You don’t have to be an architecture buff to appreciate the historic buildings and quaint streets of Chicago’s Old Town. This charming neighborhood on the city’s North Side is filled with Victorian-era homes and buildings — not to mention plenty of eateries, coffee shops, boutiques, pubs and attractions. Locals love living in Old Town because of its many parks and green spaces, abundant shopping and dining options, and walkability. If you’re thinking about making Old Town your home, an important question is cost.
What’s the Old Town average rent? Does the cost make sense for you? To help answer these questions, here’s a look at rent in Old Town — and how that compares to the rest of Chicago.
If you want to move to Old Town, expect to spend an average of $1,975 per month on rent. This varies, of course, building to building. Likewise, prices change based on apartment size and amenities. For studios, the average is significantly lower — around $1,400 per month. One-bedrooms rent for approximately $2,000 per month. Look for a larger place, however, and you’ll see rates climb. Two bedrooms are closer to $3,000 per month, and three-bedrooms run a little more than $4,800.
Rentals in Old Town are comparable to the rest of the city as a whole. More specifically, the neighborhood’s average is only 9 percent higher than Chicago’s median rental rate, which puts it somewhere in the middle of typical costs. Old Town rental rates are 18 percent lower than what you’d find in the Loop, for example. At the same time, they’re about 14 percent higher than costs in nearby Lincoln Park.
When it comes to the combination of historic charm and city conveniences, it’s hard to beat the appeal of Old Town. Can you picture yourself living here? If so, check out our listings for luxury apartment rentals in Old Town to see what’s available now!