I’ve been in the market for rental apartments and homes at various points in my life. I’ve lived in everything from studio apartments to five-bedroom houses. I’ve never felt like I’ve overpaid or left feeling ‘stuck’ in a lease that I couldn’t wait to finish. I feel like I’m a bit of a pro at finding the right rental property at this point.
The first step in researching which rental property is right for you is to set a budget. I know budgets can be thrown out the window when you start looking at properties, so it’s important to try to stick to a comfortable price range.
Let’s say that you’re a single guy who is in the market for a one-bedroom apartment. According to Zumper, the average rent for Chicago is $1,425. This is a 3% decrease from last year. Of course is depends which neighborhood you’re looking at, but that’s a fair average price to live within the Loop.