The West Loop is quickly becoming the hottest area in Chicago, with new restaurants, clubs, and retail shops opening up everywhere.
If you enjoy going out, prefer living within walking distance of bars, and have a penchant for trying new restaurants, renting an apartment in this neighborhood might appeal to you.
However, before making a decision, you should consider the rising rental prices. According to RentCafe.com, the average rent for an apartment in Fulton Market is now $3,261, up 3.96% from the previous year, when the average rent was $3,136.
RentCafe.com, a nationwide apartment search website, compiled data from Yardi Matrix and the U.S. Census Bureau to analyze rent prices, trends, and apartment sizes in Illinois. They found that rent in Fulton Market is 1% higher than the average rent in Chicago.
So, how much does it cost to rent in Fulton Market?
Studio apartments are the most budget-friendly option, costing $2,266 for 518 square feet, making them ideal for single renters who prioritize location over space.
One-bedroom apartments start at $2,970 and range from around 727 to 1,000 square feet, balancing privacy and affordability.
Two-bedroom units start at $4,189 for 1,115 square feet, which is ideal for roommates or small families.
Three-bedroom apartments deliver maximum space at 1,455 square feet and are suitable for larger households; however, you’re paying a significant sum of $6,226.