Brownstone Homes Paired Cathedrals and Arts in Chicago’s Ukranian Village
Ukrainian Village is located just northwest of the Chicago Loop. Bounded by Division Street north, Chicago Avenue south, Western Avenue west, and Damen Avenue to the east, Ukrainian Village is sometimes considered a part of West Town. First settled by Slovakian and Polish immigrants, the area still retains its Ukrainian roots and vibe. Even as early as the 1930s there were numerous Ukrainian Catholic parishes in the area, the most famous being St. Nicholas Cathedral. The village is abundantly green in the summertime adding a peaceful lushness to the otherwise bustling areas in nearby West Town. You will find a great sidewalk sale here during the warm summer months, and that sale encompasses a large 10 city block area.
Rents are moderate, and as of April 2020, a studio apartment was priced around $1690. One-bedroom units were priced slightly higher, and two and three-bedroom units would set you back from $1850 to $2275 monthly. The total Ukrainian Village population is near 53,000 with males slightly outnumbering females by a couple thousand. The median age is a young 31.7 and U.S born citizens account for 82% of the population. There are over 23,000 households with an average of two people. 9,436 are families and 13,974 are not. There are 4,575 households that do not have children.
Chicago Avenue is the place to go for dining, entertainment and shopping. While you wouldn’t think that an area called Ukrainian Village would have great Italian food, you should really check out the Italian offerings from places like Roots Handmade Pizza. Of course, you’ll find old-world treats at Old Lviv and Kasia’s Deli. If bread and pastries are your thing, you have to go to Ann’s Bakery and Deli. Remember, if you’re a pierogi fan, you’re in the right place!
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.
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.
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.
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.
|1 BR May||1 BR M/M % Change||2 BR May||2 BR M/M % Change|
|Oak Park, IL||$1,105.0||0.46%||$1,519.0||3.33%|
|Arlington Heights, IL||$1,325.0||0.38%||$1,597.0||1.14%|
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.