Rental market snapshot for Near North, Chicago

Near North rental market summary

The rental market in Near North, Illinois is showing signs of growth. In July 2023, there were 2,662 new listings, a significant increase from the previous month. The median rent for the month of July 2023 was $3,000, a 1.0% increase from June 2023 and a 4.9% increase from July 2022. This indicates that the rental market in Near North is becoming increasingly competitive, with more people looking to rent in the area and prices increasing.

Overall, the rental market in Near North is showing positive signs of growth. With more listings and increasing prices, the area is becoming an attractive option for renters. With the current trend of increasing prices, it is likely that the rental market in Near North will continue to grow in the coming months.

Median rent for all residential properties in Near North

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The most expensive listings and top trending buildings in Near North

Most Expensive Listings

AddressRent PriceBed / Bath
833 N Clark St$17,0003 / 3.0
920 N Wells St$12,5913 / 2.0
61 E Banks St$12,4902 / 3.0
56 W Huron St$11,8953 / 3.5
1420 N Lake Shore Dr$11,8004 / 4.5

Top Trending Buildings

building nameavg rent price
Golub & Company LLC$3,641
Optima Realty Inc$3,592
AMLI Residential$3,293
Quarterra$3,139
Zillow Rental Network$3,127

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Bedroom Breakdown in Near North

Studio
$2,230
MEDIAN RENT
1 Bedroom
$2,881
MEDIAN RENT
2 Bedroom
$4,242
MEDIAN RENT

Near North neighborhood apartments rents

The rental market for studios in Near North, Illinois is showing signs of growth. In July 2023, there were 124 new studio listings, a 3.7% increase from the median rent in June 2023. The median rent for studios in July 2023 was $2,230, a slight increase from the median rent in June 2023 of $2,150. This indicates that the rental market for studios in Near North is on the rise, and that demand for studio apartments is increasing.

The rental market for 1-bedroom apartments in Near North, Illinois is showing signs of growth. In July 2023, there were 333 new 1-bedroom listings, a 2.6% increase in median rent from June 2023 to July 2023, and a median rent of $2,881. This indicates that the rental market is becoming more competitive and that demand for 1-bedroom apartments is increasing.

The rental market for 2-bedroom apartments in Near North, Illinois is relatively stable. In July 2023, there were 158 new 2-bedroom listings, with a median rent of $4,242. This is only a .2% increase from the median rent in June 2023, which was $4,235. This indicates that the rental market is not experiencing any significant changes in pricing, and that the market is relatively stable.

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Frequently asked questions

Our data is best categorized as "alternative data", which is a burgeoning sector. Through partnerships and direct feeds, we extract key factual elements that are publicly available within rental listings on internet listing sites and property websites. Once aggregated, we mine through the data to parse out relevant insights and calculate important metrics, benchmarks, and other KPIs. Each week, our system sifts through millions of listing observations and other pockets of market information to deliver the most comprehensive picture of rental housing available.

This is a metric that we try not to overthink. Simply, we take each unique listing observation within a geographic boundary and calculate a simple average. Of course, we're careful to filter for duplicates and other listings that aren't reflective of the market.

Yes, but please attribute us accordingly.

Yes. We can deliver bulk raw data in various formats. Please contact us to discuss - [email protected]

While some of our data is refreshed daily and other data comes in weekly, the bulk of it comes in on a biweekly basis.

Our coverage is nationwide! In our platform, we have data points for every ZIP code and neighborhood boundary in the country.

Every rental housing unit is differentiated by attributes such as its location, square footage, and amenity composition. Thanks to machine learning and natural language processing technologies we deploy, we're able to deconstruct our rental listing data points and identify key amenities for each listing. With this information, we're able to give signals around how certain amenities drive rental pricing value in certain areas.

Well, we think so! At the highest level, our process is simple. Listings data is ingested, cleaned (de-duplicated. etc.), analyzed for insights, and then presented to our users.

As of 2023-07-31, the median rent in Near North is $3,000.
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