{"id":142,"date":"2017-05-04T09:00:20","date_gmt":"2017-05-04T09:00:20","guid":{"rendered":"https:\/\/www.renthop.com\/content-manager\/?post_type=studies&#038;p=5821"},"modified":"2017-05-04T09:01:38","modified_gmt":"2017-05-04T13:01:38","slug":"chicago-l-train-rent-map","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/research\/chicago-l-train-rent-map\/","title":{"rendered":"Chicago Median Rent by L Train Stop 2017"},"content":{"rendered":"<h2><strong>Next Stop \u2013 Higher Rent Prices<\/strong><\/h2>\n<p>Chicago\u2019s CTA \u2018L\u2019 train system is an essential part of many Chicagoan\u2019s lives. With around <a href=\"http:\/\/www.transitchicago.com\/ridership\/\">800,000 riders each weekday<\/a>, it eases traffic congestion and improves the lives of every Chicagoan, even the ones that don\u2019t ride it. It should be no surprise then, that it is one of the first things that people consider when looking to rent an\u00a0apartment. Close proximity to the right trains means shorter commutes, saving money on transportation, and more time to spend doing what you love. Since RentHop\u2019s data scientists love maps and rental data,\u00a0<strong>they\u2019ve mapped out rental prices by subway stop to assist in your apartment hunting endeavors.<\/strong><\/p>\n<h3><strong>Brand New Buildings Drive Rents Higher<\/strong><\/h3>\n<ul>\n<li>The newly opened \u2018Vantage\u2019 building at <a href=\"https:\/\/www.renthop.com\/building\/chicago-il\/150-forest-avenue\">150 Forest Ave<\/a> adds hundreds of new Loop-priced luxury apartments in <strong>Oak Park<\/strong>, driving up the median price at the \u2018Harlem\/Lake\u2019 and \u2018Oak Park\u2019 &#8211; Green Line stops <strong>by around 15%<\/strong><\/li>\n<li>The \u2018NEXT\u2019 building at <a href=\"https:\/\/www.renthop.com\/building\/chicago\/347-west-chestnut-street\">347 W Chestnut St<\/a> has prices soaring in the <strong>Near North<\/strong> by\u00a0the Purple &amp; Brown Line &#8211; &#8216;Chicago Ave&#8217; stop\u00a0<strong>by over 11%<\/strong><\/li>\n<li>The new units at the \u2018Marquee at Block 37\u2019 building at <a href=\"https:\/\/www.renthop.com\/building\/chicago\/25-west-randolph-street\">25 W Randolph St<\/a> is contributing to a <strong>14.8% increase<\/strong> in asking rents in the <strong>North Loop<\/strong>, closest to the &#8216;Lake St&#8217; &#8211; Red Line station<\/li>\n<\/ul>\n<p><strong>You can use the interactive map to see the current one bedroom rent prices as well as how prices have changed since last year. <\/strong>You can also scroll down for an easy to share version of this map.<\/p>\n<h2><strong>The Interactive Map Below Shows Chicago Rents by \u2018L\u2019 Train Stop<\/strong><\/h2>\n<p><button onclick=\"embedPopup()\">Get the code to embed this map!<\/button><\/p>\n<div style=\"position: relative; overflow: hidden; max-width: 800px; width: 100%; margin-left: auto; margin-right: auto;\">\n<div style=\"padding-bottom: 67%; height: 0px; position: relative; width: 100%;\">\n<div style=\"position: absolute; height: 100%; width: 100%;\" align=\"center\"><iframe loading=\"lazy\" src=\"https:\/\/www.renthop.com\/study\/assets\/chicago-il-subway-rent-map\/chicago-subway-medians-map.html\" width=\"100%\" height=\"100%\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><br \/>\n<\/iframe><\/div>\n<\/div>\n<\/div>\n<p><script>\nfunction embedPopup() {\n    alert('<iframe loading=\"lazy\" src=\"https:\/\/www.renthop.com\/study\/assets\/chicago-il-subway-rent-map\/chicago-subway-medians-map.html\" width=\"100%\" height=\"555px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><\/iframe>');\n}\n<\/script><br \/>\nIn order to calculate the median rent for the map above, we used our RentHop rental data for one bedroom apartments from the first quarter of 2017 and GIS\u00a0data for subway stops from <a href=\"https:\/\/data.cityofchicago.org\/Transportation\/CTA-L-Rail-Stations-Shapefile\/vmyy-m9qj\/data\">data.cityofchicago.org<\/a>. To get accurate prices near the subway stops, we looked first at\u00a0<b>non-duplicated listings within one eighth of a mile (660 feet) of a subway stop<\/b>\u00a0and if there were\u00a0<b>at least 50 unique data points<\/b>\u00a0we calculated the median. If not, the radius from the subway stop was increased\u00a0and the data was resampled to ensure enough\u00a0unique\u00a0listings were used when calculating the median. One eighth of a mile was the most common distance used.<\/p>\n<h2><strong>Where Does the Train of Rising Rents Stop?<\/strong><\/h2>\n<p>This year, we\u2019ve seen a variety of rising and dropping prices across the city, with a majority of stops seeing increases. The increases can be chalked up to the widespread new development lately, with luxury units popping up in Oak Park, The Near North side, and in The Loop. <strong>Rent prices are up on <a href=\"https:\/\/www.renthop.com\/chicago-il\/pilsen-apartments\">Pilsen apartments<\/a> and <a href=\"https:\/\/www.renthop.com\/chicago-il\/woodlawn-apartments\">Woodlawn apartments<\/a> as well<\/strong>, with prices being much cheaper than those closer to the schools UIC and UofC, respectively.<\/p>\n<p>Many parts of the city have seen rents stabilize or drop,<strong> like in the West Loop and much of the Near West Side<\/strong>. Longtime luxury areas are softening a little as new units flood the market, meaning there are some good deals for savvy shoppers. <i>Below, we\u2019ve compiled a list of the stops with the largest price pops and drops between Quarter 1 2016 and Quarter 1 2017<\/i>.<\/p>\n<h3><strong>These L stops saw the biggest rent pops on one bedroom apartments<\/strong><\/h3>\n<ul>\n<li><strong>Green Line \u2013<\/strong>\u00a0Harlem\/Lake\u00a0<strong>\u2013 (+15.3%)<\/strong>\u00a0$1,524<\/li>\n<li><strong>Red Line \u2013\u00a0<\/strong>Lake St\u00a0<strong>\u2013 (-14.8%)<\/strong>\u00a0$2,225<\/li>\n<li><strong>Green Line \u2013<\/strong> Oak Park <strong>\u2013 (+14.4%)<\/strong>\u00a0$1,545<\/li>\n<li><strong>Green Line\u00a0\u2013<\/strong> Cottage Grove <strong>\u2013 (+11.5%)<\/strong>\u00a0$1,254<\/li>\n<li><strong>Purple &amp; Brown Line \u2013<\/strong>\u00a0Chicago Ave\u00a0<strong>\u2013 (+11.1%)<\/strong>\u00a0$2,150<\/li>\n<li><strong>Pink Line \u2013<\/strong>\u00a018<sup>th<\/sup>\u00a0St\u00a0<strong>\u2013 (+9.2%)<\/strong>\u00a0$1,269.50<\/li>\n<\/ul>\n<h3><strong>These L<\/strong><strong> stops saw <\/strong><strong>dropping rents<\/strong><\/h3>\n<ul>\n<li><strong>Pink Line \u2013<\/strong>\u00a0Polk\u00a0<strong>\u2013 (-8.6%)<\/strong>\u00a0$1,787<\/li>\n<li><strong>Blue Line \u2013<\/strong>\u00a0Illinois Medical District\u00a0<strong>\u2013 (-8.5%)<\/strong>\u00a0$1,785<\/li>\n<li><strong>Brown, Orange, Purple, Pink Line \u2013<\/strong>\u00a0Washington\/Wells\u00a0<strong>\u2013\u00a0(-7.9%)<\/strong>\u00a0$2,265<\/li>\n<li><strong>Blue Line \u2013<\/strong>\u00a0Clinton\u00a0<strong>\u2013\u00a0(-7.9%)<\/strong>\u00a0$2,090<\/li>\n<li><strong>Brown, Green, Orange, Pink, Purple Line \u2013<\/strong>\u00a0Randolph\/Wabash\u00a0<strong>\u2013 (-7.7%)<\/strong>\u00a0$2,125<\/li>\n<\/ul>\n<h2>\u00a0Time or Money?<\/h2>\n<p>Would you travel a few extra stops to save some extra dough?\u00a0<i>How about for $500?<\/i>\u00a0We scanned the map for the best single stop rent savings and found some really surprising results.<\/p>\n<p>The list below represents the largest price disparities between a single stop. This could be because they are on the edge of a business development district, rents dropped at one stop, prices soared at the other, both, or all of the above. It\u2019s also possible that the typical one-bedroom apartment near one stop is very different from an apartment a stop away.\u00a0Some stops are also considerably further apart, such as between Ashland and California Avenues on the Green Line.<\/p>\n<h3><strong>Turn your commute into extra cash at these stops<\/strong><\/h3>\n<ul>\n<li><strong>Save $926<\/strong>\u00a0on the long stretch from Ashland Ave ($2,051) to\u00a0<strong>California Ave<\/strong>\u00a0($1,125) \u2013 Green line<\/li>\n<li><strong>Save $755<\/strong>\u00a0by hiking past Cermak-Chinatown ($1,794) to\u00a0<strong>Sox-35<sup>th<\/sup><\/strong><strong>\u00a0<\/strong><strong>St<\/strong>\u00a0($1,039) \u2013 Red Line<\/li>\n<li><strong>Save $517<\/strong>\u00a0between Polk\u00a0St ($1,787) and\u00a0<strong>18<sup>th<\/sup><\/strong><strong>\u00a0<\/strong><strong>St<\/strong>\u00a0($1,270) \u2013 Pink Line<\/li>\n<li><strong>Save $390<\/strong>\u00a0between Ill. Medical Ctr. ($1,785) and\u00a0<strong>Western<\/strong><strong>\u00a0Ave<\/strong>\u00a0($1,395) \u2013 Blue Line (Forest Park)<\/li>\n<li><strong>Save $366<\/strong>\u00a0between Grand\u00a0Ave ($2,275) and\u00a0<strong>Chicago<\/strong><strong>\u00a0Ave<\/strong>\u00a0($1,906) \u2013 Red line<\/li>\n<li><strong>Save $312<\/strong>\u00a0between Division St ($1,890) and\u00a0<strong>Damen Ave<\/strong>\u00a0($1,578) \u2013 Blue Line (O\u2019Hare)<\/li>\n<\/ul>\n<h2>There&#8217;s a Condensed Map for Easy Sharing<\/h2>\n<figure id=\"attachment_5842\" aria-describedby=\"caption-attachment-5842\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2017\/05\/chi_l_train_median_map_2017_chopped.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-5842\" title=\"Chicago 2017 L Train Rent Map\" src=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2017\/05\/chi_l_train_median_map_2017_chopped-1024x1024.jpg\" alt=\"\" width=\"800\" height=\"800\" \/><\/a><figcaption id=\"caption-attachment-5842\" class=\"wp-caption-text\">Click For High Resolution<\/figcaption><\/figure>\n<h2>What Does This All Mean For You?<\/h2>\n<p>Finding an apartment in Chicago is hard. Deciding\u00a0where to live and starting your search is probably the most difficult step. By giving you as much information about the market as possible, RentHop hopes to point you in the right direction. This map is just one of the data-backed insights we offer. All of our Chicago apartment listings are ranked using available data to ensure that renters always see the best quality apartments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Next Stop \u2013 Higher Rent Prices Chicago\u2019s CTA \u2018L\u2019 train system is an essential part of many Chicagoan\u2019s lives. With around 800,000 riders each weekday, it eases traffic congestion and improves the lives of every Chicagoan, even the ones that don\u2019t ride it. It should be no surprise then, that it is one of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":143,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"yes","_lmt_disable":"","footnotes":""},"categories":[4],"tags":[],"class_list":["post-142","post","type-post","status-publish","format-standard","has-post-thumbnail","category-market-insights"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.1 (Yoast SEO v28.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Chicago Median Rent by L Train Stop 2017 - Real Estate Data &amp; Research<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.renthop.com\/research\/chicago-l-train-rent-map\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chicago Median Rent by L Train Stop 2017\" \/>\n<meta property=\"og:description\" content=\"Next Stop \u2013 Higher Rent Prices Chicago\u2019s CTA \u2018L\u2019 train system is an essential part of many Chicagoan\u2019s lives. With around 800,000 riders each weekday, it eases traffic congestion and improves the lives of every Chicagoan, even the ones that don\u2019t ride it. 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