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How Affordable Is Renting in Chicago?


“Chicago ranks well below other major US and global cities when it comes to rent affordability.” So says two recent reports, one by AppFolio, based in the US, and Nested, a real estate brokerage in Great Britain.

As stated in the Chicago magazine Curbed, Nested “estimates the average cost of rent for a single person in Chicago to be around $1,047 when considering that the price for apartment to be about $2.50 per square foot. The group estimates that the monthly rent for Chicago families is somewhere around $1,986, meaning that families need to earn just over $82,000 to pay rent.”

However, for families and individuals priced out of the home buying market, renters in single-family homes in Chicagoland could find that the monthly rent could be substantially less.

For more on the story, please go to Curbed here.

Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.

Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer, and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience. Mr. Willig also ran a consulting practice and provided valuation, analysis, and transactional support services to multi-billion dollar real estate companies. Previously, Mr. Willig served as the Senior Controller and Vice President of Financial Analysis and then the Chief Financial Officer of the Athena Group, a multifamily development company and fund manager.

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