Multifamily N Illinois

Where can renters find a great deal in Chicago? Trulia knows

Rogers Park is home to Loyola University.

Which Chicago neighborhoods offer the best deals to renters? Trulia takes a stab at finding out in this guest post.

Guest post by Hannah Goodman of Trulia

Home to more than eight major universities, the Chicago metropolitan area is a bustling rental market. Chicagoans are lucky; in many large metropolitan areas like San Francisco and Manhattan, more than 85 percent of one-bedroom apartments rent for $2,000 plus a month. The Windy City’s many diverse neighborhoods offer easy access to public transportation and university campuses with an average rent of $1,786 a month.

At Trulia, we took a step further to discover which Chicago neighborhoods are most affordable, safe and accessible.  The three communities that rose to the top were Rogers Park, Kenwood and Hyde Park.

Rogers Park, the northernmost neighborhood of Chicago, has an average rent of $902.50 per month for a one-bedroom apartment.  Despite the area’s distance from downtown, Rogers Park is home to multiple transit stops, making any commute a simple one.  As one of the most culturally diverse neighborhoods in the city, the area offers great restaurants, theaters and nightlife options, within walking distance from most rental units.

Next is Kenwood, with an average rent of $928 a month.  Kenwood is an affordable lakefront neighborhood known for its tree-lined Chicago streets and art-deco architecture. Most rental units in the area are multi-family high rises. The neighborhood’s proximity to nearby University of Chicago brings a great deal of young students into the area. While Kenwood itself is a mostly residential area, a short walk or bus ride will get you to an area with more nightlife options.

One of those areas, just south of Kenwood, is Hyde Park. It is home to many restaurants and bars. However, with the average rent for a one-bedroom sitting at a hefty $987, it is the priciest of the three areas. As the site of the 1893 Chicago World’s Fair, Hyde Park is one of Chicago’s most famous and popular neighborhoods for locals and tourists alike.  A rental in East Hyde provides access to that history. In addition to the Lake Michigan waterfront and the University of Chicago Campus, the area also caters to commuters, with nine transit stops and one train stop.

Rogers Park, Kentwood and Hyde Park are just a few of Chicago’s great rental neighborhoods. With great amenities almost universal access to Chicago’s excellent public transportation system, there is a home and neighborhood for renters in every price range.