Chicago Rents Are 10th Highest In U.S., But They're Getting Lower: Report

 Rents are going down in Chicago, a new report says.

Rents are going down in Chicago, a new report says.
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DOWNTOWN — Chicago has the 10th-highest rent in the country for one- and two-bedroom apartments in March, according to a new report.

That’s actually an improvement for renters: The city had the eighth-highest rent last month, according to a report on rent from Zumper. The median rent for a one-bedroom now stands at $1,730, a 7.5 percent decrease from this time last year and 4.4 percent decrease from last month.

Similarly, two-bedrooms in the city are cheaper, with the median rent hitting $2,280 this month, according to Zumper. That’s a 10.6 percent decrease from the same time last year and 5 percent decrease from last month.

Sep-16 National Rent Index

Zumper’s report looks at data from more than 1 million listings across the nation. The city with the highest median rent for one- and two-bedroom apartments is San Francisco, where renters are doling out $3,270 and $4,500 per month, respectively.

The lowest of the top 100 cities is Toledo, Ohio, where the median rent for a one-bedroom is $440 and a two-bedroom is $560.

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Source: DNA

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