Zip codes with the fastest growing rent in Chicago

Written by:
March 24, 2021
realtor.com

Zip codes with the fastest growing rent in Chicago

Since the start of the 21st century and prior to the coronavirus pandemic, the cost of rent has skyrocketed across America. Every state in the nation saw a spike in the cost of apartments and other residential rentals. Places like Washington D.C., California, and Hawaii have seen rent prices more than double over the past two decades.

While the reasons for rent hikes may vary by locality, one of the major factors for higher costs is the overall decline in homeownership, which hit a peak of 66% in 2000. That, in turn, has led to more Americans turning to rentals, ultimately pushing up the amount landlords can charge. The problem is exacerbated by a shortage of construction workers, which makes it difficult for developers to boost the supply of available housing.

The coronavirus pandemic threw rental properties for a proverbial loop. The Census Bureau in April 2020 launched a Household Pulse Survey providing weekly updates on how individuals and families have been affected during the pandemic. Data show ongoing difficulties in finding work, affording food, and paying the rent. Meanwhile, the pandemic has created a “seesaw effect” on rent, with rental rates in the most expensive U.S. cities dropping while rental rates have gone up in historically less expensive areas.

Stacker compiled a list of zip codes with the fastest growing rent in Chicago using data from Zillow. Zip codes are ranked by the change in Zillow Observed Rent Index for all homes and apartments over the last year as of January 2021. Listings and images are from realtor.com.

Zip codes with the fastest growing rent in Chicago

Since the start of the 21st century and prior to the coronavirus pandemic, the cost of rent has skyrocketed across America. Every state in the nation saw a spike in the cost of apartments and other residential rentals. Places like Washington D.C., California, and Hawaii have seen rent prices more than double over the past two decades.

While the reasons for rent hikes may vary by locality, one of the major factors for higher costs is the overall decline in homeownership, which hit a peak of 66% in 2000. That, in turn, has led to more Americans turning to rentals, ultimately pushing up the amount landlords can charge. The problem is exacerbated by a shortage of construction workers, which makes it difficult for developers to boost the supply of available housing.

The coronavirus pandemic threw rental properties for a proverbial loop. The Census Bureau in April 2020 launched a Household Pulse Survey providing weekly updates on how individuals and families have been affected during the pandemic. Data show ongoing difficulties in finding work, affording food, and paying the rent. Meanwhile, the pandemic has created a “seesaw effect” on rent, with rental rates in the most expensive U.S. cities dropping while rental rates have gone up in historically less expensive areas.

Stacker compiled a list of zip codes with the fastest growing rent in Chicago using data from Zillow. Zip codes are ranked by the change in Zillow Observed Rent Index for all homes and apartments over the last year as of January 2021. Listings and images are from realtor.com.

#30. 60446 (Romeoville)

- 1 year rent change: +4.1%
- 5 year rent change: +13.1%
- Typical rent: $1,677
--- 3.0% less than typical rent in Chicago, IL metro

- Pictured (for rent): 175 S Hightpoint Dr, Romeoville 60446 ($1,602)

#29. 60062 (Northbrook)

- 1 year rent change: +4.2%
- 5 year rent change: +9.1%
- Typical rent: $2,303
--- 33.3% above typical rent in Chicago, IL metro

- Pictured (for rent): 770 Skokie Blvd, Northbrook 60062 ($4,162)

#28. 60628 (Chicago)

- 1 year rent change: +4.4%
- 5 year rent change: +15.3%
- Typical rent: $1,293
--- 25.2% less than typical rent in Chicago, IL metro

- Pictured (for rent): 10657-59 S Wentworth, Chicago 60628 ($900)

#27. 60402 (Berwyn)

- 1 year rent change: +4.4%
- 5 year rent change: +11.7%
- Typical rent: $1,190
--- 31.1% less than typical rent in Chicago, IL metro

- Pictured (for rent): 1327 Harvey Ave Apt B, Berwyn 60402 ($1,380)

#26. 60538 (Montgomery)

- 1 year rent change: +4.5%
- 5 year rent change: +14.2%
- Typical rent: $1,936
--- 12.0% above typical rent in Chicago, IL metro

- Pictured (for rent): 1175 Reading Dr, Oswego 60538 ($2,060)

#25. 60073 (Round Lake)

- 1 year rent change: +4.6%
- 5 year rent change: +17.8%
- Typical rent: $1,518
--- 12.2% less than typical rent in Chicago, IL metro

- Pictured (for rent): 1399 Coventry Glen Dr, Round Lake 60073 ($1,365)

#24. 60438 (Lansing)

- 1 year rent change: +4.7%
- 5 year rent change: +12.9%
- Typical rent: $1,540
--- 10.9% less than typical rent in Chicago, IL metro

- Pictured (for rent): 3649 173rd Ct, Lansing 60438 ($1,350)

#23. 60504 (Aurora)

- 1 year rent change: +4.9%
- 5 year rent change: +15.7%
- Typical rent: $1,729
--- 0.1% above typical rent in Chicago, IL metro

- Pictured (for rent): 4101 Chesapeake Dr, Aurora 60504 ($1,560)

#22. 60172 (Roselle)

- 1 year rent change: +4.9%
- 5 year rent change: +14.6%
- Typical rent: $1,675
--- 3.1% less than typical rent in Chicago, IL metro

- Pictured (for rent): 619 N Plum Grove Rd, Roselle 60172 ($1,430)

#21. 60411 (Chicago Heights)

- 1 year rent change: +5.0%
- 5 year rent change: +17.2%
- Typical rent: $1,269
--- 26.6% less than typical rent in Chicago, IL metro

- Pictured (for rent): 19440-19460 Glenwood Rd, Chicago Heights 60411 ($950)

#20. 60563 (Naperville)

- 1 year rent change: +5.3%
- 5 year rent change: +15.5%
- Typical rent: $1,790
--- 3.6% above typical rent in Chicago, IL metro

- Pictured (for rent): 30W041 Flamenco Ct, Naperville 60563 ($1,500)

#19. 60564 (Naperville)

- 1 year rent change: +5.5%
- 5 year rent change: +14.7%
- Typical rent: $1,948
--- 12.7% above typical rent in Chicago, IL metro

- Pictured (for rent): 2604 Rockport Ln, Naperville 60564 ($2,299)

#18. 60565 (Naperville)

- 1 year rent change: +5.5%
- 5 year rent change: +18.0%
- Typical rent: $1,887
--- 9.2% above typical rent in Chicago, IL metro

- Pictured (for rent): 1301 Modaff Rd, Naperville 60565 ($1,575)

#17. 60649 (Chicago)

- 1 year rent change: +5.6%
- 5 year rent change: +24.2%
- Typical rent: $1,072
--- 38.0% less than typical rent in Chicago, IL metro

- Pictured (for rent): 2231 E 67th St, Chicago 60649 ($4,000)

#16. 60102 (Algonquin)

- 1 year rent change: +6.1%
- 5 year rent change: +13.7%
- Typical rent: $1,713
--- 0.9% less than typical rent in Chicago, IL metro

- Pictured (for rent): 1 N Main St, Algonquin 60102 ($3,100)

#15. 60085 (Waukegan)

- 1 year rent change: +6.1%
- 5 year rent change: +16.9%
- Typical rent: $1,369
--- 20.8% less than typical rent in Chicago, IL metro

- Pictured (for rent): 2701 W Glen Flora Ave, Waukegan 60085 ($1,025)

#14. 60620 (Chicago)

- 1 year rent change: +6.1%
- 5 year rent change: +13.7%
- Typical rent: $1,175
--- 32.0% less than typical rent in Chicago, IL metro

- Pictured (for rent): 9119 S Stewart Ave, Chicago 60620 ($1,185)

#13. 60466 (Park Forest)

- 1 year rent change: +6.2%
- 5 year rent change: +23.0%
- Typical rent: $1,463
--- 15.3% less than typical rent in Chicago, IL metro

- Pictured (for rent): 11 Fir St, Park Forest 60466 ($915)

#12. 60619 (Chicago)

- 1 year rent change: +6.3%
- 5 year rent change: +14.3%
- Typical rent: $1,153
--- 33.3% less than typical rent in Chicago, IL metro

- Pictured (for rent): 737 E 83rd Pl, Chicago 60619 ($1,149)

#11. 60031 (Gurnee)

- 1 year rent change: +6.5%
- 5 year rent change: +18.7%
- Typical rent: $1,718
--- 0.6% less than typical rent in Chicago, IL metro

- Pictured (for rent): 4344 McClure Ave, Gurnee 60031 ($1,050)

#10. 60115 (Dekalb)

- 1 year rent change: +6.5%
- 5 year rent change: +21.4%
- Typical rent: $1,091
--- 36.9% less than typical rent in Chicago, IL metro

- Pictured (for rent): 1400 Twombly Rd, Dekalb 60115 ($1,080)

#9. 60543 (Oswego)

- 1 year rent change: +6.6%
- 5 year rent change: +17.2%
- Typical rent: $1,819
--- 5.3% above typical rent in Chicago, IL metro

- Pictured (for rent): 94-98 W Jackson St, Oswego 60543 ($2,290)

#8. 60030 (Grayslake)

- 1 year rent change: +6.7%
- 5 year rent change: +24.8%
- Typical rent: $1,637
--- 5.3% less than typical rent in Chicago, IL metro

- Pictured (for rent): 18400 W IL Route 120, Grayslake 60030 ($1,460)

#7. 60447 (Minooka)

- 1 year rent change: +7.1%
- 5 year rent change: +12.7%
- Typical rent: $1,731
--- 0.2% above typical rent in Chicago, IL metro

- Pictured (for rent): 343 Coneflower Dr, Minooka 60447 ($2,195)

#6. 60139 (Glendale Heights)

- 1 year rent change: +7.4%
- 5 year rent change: +16.9%
- Typical rent: $1,585
--- 8.3% less than typical rent in Chicago, IL metro

- Pictured (for rent): 1245 Fordham Dr, Glendale Heights 60139 ($2,150)

#5. 60201 (Evanston)

- 1 year rent change: +7.9%
- 5 year rent change: +19.0%
- Typical rent: $2,071
--- 19.8% above typical rent in Chicago, IL metro

- Pictured (for rent): 1727 Oak Ave, Evanston 60201 ($3,680)

#4. 60629 (Chicago)

- 1 year rent change: +7.9%
- 5 year rent change: +21.8%
- Typical rent: $1,068
--- 38.2% less than typical rent in Chicago, IL metro

- Pictured (for rent): 6042 S Kolmar Ave, Chicago 60629 ($1,300)

#3. 60586 (Plainfield)

- 1 year rent change: +8.4%
- 5 year rent change: +20.2%
- Typical rent: $2,098
--- 21.4% above typical rent in Chicago, IL metro

- Pictured (for rent): 2510 Clear Creek Ct, Plainfield 60586 ($2,395)

#2. 60419 (Dolton)

- 1 year rent change: +11.0%
- 5 year rent change: +32.3%
- Typical rent: $1,434
--- 17.0% less than typical rent in Chicago, IL metro

- Pictured (for rent): 14133 Calumet Ave, Dolton 60419 ($2,100)

#1. 60099 (Zion)

- 1 year rent change: +15.4%
- 5 year rent change: +19.7%
- Typical rent: $1,237
--- 28.4% less than typical rent in Chicago, IL metro

- Pictured (for rent): 4110 Lake Ct, Zion 60099 ($1,100)

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