Rental market snapshot for Washington Park, Chicago
Washington Park rental market summary
The rental market in Washington Park, Illinois is showing signs of growth. In July of 2023, there were 146 new listings, a significant increase from the previous month. The median rent for the same period was $1,350, representing a 3.6% increase from the previous month and a 12.5% increase from the same period in 2022. This indicates that the rental market in Washington Park is becoming increasingly competitive, with more people looking to rent in the area.
The increasing demand for rental properties in Washington Park is likely due to the area's many amenities and attractions. The city is home to a variety of parks, restaurants, and entertainment venues, making it an attractive destination for renters. Additionally, the city's proximity to Chicago and other major cities makes it an ideal location for those looking for a more affordable alternative to city living. With more people looking to rent in the area, it is likely that the rental market in Washington Park will continue to grow in the coming months.
Median rent for all residential properties in Washington Park
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The most expensive listings and top trending buildings in Washington Park
Most Expensive Listings
| Address | Rent Price | Bed / Bath |
|---|---|---|
| 5855 S Indiana Ave | $2,800 | 3 / 1.0 |
| 5832 S Michigan Ave | $1,974 | 4 / 2.0 |
| 5910 S King Dr | $1,933 | 4 / 1.0 |
| 5832 S Michigan Ave | $1,930 | 4 / 2.0 |
| 5602 S Michigan Ave | $1,900 | 4 / 1.0 |
Top Trending Buildings
| building name | avg rent price |
|---|---|
| Five T Management Inc. | $850 |
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Bedroom Breakdown in Washington Park
Washington Park neighborhood apartments rents
Uh-oh! Looks like we don't have any data in Washington Park, Illinois, for studios.
The rental market for 1-bedroom apartments in Washington Park, Illinois is showing signs of growth. In June 2023, there was one new 1-bedroom listing, indicating an increase in demand for rental units. The median rent for 1-bedroom apartments in June 2023 was $850, a decrease of 29.0% from the median rent in April 2023 of $1,198. This suggests that the rental market is becoming more affordable for tenants, and that the demand for 1-bedroom apartments is increasing.
The rental market for 2-bedroom apartments in Washington Park, Illinois is showing signs of growth. In July 2023, there were 10 new 2-bedroom listings, which is a significant increase from the previous month. The median rent for 2-bedroom apartments in July 2023 was $1,105, which is an 11.9% increase from the median rent in June 2023. This indicates that the rental market for 2-bedroom apartments in Washington Park is becoming more competitive and that prices are likely to continue to rise in the near future.