big-city lifestyle with a more manageable price tag compared to coastal giants like New York City, San Francisco, and Los Angeles. Here’s a breakdown of the cost of living in the Windy City.  Make sure to understand all the costs of renting an apartment in Chicago.

Apartments and Housing

Depending on the neighborhood you choose, finding an apartment in Chicago could be like hitting the rental jackpot. Compared to NYC, SF, or LA, Chicago’s housing market is a breath of fresh air. For instance, the average rent for a one-bedroom apartment in downtown Chicago is around $2,432 per month, while outside the center, it drops to about $1,518 per month. Compare that with NYC’s sky-high rents (nearly double!) and you’ll see why Chicago feels like a steal.

Imagine renting a luxury high-rise in the Loop with skyline views or settling into a cozy vintage apartment in Lincoln Park without selling your soul. Whether you’re eyeing a studio in Uptown or a condo in the West Loop, you’ll quickly understand that Chicago offers better bang for your buck while still supplying all those city perks. While the rental market in Chicago is more affordable than other large cities, it is seeing significant annual increases in rent. This makes it essential to start your apartment search early and stay updated on market trends to secure the best deals.

Taxes in Chicago

As much as we all hate them, taxes are a part of life and an important consideration when moving to a new city. The city’s sales tax stands at 10.25%, one of the highest in the nation. And unfortunately, real estate taxes have been on the rise, impacting rental prices as landlords adjust to cover these increased costs. However, the silver lining is that despite these higher taxes, the overall cost of living, including housing and everyday expenses, remains lower than in NYC and LA.

Alright, no one wants to do it, but let’s talk taxes. Chicago’s sales tax stands at 10.25%, which might make you gulp down your deep-dish pizza a bit quicker. And yes, real estate taxes have been climbing, nudging rental prices up as landlords adjust. Despite these taxes, the overall cost of living in Chicago remains lower than in NYC and SF. 

Cost of Living in Chicago Compared to NYC, LA, and SF

When you stack Chicago up against NYC, LA, and SF, the Windy City wins the battle hands down. Housing costs are significantly lower, allowing you to stretch out in more spacious apartments for rent. For example, renting a two-bedroom apartment in Chicago costs about $1,480 per month, which is 3.5% more than the national average but significantly lower than what you’d pay in NYC or SF. Groceries, dining, and transportation are all more affordable, giving you extra cash to enjoy the city’s many perks. By searching Domu for apartments in Chicago, you’ll get that exciting urban experience you crave without the eye-watering expenses.