Domu.com's Median Apartment Rental Prices Not Surprising

By Chuck Sudo in News on Aug 5, 2011 4:20PM

Online apartment rental broker Domu.com shared what they call their "top secret apartment data" and released their median rental prices for fifteen popular Chicago neighborhoods. Timed to coincide with the September/October rental season - traditionally one of the busier times of the year for new rentals - "what it says about the Chicago rental market just may surprise you," they write.

It may, if you live in a bubble. If you're a renter looking for a two-bedroom in Edgewater and wondering why a landlord thinks he can get away with charging $1850 a month for something you wouldn't expose a pet to, you understand that you're paying for location and, the closer you get to downtown, the higher the rent.

Domu's best median values are for three-bedrooms in Logan Square, the average of which is only slightly higher than that of two-bedroom apartments in the same neighborhood. If we were of an age where we could still tolerate roommates, we'd be all over a three-bedroom pad there.