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 $0 for a 3-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 April 2024, median rents have risen substantially over the last year. Studio rentals prices have increased by $209 (15.59%) year-over-year from $1,341 to $1,550. 1-bedroom rentals prices have increased by $183 (12.09%) year-over-year from $1,512 to $1,695. 2-bedroom rentals prices have decreased by $49 (-2.29%) year-over-year from $2,149 to $2,100. 3-bedroom rentals prices have increased by $1,025 (32.54%) year-over-year from $3,150 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 4.17% this month. 1-bedroom rents have gone down by 0.00% this month. 2-bedroom rents have gone down by 28.92% this month. 3-bedroom rents have gone up by 7.28% this month. 4-bedroom rents have gone down by 0.00% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.21	$1,550	$1,341 (15.59%)	$1,207 (28.38%)
1 BR	$2.71	$1,695	$1,512 (12.09%)	$1,327 (27.70%)

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 6 cities nearby Margate Park. The average rent in Margate Park is currently $2,225 per month. Our records show that Evanston, IL, with an average rent of $1,975, 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 1.99% more affordable. Two bedrooms in Margate Park, Chicago, IL are about inf% more affordable. Finally, rent for three bedrooms are about inf% more affordable. Want more information? Check out the top 6 cities near Margate Park, Chicago, IL in the following chart.

City	Studio	1 Bed	2 Bed	All
Evanston, IL	$1,185	$1,668	$2,150	$1,975
Chicago, IL	$1,350	$1,790	$2,300	$2,038
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	$2,398
Naperville, IL	N/A	$1,650	$2,200	$2,800

Top Neighborhoods Near Margate Park

There are a total of 14 neighborhoods in or near Margate Park. Some of these neighborhoods include Edgewater, Rogers Park, and Uptown. We've included all of these top 14 neighborhoods in or near Margate Park, Chicago, IL in the following chart.

The average rent for these 14 neighborhoods in or near Margate Park, Chicago, IL is currently around $1,873 per month. A total of 4 neighborhoods have a lower average rent. Meaning, only ten neighborhoods have a higher average rent than $1,873. 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, Edgewater has the most affordable average rent at $1,550 per month. Whereas, at $2,800 average rent per month, South Loop is the most expensive neighborhood in or near Margate Park. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Edgewater, Chicago, IL	$1,120	$1,550	$2,200	$1,550
Rogers Park, Chicago, IL	$1,125	$1,375	$1,850	$1,600
Uptown, Chicago, IL	$1,100	$1,600	$2,535	$1,625
Ravenswood, Chicago, IL	$1,210	$1,595	$2,650	$1,648
West Rogers Park, Chicago, IL	$1,200	$1,350	$1,825	$1,700
Albany Park, Chicago, IL	$1,048	$1,420	$1,925	$1,813
Lincoln Park, Chicago, IL	$1,390	$1,863	$2,795	$1,850
Logan Square, Chicago, IL	$1,250	$1,795	$2,000	$1,895
Humboldt Park, Chicago, IL	$2,100	$1,775	$1,813	$1,975
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	$2,270	$2,400	$2,395
Near North Side, Chicago, IL	$1,850	$2,400	$3,530	$2,583
South Loop, Chicago, IL	$1,600	$2,248	$3,000	$2,800

Top Counties Near Margate Park

There are a total of 14 counties located by Margate Park, Chicago, IL. Some of these counties include Evanston, IL, Chicago, IL, and Schaumburg, IL. The average rent for rentals in these counties is $2,142. That's roughly around $2 per sqft. The county that is the most affordable is Evanston, IL. It's average rent per month is $1,975. Vice versa, with an average rent of $2,675, 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 6.73% more affordable than other counties nearby. Finally, rent for two bedrooms in Margate Park, Chicago, IL is inf% 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	$1,668	$2,150	$1,975
Chicago, IL	$1,350	$1,790	$2,300	$2,038
Schaumburg, IL	N/A	$1,995	$2,382	$2,095
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	$2,675

Top Zipcodes Near Margate Park

There are a total of 20 zipcodes in or near Margate Park, Chicago, IL. The average rent for all of these zipcodes is $2,035. A total of 5 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 $2,700 per month is 60642, 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 Margate Park, Chicago, IL is $1,761 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 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	$1,105	$1,595	$2,475	$1,550
60613, Chicago, IL	$1,298	$1,700	$2,550	$1,940
60660, Chicago, IL	$1,120	$1,525	$1,973	$1,550
60657, Chicago, IL	$1,345	$1,900	$2,625	$2,077
60626, Chicago, IL	$1,150	$1,400	$1,850	$1,600
60625, Chicago, IL	$1,100	$1,495	$2,100	$1,650
60618, Chicago, IL	$1,300	$1,488	$1,910	$2,000
60645, Chicago, IL	$1,200	$1,350	$1,900	$1,800
60614, Chicago, IL	$1,658	$2,390	$2,873	$2,395
60647, Chicago, IL	$1,250	$1,823	$2,148	$2,000

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 $3.21. There are a total of 5 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 22 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 $0 and an average price per square feet of $0.00. There are a total of 1 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 0.12%, two bedroom rental prices have changed by -0.02%, and three bedroom rental prices have changed by 0.33% 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.