Rentals in Chicago>Question Details

Chris, Other/Just Looking in Chicago, IL

these rents are outrageous for the home & neighborhood.

Asked by Chris, Chicago, IL Fri Feb 15, 2013

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Welcome to the big city. Yes, rents are at an all-time high in Chicago. Without knowing exactly which home and what neighborhood you're talking about, we can't comment on this specific situation, but for the most part, list prices of rentals are in line with the market. What's out of whack are the unrealistic expectations of renters who move here from a smaller area or people who haven't moved in a while. Our rentals have never been as high as NY, LA, Boston, San Francisco, Washington DC and other major markets. It's not surprising that they've caught up here when the condo market stalled. If you don't like the pricing, move to another part of the Chicago area where there are less expensive options.
1 vote Thank Flag Link Sat Feb 16, 2013
Is there a question in there?
0 votes Thank Flag Link Sun Feb 17, 2013
Supply and Demand - As long as someone is willing to pay what the landlord is asking for, then that is the market rent.
0 votes Thank Flag Link Sat Feb 16, 2013
Why are they outrageous if tenants are willing to pay them? If/when tenants choose not to pay them, they will come down. That is how it works.
0 votes Thank Flag Link Sat Feb 16, 2013
Joe nails it, Matt is in LaLa land on this one.
0 votes Thank Flag Link Fri Feb 15, 2013
and going higher ,, NYC rates are here to stay,,and go up ..
0 votes Thank Flag Link Fri Feb 15, 2013
Rents are at a high. They will be coming down in the next few years though with the market coming back strong.
0 votes Thank Flag Link Fri Feb 15, 2013
Chris, you have to give us more detail. There is no address, property details or rent(s) in your post.
0 votes Thank Flag Link Fri Feb 15, 2013
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