Whether you’re new to the city or just switching neighborhoods, if you’re considering a move to Chicago’s Gold Coast, you’ll probably want to know about rental prices. Because the Gold Coast is such a prestigious neighborhood, set near some of the city’s finest attractions and landmarks, it’s highly in demand, and its prices tend to be higher than the city’s overall average.
When you’re looking at luxury apartment rentals in the Gold Coast, what can you expect to pay? What’s the average rent in Gold Coast, Chicago, and how does it compare to other neighborhoods in the area? If you’re interested in learning more about rent in Gold Coast, Chicago, here are a few principles to keep in mind.
When you’re looking at apartments to rent in the Gold Coast, you’ll see a wide price range — with rates that range anywhere from $1,300 to $6,000. Part of what accounts for that variation is the different amenities offered in each unit — amount of square footage, number of bedrooms, how updated the fixtures are, etc. Overall though, the costs will be higher than many other neighborhoods because of the Gold Coast’s unique features. This community offers a location just north of downtown; a strong reputation for affluence; and convenience to hot attractions such as museums, theaters, shopping and more. When you shop rentals in this location, it’s helpful to keep in mind that the Gold Coast is one of Chicago’s most affluent, luxurious areas available in the city.
Generally speaking, the Gold Coast average rent is a few hundred dollars higher than the city’s overall average of about $1,800. Compared to an affordable neighborhood such as Andersonville or Uptown — both of which have average prices around $1,000 — it’s a costlier option. It’s not the city’s most expensive neighborhood, though, as neighborhoods such as River North, River West, Streeterville, the Loop, Near East Side Chicago and Dearborn Park command averages close to $2,500, while the Gold Coast’s average is around $2,100.
Are you interested in learning more about rentals? Browse our current luxury apartment rentals in Chicago’s Gold Coast to see what’s available!