Regarded by many as one of Chicago’s most desirable neighborhoods, many are pleasantly surprised at the affordable rent in Lincoln Park compared to the rest of Chicago. This wonderful community has it all — trendy restaurants, a vibrant nightlife scene, thriving concert venues and renowned theaters, acres of sprawling parks and nature preserves, and the charming boutiques and coffee shops along Armitage. Living here, you can walk to North Avenue Beach, the Chicago History Museum, the Lincoln Park Zoo, and enjoy all the charm and beauty of tree-lined streets and the shores of Lake Michigan. If you’re thinking of moving to this area, here’s a look at average apartment rent in Lincoln Park.
For all its conveniences and amenities, the average rent in Lincoln Park is slightly more affordable overall compared to the rest of downtown Chicago. Most of the apartments in Lincoln Park are privately owned and managed walk-ups. There are a few new luxury high rise buildings, but because supply of new luxury high rises is lower than demand for them, Lincoln Park is surprisingly the most expensive neighborhood in the city for that type of inventory. Overall average rent in Lincoln Park is about $2000 — which is lower than the city’s average — and reflects the vast majority of Lincoln Park rentals being walk-ups. However, a one bed in a new construction luxury high rise will run you between $3000-4000, which is higher than other downtown neighborhoods where that type of inventory is in greater supply.
Here’s a table with average rent prices in Lincoln Park, Chicago. These averages can vary based on factors like building age, amenities, whether a place has in-unit laundry, and exact area each place is located in within the neighborhood:
| Apartment Type | Average Monthly Rent |
|---|---|
| Studio | $1,500 – $2,200 |
| 1 Bedroom | $2,100 – $2,900 |
| 2 Bedrooms | $2,900 – $4,000 |
| 3 Bedrooms | $3,900 – $5,500 |
| 4 Bedrooms | $5,000 – $7,500+ |
The time of year you’re looking for an apartment in downtown Chicago can affect pricing as well, with the winter being the best time to score apartment deals.
Set slightly lower than the city’s typical rental rates, Lincoln Park runs somewhere in the middle of Chicago prices. Compare these rental prices to those in River North, for example, and you’ll save about 30 percent, on average. Lincoln Park rentals are also 27 percent lower than nearby Wicker Park, 13 percent lower than Old Town, and 8 percent lower than Bucktown. Its rates are slightly higher than Lakeview, however, which averages costs about 12 percent less than this area. You can also find lower prices in Uptown or Edgewater, where rates tend to be around 20 percent lower.
Browse our listings for luxury apartments in Lincoln Park today!
