Rental market snapshot for Near West Side, Chicago
Near West Side rental market summary
The rental market in Near West Side, Illinois is showing signs of growth. In July of 2023, there were 1,552 new listings, a 6.1% increase from July of 2022. This suggests that more people are looking to rent in the area. The median rent also increased from $2,725 in July of 2022 to $2,890 in July of 2023, a 3% increase. This indicates that the rental market is becoming more competitive and that landlords are able to charge more for their properties.
Overall, the rental market in Near West Side, Illinois is showing signs of growth. With more new listings and an increase in median rent, it is clear that the area is becoming more desirable for renters. This is good news for landlords, as they can expect to receive higher rents for their properties. It is also good news for renters, as they can expect to find more options in the area.
Median rent for all residential properties in Near West Side
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The most expensive listings and top trending buildings in Near West Side
Most Expensive Listings
| Address | Rent Price | Bed / Bath |
|---|---|---|
| 164 N Peoria St | $17,995 | 3 / 3.5 |
| 164 N Peoria St | $16,250 | 3 / 2.5 |
| 164 N Peoria St | $15,250 | 3 / 2.5 |
| 737 W Randolph St | $15,250 | 3 / 2.5 |
| 164 N Peoria St | $10,095 | 3 / 2.5 |
Top Trending Buildings
| building name | avg rent price |
|---|---|
| Capilano Properties | $3,089 |
| LPC RentCafe CRM | $3,021 |
| GIG | $2,968 |
| Luxury Living | $2,850 |
| Zillow Rental Network | $2,850 |
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Bedroom Breakdown in Near West Side
Near West Side neighborhood apartments rents
The rental market for studios in Near West Side, Illinois is showing a slight decrease in rent from June to July 2023. In July 2023, there were 58 new studio listings, with a median rent of $2,188. This is a decrease of .6% from the median rent of $2,201 in June 2023. Despite the slight decrease in rent, the number of new studio listings indicates that the rental market in Near West Side is still strong.
The rental market for 1-bedroom apartments in Near West Side, Illinois in July 2023 is relatively stable. There were 134 new 1-bedroom listings in July 2023, and the median rent for 1-bedroom apartments was $2,688, which is a slight decrease of .8% from the median rent in June 2023. This indicates that the rental market is not experiencing any major fluctuations, and that the prices of 1-bedroom apartments are staying relatively consistent.
The rental market for 2-bedroom apartments in Near West Side, Illinois is showing signs of growth. In July 2023, there were 75 new 2-bedroom listings, a 3.0% increase in median rent from June 2023 to July 2023, and a median rent of $3,579. This indicates that the rental market is becoming more competitive and that demand for 2-bedroom apartments is increasing.