Average Rent in Margate Park, Chicago, IL

Current Versus Historical Margate Park, Chicago, IL Rents

Margate Park rentals average $1,550 for a studio rental to $2,110 for a 2-bedroom rental. The median price of all currently available listings is $1,695, or roughly $3 per square feet.

For the apartment units and housing in May 2024, median rents have risen substantially over the last year. Studio rentals prices have increased by $208 (16.40%) year-over-year from $1,265 to $1,473. 1-bedroom rentals prices have increased by $172 (11.29%) year-over-year from $1,523 to $1,695. 2-bedroom rentals prices have decreased by $9 (-0.40%) year-over-year from $2,109 to $2,100. 3-bedroom rentals prices have increased by $1,125 (36.89%) year-over-year from $3,050 to $4,175. 4-bedroom rentals prices have increased by $0 (0.00%) year-over-year from $4,500 to $4,500. 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 0.30% this month. 1-bedroom rents have gone up by 2.97% this month. 2-bedroom rents have gone down by 12.05% this month. 3-bedroom rents have gone up by 3.51% this month. 4-bedroom rents have gone down by 0.00% this month.

Beds	Price / Sqft	May 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.88	$1,473	$1,265 (16.40%)	$1,143 (28.83%)
1 BR	$2.71	$1,695	$1,523 (11.29%)	$1,333 (27.13%)
2 BR	$2.07	$2,100	$2,109 (-0.40%)	$1,900 (10.52%)

Historical Rents in Margate Park, Chicago, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Margate Park

There are a total of 5 cities nearby Margate Park. The average rent in Margate Park is currently $2,257 per month. Our records show that Chicago, IL, with an average rent of $2,195, is the most affordable city nearby. In contrast, the most expensive city near Margate Park, Chicago, IL is Naperville, IL. Monthly rents here are on average $2,800 per month.

Let's compare Margate Park, Chicago, IL's rent against other top cities nearby by bedroom size. One bedrooms are about 8.85% more affordable. Two bedrooms in Margate Park, Chicago, IL are about 9.48% more affordable. Finally, rent for three bedrooms are about inf% more affordable. Want more information? Check out the top 5 cities near Margate Park, Chicago, IL in the following chart.

City	Studio	1 Bed	2 Bed	All
Chicago, IL	$1,350	$1,845	$2,400	$2,195
Schaumburg, IL	N/A	$1,995	$2,459	$2,195
Wheaton, IL	N/A	$1,923	$2,310	$2,257
Aurora, IL	N/A	$1,300	$2,100	$2,298
Naperville, IL	N/A	$1,663	$2,250	$2,800

Top Neighborhoods Near Margate Park

There are a total of 9 neighborhoods in or near Margate Park. Some of these neighborhoods include Rogers Park, Uptown, and Ravenswood. We've included all of these top 9 neighborhoods in or near Margate Park, Chicago, IL in the following chart.

The average rent for these 9 neighborhoods in or near Margate Park, Chicago, IL is currently around $2,100 per month. A total of 2 neighborhoods have a lower average rent. Meaning, only seven neighborhoods have a higher average rent than $2,100. Interestingly, the neighborhoods' average rent is higher than Margate Park's average rent, which is only $1,695. Out of all the neighborhoods in or near Margate Park, Rogers Park has the most affordable average rent at $1,550 per month. Whereas, at $3,225 average rent per month, Near North Side is the most expensive neighborhood in or near Margate Park. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Rogers Park, Chicago, IL	$1,075	$1,300	$1,795	$1,550
Uptown, Chicago, IL	$1,200	$1,695	$2,600	$1,695
Ravenswood, Chicago, IL	$1,220	$1,625	$2,948	$1,845
Lakeview, Chicago, IL	$1,495	$1,923	$2,750	$2,100
Logan Square, Chicago, IL	$1,150	$1,950	$2,050	$2,100
Hyde Park, Chicago, IL	$1,275	$1,650	$1,875	$2,267
The Loop, Chicago, IL	$1,825	$2,500	$3,200	$2,700
South Loop, Chicago, IL	N/A	$2,200	$3,000	$2,800
Near North Side, Chicago, IL	$1,750	$2,450	$3,692	$3,225

Top Counties Near Margate Park

There are a total of 9 counties located by Margate Park, Chicago, IL. Some of these counties include Chicago, IL, Schaumburg, IL, and Downers Grove, IL. The average rent for rentals in these counties is $2,200. That's roughly around $2 per sqft. The county that is the most affordable is Chicago, IL. It's average rent per month is $2,195. Vice versa, with an average rent of $2,650, Naperville, IL is the most expensive county by Margate Park, Chicago, IL.

In comparison, rent for one bedroom listings in Margate Park, Chicago, IL is 8.85% more affordable than other counties nearby. Finally, rent for two bedrooms in Margate Park, Chicago, IL is 9.00% more affordable than other counties nearby. We've listed the top 5 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Chicago, IL	$1,350	$1,845	$2,400	$2,195
Schaumburg, IL	N/A	$1,995	$2,464	$2,198
Downers Grove, IL	N/A	$1,830	$2,218	$2,200
Milton, IL	N/A	$1,900	$2,300	$2,257
Naperville, IL	N/A	$1,663	$2,195	$2,650

Top Zipcodes Near Margate Park

There are a total of 18 zipcodes in or near Margate Park, Chicago, IL. The average rent for all of these zipcodes is $2,200. A total of 2 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 60626, Chicago, IL at $1,518 per month. In comparison, the zipcode with the most expensive average rent of $3,500 per month is 60611, Chicago, IL.

Studios in these zipcodes have an average rent of $1,225. 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 Margate Park, Chicago, IL is $1,951 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,521 per month. Which comes out to $2 per sqft. The following chart includes the top 10 zipcodes in Margate Park, Chicago, IL. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
60640, Chicago, IL	$1,325	$1,695	$2,400	$1,695
60613, Chicago, IL	$1,450	$1,795	$2,593	$2,200
60657, Chicago, IL	$1,495	$1,898	$2,800	$2,095
60626, Chicago, IL	$1,075	$1,300	$1,790	$1,518
60625, Chicago, IL	$1,100	$1,550	$2,175	$1,700
60618, Chicago, IL	$1,200	$1,675	$1,950	$2,150
60614, Chicago, IL	$1,525	$2,295	$3,295	$2,545
60647, Chicago, IL	$1,150	$1,950	$2,225	$2,200
60642, Chicago, IL	$1,929	$2,350	$2,650	$2,645
60610, Chicago, IL	$1,713	$2,233	$3,600	$3,000

Frequently Asked Questions - Margate Park Average Rents

What is the average rent price in Margate Park, Chicago, IL?

The average monthly rental price for Margate Park, Chicago, IL apartments for rent is approximately $1,695. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Margate Park, 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 Margate Park, Chicago, IL.

How much is a studio apartment in Margate Park, Chicago, IL?

The average monthly rental price for studio apartments is $1,550 and an average price per square feet of $3.88. There are a total of 3 studio apartment listings currently available for rent in Margate Park.

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

The average monthly rental price for one bedroom apartments is $1,695 and an average price per square feet of $2.71. There are a total of 17 one bedroom apartment listings currently available for rent in Margate Park.

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

The average monthly rental price for two bedroom apartments is $2,110 and an average price per square feet of $2.07. There are a total of 2 two bedroom apartment listings currently available for rent in Margate Park.

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

Rent prices for rentals in Margate Park, Chicago, IL can fluctuate yearly. Specifically, studio rental prices have changed by 0.16%, one bedroom rental prices have changed by 0.11%, two bedroom rental prices have changed by 0.00%, and three bedroom rental prices have changed by 0.37% year-over-year.

What is a reasonable rent price in Margate Park, Chicago, IL?

A reasonable rent price in Margate Park, Chicago, IL is around $1,356/month. You can search for these reasonably priced rental listings on RentHop.