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Regardless of what "expensive" means to you, spending $1,500 a month on rent the Windy City can get you into a variety of spaces depending on your location preference. According to Chicago Agent Magazine, the square footage available for the price will depend on what section of the city you choose to rent in. For example, renting downtown will be more expensive per square foot than renting a space located a few miles outside of the city.
According to Renthop, the average central Chicago studio rents for around $1,575. Depending on the location, the size could range anywhere from 540 square-feet to over 1,000 square-feet if you are willing to move closer to the suburbs. It is rare for accommodating spaces in the city to offer more than 500 square-feet for less than $1,500 a month. Chicago Agent Magazine mentioned that renting a studio downtown that encompasses 540 square-feet costs the same as renting a space in West Chicago that encompasses 1059 square-feet.
A one-bedroom apartment in downtown Chicago is more expensive than a studio. The average one-bedroom space runs renters anywhere from $1,750 to $2,575 per month, again depending on which part of the city it exists in. A two-bedroom space costs nearly $2,500 a month, and in certain areas can break the $3,000 range. However, a two-bedroom rental space in Albany Park or Irving Park costs around $1,500 and features the same amount of space as the downtown $2,500 a month rental.