Apartments in Austin Chicago

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Austin

A Chicago Neighborhood

Summary

Austin is the most populated community in Chicago, and has plenty of restaurants to cater to the 98,000 residents - around 100. A few of the top rated are good to know. MacArthur’s is the best for southern style soul food, as G&N Breakfast and Brunch is for breakfast and of course brunch. G&N is open late, usually until 2 or 3 am, and serves breakfast exclusively. Depot American Diner is an old time diner, complete with burgers, shakes, and homemade macaroni and cheese. Of course in Chicago pizza is important, and Don’s Pizza and Grill is the number one spot for the famous deep dish style. The westside of Chicago, including Austin, boasts a different variety of cuisine than other areas of the city; unique and numerous.

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Budget

If you're not sure how much an apartment will cost, the table below shows the average price by size.

$1,094
Studio
$1,285
1 Bedroom
$1,556
2 Bedrooms
$1,963
3 Bedrooms
$2,380
4 Bedrooms
$2,411
5+ Bedrooms
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Chicago:
May Rent Report

Welcome to the May 2022 Chicago Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 2022 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

Chicago Rent Prices Increase From April to May

Chicago rent prices increased over the last month. From April to May, the city experienced a 3.65% increase for the price of a one-bedroom apartment. The rent price for a Chicago one-bedroom apartments currently stands at $1,619.0.

When we take a look at the two-bedroom comparison from April to May, Chicago experienced a 3.46% increase for the price of a two-bedroom apartment. The rent price for a Chicago two-bedroom apartments currently stands at $1,942.0.

May Prices: Chicago vs. Surrounding Areas

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, 2 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, Naperville, IL, Arlington Heights, IL .

  • Rent decreased in Lombard, IL, Warrenville, IL.

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

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

May 2022 Pricing Trends: Chicago vs. National Comparisons

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.

You can view the full rundown of Rentable's May 2022 National Apartment Report and data set here.

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 May 1 BR M/M % Change 2 BR May 2 BR M/M % Change
Chicago, IL $1,562.0 2.29% $1,877.0 2.46%
Oak Park, IL $1,105.0 0.46% $1,519.0 3.33%
Evanston, IL $1,393.0 3.11% $1,502.0 -0.66%
Lombard, IL $1,718.0 0.00% $2,467.0 2.32%
Naperville, IL $1,447.0 1.12% $1,823.0 0.39%
Warrenville, IL $2,419.0 0.00% $3,522.0 0.00%
Arlington Heights, IL $1,325.0 0.38% $1,597.0 1.14%

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.