Apartments in Old Town Chicago

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$1,425
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$3,750
Chicago, IL
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$2,490
Chicago, IL
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$3,750
Chicago, IL
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$3,750
Chicago, IL
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$3,345
Chicago, IL
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$2,095
Chicago, IL
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$3,925
Chicago, IL
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$1,450 - 1,685
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$2,295
Chicago, IL
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$2,100
Chicago, IL
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22
$3,800
Chicago, IL
2 BR | Nov. 23, 2024
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11
$2,170
Chicago, IL
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Old Town
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$2,150
Chicago, IL
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$2,050
Chicago, IL
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$1,395
Chicago, IL
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$1,550
Chicago, IL
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$1,695
Chicago, IL
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$1,525
Chicago, IL
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$2,195
1400 N State Parkway #16 Pkwy Chicago, IL
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$1,360 - 1,429
303 Division Street W. Chicago, IL
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$1,995
1636 N Wls Unit A4003 Chicago, IL
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228
$2,174 - 6,372
Chicago, IL
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$2,019 - 6,087
1140 N. Wells Street Chicago, IL
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$1,810 - 3,129
Chicago, IL
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$2,395
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$2,450
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Old Town Neighborhood Summary

Thriving Nightlife Paired with Eclectic Shops and Restaurants in Chicago’s Old Town

The area referred to as Old Town was home to many Native American Nations including members of the Illinois, Miami and Potawatomi. After the 1833 Treaty of Chicago most indigenous peoples were forcibly removed. The land was then settled by German Catholic immigrants. Although there is no legal entity called Old Town, the people who live there regard the northern border as North Avenue and the neighborhood continues south to Division Street. The East edge is LaSalle Street and heads west to Halsted. Old Town has many historic buildings, including St. Michael’s Church, one of only seven buildings to survive the Great Chicago Fire. In 1924 Henry Gerber established the first gay-rights group, the Society for Human Rights, and his home has since been designated as both a Chicago Landmark and a National Historic Landmark. The 1950s saw an influx of Puerto Ricans that emigrated to Chicago. In the 60s and 70s Old Town became a center for folk musicians. The Old Town School of Folk Music was located on North Avenue until its move to Armitage Street in 1968.

Who Lives There

The total population of Old Town is 39,019 and the median age is 33.6 years. A whopping 89.5% of households have no children and the median income is $86,803. Only 29% of Old Town’s residents have bachelor’s degrees and 12.43% have only some high schooling. An average 620 square foot apartment hovers around $2,000 and a three-bedroom, 1330 square foot place, will cost you just under $6,000.

Places of Interest

Today the Old Town Triangle Art Center is a cultural hub and the annual Old Town Art Fair attracts people from all over the area. There is considerable diversity in the eclectic shops of Old Town as they sell items from spices to wines. Second City, a comedy/improv club made famous by performers like Bill Murray, John Belushi, Stephen Colbert and Tina Fey, is still in Old Town. At the corner of North and Wells since 1967 they have expanded to include a mainstage, theater, small theaters for student shows as well as a training facility and film school. Zanies is another popular comedy club.

Chicago:
November Rent Report

Welcome to the November 2024 Chicago Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the November 2024 key findings and figures for the Chicago rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Chicago and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Chicago average rent prices in the chart below.

Monthly Rent Report

$2,350
$1,760
$1,180
$590
$0
Dec. 2023
Jan. 2024
Feb. 2024
Mar. 2024
Apr. 2024
May. 2024
Jun. 2024
Jul. 2024
Aug. 2024
Sep. 2024
Oct. 2024
Nov. 2024
1 BR       2 BR

Chicago Rent Prices Increase From October to November

Chicago rent prices increased over the last month. From October to November, the city experienced a 0.9% increase for the price of a one-bedroom apartment. The rent price for a Chicago one-bedroom apartments currently stands at $1,903.0.

When we take a look at the two-bedroom comparison from October to November, Chicago experienced a 0.19% increase for the price of a two-bedroom apartment. The rent price for a Chicago two-bedroom apartments currently stands at $2,139.0.

November Prices: Chicago vs. Surrounding Areas

Schaumburg, IL
Des Plaines, IL
Chicago, IL
Evanston, IL
Downers Grove, IL
Naperville, IL
Arlington Heights, IL
Oak Park, IL
$2,035
$1,935
$1,886
$1,785
$1,568
$1,420
$1,377
$1,341
$0
$700
$1,400
$2,100
$2,800
Median 1 BR Rent

Rent Prices in Chicago and Surrounding Areas

Rent prices have increased in Chicago over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 4 of the Chicago suburbs increased last month. On the other hand, 3 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Oak Park, IL, Evanston, IL, Schaumburg, IL, Des Plaines, IL .

  • Rent decreased in Naperville, IL, Arlington Heights, IL, Downers Grove, IL.

  • 2 suburbs are currently priced higher than the city of Chicago.

  • 5 suburbs are currently priced lower than the city of Chicago.

November 2024 Pricing Trends: Chicago vs. National Comparisons

New York, NY
San Francisco, CA
Los Angeles, CA
Washington, DC
Chicago, IL
Columbus, OH
Minneapolis, MN
Pittsburgh, PA
$4,211
$3,115
$2,373
$2,354
$1,903
$1,338
$1,246
$1,202
$0
$1,400
$2,800
$4,200
$5,600
Median Rent

Chicago Rent Prices More Affordable Than Major Cities

Rent growth in Chicago over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Chicago average rent prices appear to be relatively affordable for local residents.

The price for a Chicago one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Chicago and surrounding area rent prices, take a look at the complete data set below.

Data set for Chicago and suburbs

1 BR November 1 BR M/M % Change 2 BR November 2 BR M/M % Change
Chicago, IL $1,886.0 1.29% $2,135.0 0.95%
Oak Park, IL $1,341.0 1.13% $2,010.0 7.83%
Evanston, IL $1,785.0 1.36% $2,270.0 3.70%
Naperville, IL $1,420.0 -1.11% $1,832.0 0.77%
Arlington Heights, IL $1,377.0 -1.08% $1,935.0 1.95%
Schaumburg, IL $2,035.0 0.94% $2,488.0 2.26%
Des Plaines, IL $1,935.0 0.62% $2,365.0 1.98%
Downers Grove, IL $1,568.0 -0.89% $1,790.0 0.85%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.