Set just north of Chicago’s Loop, River North puts residents in the heart of the city. Studios, galleries, restaurants, shopping, nightclubs, bars and you name it — it’s all here in this swanky district. That’s why it’s probably no surprise to learn that the rent in River North is on the higher side.
How much can you expect to spend if you find an apartment in this neighborhood? What’s the River North average rent, and how does that compare to other areas? If you’re thinking about finding a place to rent in River North, Chicago, here’s what you’ll want to know about costs.
Like any neighborhood, River North has different prices depending on apartment size, building type, street location, etc. That said, there are some ballpark numbers that can give you a good idea of costs. For a two-bedroom apartment in this part of the city, for example, the average rent is around $3,100 to $3,200. This decreases to a little over $2,000 for a one-bedroom apartment or $1,550 for a studio, but it also raises to an average of more than $4,000 for a three-bedroom.
River North’s not as expensive, on average, as Streeterville, that Near North Side community that borders the Magnificent Mile, Lake Michigan and the Chicago River.
While a two-bedroom rent averages to $3,000 in River North, it’s more like $3,500 in Streeterville. Compared to most other nearby Chicago neighborhoods, however — including Near North Side, Gold Coast, Old Town, Lincoln Park, East Village, West Loop and South Loop — River North tends to be more expensive. The average rent for a two-bedroom in Wicker Park, for example, rates around $2,500 and, in the Loop, more like $2,390.
While rent in River North, Chicago tends to be expensive, it’s not without reason. This area has a lot to offer in exchange for its costly rental price tags. Living here, you’ll be close to downtown, moments from trendy dining, surrounded by upscale galleries and shopping — all in the center of Chicago’s best attractions.
If you’re ready to find your home, explore our current listings for luxury apartment rentals in River North!