Dec
21

The Numbers: Surprise: North Side Rents Have (Mostly) Risen in 2014

December 21, 2014
Chicago_Rents_2014.png [click to expand]

If you live in Chicago (and you probably do), this news is not likely to surprise you too much: rents have gone up this year. Yes, rents across the North Side have mostly gone up in 2014. According to apartment search site Zumper, the the median rent in Chicago has gone up just under 3% this year, but some neighborhoods have seen their prices shoot up 10% or higher. For instance, Zumper states that rents in the Near North Side have gone up 14% this year alone, while Uptown’s rents have gone up 9%, Lincoln Park has seen an increase by 6.25% and rents in the West Town area have gone up just under six percent. According to the data, the only real oddball in the greater North Side area is Avondale, who has seen a decrease in rent prices. That won’t last for long though as increasing rents in Logan Square will likely push more residents further northwest.
·Chicago Rents Rose 2.8% in 2014 [Zumper]

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