Farm-to-Table Feeling with a Community Vibe in Chicago’s Logan Square
Geographically bound by the Metra/Milwaukee District North Line railroad to the west, North Branch of the Chicago River to the east, Diversey Parkway to the north and Bloomingdale Avenue on the south, Logan Square has multiple historic boulevards. The area is named for the American soldier and politician General John A. Logan. Logan Square was annexed into the City of Chicago in 1889 and many of its early residents were English, Scandinavian, Polish and Jewish.
Aside from the gorgeous boulevards there are an amazing number of restaurants, bars, bookshops and galleries, and more shopping than you can do in a day. Some of the favorite spots of Logan Square residents are Lula Café, Fleur, Cozy Lit Books, Parson’s Chicken and Fish, Beauty and Brawn Art Gallery, Comfort Station and Gallerie F. You’ll find amazing gluten free dining at Café Con Leche, Brown Sack and L’Patron.
If you're not sure how much an apartment will cost, the table below shows the average price by size.
In Logan Square you can expect to pay around $900 per month for a 457 square foot studio apartment, $1100 per month for a two-bedroom and $1600 per month for a 1350 square foot three-bedroom apartment. The total population is 73,470 and the median age is 31 years old. 47% of households have children under the age of 18 and the median income is around $75,000. 16.92% of the population have a bachelor’s degree.
Welcome to the October 2020 Chicago Apartment Report. In this assessment of the local rental market, ABODO data scientists and rental experts break down the October 2020 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 rent prices in the chart below.
Chicago rent prices decreased over the last month. From September to October, the city experienced a -1.34% decrease for the price of a one-bedroom apartment. The rent price for a Chicago one-bedroom apartments currently stands at $1,697.0.
When we take a look at the two-bedroom comparison from September to October, Chicago experienced a -0.3% decrease for the price of a two-bedroom apartment. The rent price for a Chicago two-bedroom apartments currently stands at $1,979.0.
Rent prices have decreased 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 3 of the Chicago suburbs increased last month. On the other hand, 3 local areas experienced a decrease in the price of a one-bedroom apartment.
More key findings include:
Rent increased in Naperville, IL, Hoffman Estates, IL, Schaumburg, IL .
Rent decreased in Oak Park, IL, Evanston, IL, Lombard, 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 declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Chicago 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 ABODO's October 2020 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 October||1 BR M/M % Change||2 BR October||2 BR M/M % Change|
|Oak Park, IL||$1,101.0||-0.27%||$1,609.0||0.63%|
|Hoffman Estates, IL||$1,340.0||0.75%||$1,555.0||0.65%|
Each month, using over 1 million ABODO 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.