Rental market snapshot for Edgewater, Chicago
Edgewater rental market summary
The rental market in Edgewater, Illinois is showing signs of growth. In July 2023, there were 752 new listings, a significant increase from the previous month. The median rent in July 2023 was $1,595, a 1.2% increase from the previous month and a 7.4% increase from the same time last year. This indicates that the rental market is becoming more competitive and that prices are increasing.
The increasing number of listings and rising prices suggest that Edgewater is becoming an increasingly attractive place to rent. With more people looking to rent in the area, landlords are able to increase their prices and demand higher rents. This is good news for landlords, but it could mean that renters have to pay more in order to secure a rental property.
Median rent for all residential properties in Edgewater
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The most expensive listings and top trending buildings in Edgewater
Most Expensive Listings
| Address | Rent Price | Bed / Bath |
|---|---|---|
| 1733 W Peterson Ave | $5,200 | 3 / 2.5 |
| 5700 N Ashland Ave | $4,800 | 3 / 3.0 |
| 1214 W Rosemont Ave | $4,500 | 5 / 2.0 |
| 5440 N Sheridan Rd | $4,436 | 2 / 2.5 |
| 5440 N Sheridan Rd | $4,102 | 2 / 2.5 |
Top Trending Buildings
| building name | avg rent price |
|---|---|
| FLATS | $2,260 |
| Compass Real Estate | $1,989 |
| Horizon Realty Group | $1,810 |
| Pabcor Management | $1,665 |
| Becovic Management Group Inc. | $1,625 |
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Bedroom Breakdown in Edgewater
Edgewater neighborhood apartments rents
The rental market for studios in Edgewater, Illinois is showing signs of growth. In July 2023, there were 94 new studio listings, a 4.2% increase from the median rent in June 2023. The median rent for studios in July 2023 was $1,075, a decrease from the median rent in June 2023 of $1,122. This suggests that the rental market for studios in Edgewater is becoming more competitive, with more options available for renters.
The rental market for 1-bedroom apartments in Edgewater, Illinois in July 2023 is stable. There were 59 new 1-bedroom listings in July 2023, and the median rent for 1-bedroom apartments remained the same at $1,595 from June to July 2023, indicating no change in rent. This suggests that the rental market for 1-bedroom apartments in Edgewater is stable and that renters can expect to pay the same amount for a 1-bedroom apartment in July 2023 as they did in June 2023.
The rental market for 2-bedroom apartments in Edgewater, Illinois is showing signs of stability. In July 2023, there were 35 new 2-bedroom listings, and the median rent for 2-bedroom apartments was $2,045, a 2.6% decrease from the median rent in June 2023. This suggests that the rental market is not experiencing any drastic changes, and that the prices of 2-bedroom apartments are staying relatively consistent.