Average Rent in Edgewater, Chicago, IL

Current Versus Historical Edgewater, Chicago, IL Rents

Edgewater rentals average $1,120 for a studio rental to $3,995 for a 4-bedroom rental. The median price of all currently available listings is $1,550, or roughly $2 per square feet.

For the apartment units and housing in April 2024, median rents have risen substantially over the last year. Studio rentals prices have increased by $87 (8.39%) year-over-year from $1,033 to $1,120. 1-bedroom rentals prices have increased by $166 (12.64%) year-over-year from $1,310 to $1,475. 2-bedroom rentals prices have increased by $386 (19.64%) year-over-year from $1,964 to $2,350. 3-bedroom rentals prices have decreased by $56 (-2.03%) year-over-year from $2,756 to $2,700. 4-bedroom rentals prices have increased by $250 (6.67%) year-over-year from $3,745 to $3,995. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone up by 0.15% this month. 1-bedroom rents have gone up by 3.51% this month. 2-bedroom rents have gone up by 0.48% this month. 3-bedroom rents have gone down by 7.88% this month. 4-bedroom rents have gone up by 8.51% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$2.87	$1,120	$1,033 (8.39%)	$1,050 (6.67%)
1 BR	$2.38	$1,475	$1,310 (12.64%)	$1,388 (6.24%)
2 BR	$2.27	$2,350	$1,964 (19.64%)	$1,715 (37.03%)
3 BR	$2.04	$2,700	$2,756 (-2.03%)	$2,511 (7.53%)
4+ BR	$1.86	$3,995	$3,745 (6.67%)	$2,839 (40.71%)

Historical Rents in Edgewater, Chicago, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Edgewater

There are a total of 6 cities nearby Edgewater. The average rent in Edgewater is currently $2,225 per month. Our records show that Evanston, IL, with an average rent of $1,955, is the most affordable city nearby. In contrast, the most expensive city near Edgewater, Chicago, IL is Naperville, IL. Monthly rents here are on average $2,850 per month.

Let's compare Edgewater, Chicago, IL's rent against other top cities nearby by bedroom size. One bedrooms are about 10.97% more affordable. Two bedrooms in Edgewater, Chicago, IL are about 2.27% more affordable. Finally, rent for three bedrooms are about 5.70% more affordable. Want more information? Check out the top 6 cities near Edgewater, Chicago, IL in the following chart.

City	Studio	1 Bed	2 Bed	All
Evanston, IL	$1,185	$1,650	$2,150	$1,955
Chicago, IL	$1,350	$1,790	$2,300	$2,035
Schaumburg, IL	N/A	$1,995	$2,350	$2,100
Wheaton, IL	N/A	$1,965	$2,350	$2,350
Aurora, IL	N/A	$1,300	$2,000	$2,373
Naperville, IL	N/A	$1,650	$2,200	$2,850

Top Neighborhoods Near Edgewater

There are a total of 12 neighborhoods in or near Edgewater. Some of these neighborhoods include Uptown, Rogers Park, and Ravenswood. We've included all of these top 12 neighborhoods in or near Edgewater, Chicago, IL in the following chart.

The average rent for these 12 neighborhoods in or near Edgewater, Chicago, IL is currently around $1,873 per month. Meaning, only twelve neighborhoods have a higher average rent than $1,873. Interestingly, the neighborhoods' average rent is higher than Edgewater's average rent, which is only $1,550. Out of all the neighborhoods in or near Edgewater, Uptown has the most affordable average rent at $1,600 per month. Whereas, at $2,800 average rent per month, South Loop is the most expensive neighborhood in or near Edgewater. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Uptown, Chicago, IL	$1,100	$1,600	$2,595	$1,600
Rogers Park, Chicago, IL	$1,125	$1,375	$1,850	$1,600
Ravenswood, Chicago, IL	$1,210	$1,595	$2,650	$1,648
West Rogers Park, Chicago, IL	$1,200	$1,350	$1,800	$1,698
Albany Park, Chicago, IL	$1,048	$1,420	$1,925	$1,800
Lincoln Park, Chicago, IL	$1,390	$1,875	$2,795	$1,850
Logan Square, Chicago, IL	$1,250	$1,795	$2,000	$1,895
Lakeview, Chicago, IL	$1,345	$1,895	$2,590	$2,095
Hyde Park, Chicago, IL	$1,250	$1,695	$1,887	$2,299
DePaul, Chicago, IL	$1,665	$2,290	$2,400	$2,395
Near North Side, Chicago, IL	$1,850	$2,399	$3,500	$2,583
South Loop, Chicago, IL	$1,575	$2,248	$3,000	$2,800

Top Counties Near Edgewater

There are a total of 12 counties located by Edgewater, Chicago, IL. Some of these counties include Evanston, IL, Chicago, IL, and Schaumburg, IL. The average rent for rentals in these counties is $2,141. That's roughly around $2 per sqft. The county that is the most affordable is Evanston, IL. It's average rent per month is $1,955. Vice versa, with an average rent of $2,700, Naperville, IL is the most expensive county by Edgewater, Chicago, IL.

In comparison, rent for one bedroom listings in Edgewater, Chicago, IL is 16.71% more affordable than other counties nearby. Finally, rent for two bedrooms in Edgewater, Chicago, IL is 2.27% more affordable than other counties nearby. We've listed the top 6 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Evanston, IL	$1,185	$1,650	$2,150	$1,955
Chicago, IL	$1,350	$1,790	$2,300	$2,035
Schaumburg, IL	N/A	$1,995	$2,350	$2,093
Downers Grove, IL	N/A	$1,828	$2,200	$2,188
Milton, IL	N/A	$1,965	$2,320	$2,350
Naperville, IL	N/A	$1,663	$2,200	$2,700

Top Zipcodes Near Edgewater

There are a total of 20 zipcodes in or near Edgewater, Chicago, IL. The average rent for all of these zipcodes is $2,030. A total of 3 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 60640, Chicago, IL at $1,550 per month. In comparison, the zipcode with the most expensive average rent of $2,725 per month is 60611, Chicago, IL.

Studios in these zipcodes have an average rent of $1,262. That's at least $3 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Edgewater, Chicago, IL is $1,773 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,394 per month. Which comes out to $2 per sqft. The following chart includes the top 10 zipcodes in Edgewater, Chicago, IL. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
60660, Chicago, IL	$1,120	$1,525	$1,973	$1,550
60640, Chicago, IL	$1,105	$1,595	$2,483	$1,550
60626, Chicago, IL	$1,150	$1,400	$1,850	$1,600
60645, Chicago, IL	$1,200	$1,350	$1,875	$1,800
60613, Chicago, IL	$1,298	$1,700	$2,550	$1,940
60625, Chicago, IL	$1,100	$1,495	$2,100	$1,650
60657, Chicago, IL	$1,345	$1,900	$2,625	$2,077
60618, Chicago, IL	$1,300	$1,488	$1,920	$1,950
60614, Chicago, IL	$1,658	$2,295	$2,873	$2,393
60647, Chicago, IL	$1,250	$1,845	$2,123	$2,000

Frequently Asked Questions - Edgewater Average Rents

What is the average rent price in Edgewater, Chicago, IL?

The average monthly rental price for Edgewater, Chicago, IL apartments for rent is approximately $1,550. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Edgewater, Chicago, IL rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Edgewater, Chicago, IL.

How much is a studio apartment in Edgewater, Chicago, IL?

The average monthly rental price for studio apartments is $1,120 and an average price per square feet of $2.87. There are a total of 41 studio apartment listings currently available for rent in Edgewater.

How much is a one bedroom apartment in Edgewater, Chicago, IL?

The average monthly rental price for one bedroom apartments is $1,550 and an average price per square feet of $2.38. There are a total of 60 one bedroom apartment listings currently available for rent in Edgewater.

How much is a two bedroom apartment in Edgewater, Chicago, IL?

The average monthly rental price for two bedroom apartments is $2,200 and an average price per square feet of $2.27. There are a total of 28 two bedroom apartment listings currently available for rent in Edgewater.

How have rent prices in Edgewater, Chicago, IL changed this year?

Rent prices for rentals in Edgewater, Chicago, IL can fluctuate yearly. Specifically, studio rental prices have changed by 0.08%, one bedroom rental prices have changed by 0.13%, two bedroom rental prices have changed by 0.20%, and three bedroom rental prices have changed by -0.02% year-over-year.

What is a reasonable rent price in Edgewater, Chicago, IL?

A reasonable rent price in Edgewater, Chicago, IL is around $1,240/month. You can search for these reasonably priced rental listings on RentHop.