Depending on the location, it may cost a little more to rent a Chicago apartment or renew your lease this year. The Gold Coast, River North, Streeterville, Old Town and Lincoln Park, where inventory is somewhat limited, will see the biggest rent increases while neighborhoods such as the South Loop, Lakeview, Ravenswood, Edgewater, Lincoln Square, Andersonville, Rogers Park, Portage Park and Jefferson Park will see slight to moderate increases. So why are some
Many
While the housing market may be showing some signs of improvement, it's not enough to install confidence in would-be buyers thus, they continue to rent.
Chicago's colleges and universities are seeing a significant increase in enrollment and therefore, an increased demand for off-campus housing.
As the economy improves and people start going back to work, many of the people that had moved back home with their parents or had a roommate to save money, are moving out on their own again.
The rent range chart below will give you a good idea of what neighborhood rents will be in 2011. Keep in mind that rents are determined by many factors including location, market trends and upgrades/amenities. While many areas will see increases this year, there are still many deals out there. Check with a rental expert like, the Apartment People, to find out where the deals are.
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This blog is dead. 4 weeks between postings........?