Illinois’ one-bedroom median rent was $1,325 last month. While this might seem like a reasonable cost to bear, a closer look on platforms like Zillow, Apartment List or Zumper will reveal that only a few metropolitan areas in the state have median rents equal to or lower than this figure. This said, if you’re thinking of heading for the suburbs for some financial relief, you might take a closer look at the numbers.
Zumper’s Chicago Metro Area Report analyzed active listings last month to show the most and least expensive cities and cities with the fastest growing rents.
Let’s break it down.
The Most Expensive
- Lombard ranked as the most expensive city, with one-bedrooms priced at $2,030.
- Chicago was second with rent at $1,870.
- Arlington Heights ranked as third with rent at $1,840.
The Least Expensive
- Dekalb was the most affordable city with rent at $680.
- Gary was second with rent at $780.
- Joliet was third with rent at $880.
The reality is that multifamily rent is rising everywhere—and fast.
The Fastest Growing (Y/Y%)
- Lombard had the fastest growing rent, up 37.2% since this time last year.
- Des Plaines saw rent climb nearly 30%, making it the second-fastest growing.
- Elmhurst was third with rent increasing 23.8%.
The Fastest Growing (M/M%)
- Skokie had the largest monthly rental growth rate, up 6.2%.
- Naperville, Des Plaines and Arlington Heights were tied for second with rents all climbing 5.7%.
- Schaumburg saw rent grow over 4% last month, making it third.
