If you’re one of the many considering making the big move to Chicago or its suburbs in 2026, one of the first questions on your mind is likely: Where can I get the best deal on rent? It’s no secret that rent in the city has seen a steady climb, but how does it stack up against the suburbs? Let’s dive into the numbers and explore where your hard-earned dollars go further.
Understanding the Rent Landscape in Chicago
When it comes to rent in Chicago, there’s a wide range of options, but one thing is clear: the urban rental market is booming. With new developments popping up in every corner, especially in neighborhoods like the West Loop and River North, it’s easy to see why Chicago attracts so many renters. But is it worth it?
Average Rent Prices in Chicago (2026)
- Studio apartments: $1,500–$2,100
- 1-bedroom apartments: $1,800–$2,500
- 2-bedroom apartments: $2,400–$3,200
- 3-bedroom apartments: $3,500–$4,800
These figures are based on city-center areas, where high demand drives up costs. Sure, you get more amenities, but at what cost?
The Suburbs: A Hidden Gem for Renters
Now, let’s look at the suburban rental market, which has gained a lot of attention lately, especially for those who are working from home or looking for more space. Areas like Oak Park, Skokie, and Schaumburg offer a more relaxed pace of life, all while providing a quieter, suburban feel that many renters love.
Average Rent Prices in the Suburbs (2026)
- Studio apartments: $1,000–$1,400
- 1-bedroom apartments: $1,300–$1,800
- 2-bedroom apartments: $1,800–$2,500
- 3-bedroom apartments: $2,500–$3,500
As you can see, the suburbs come with a significant price difference. The average rents here are considerably lower, often offering more space and greater bang for your buck.
Key Differences Between Renting in Chicago vs the Suburbs
Location, location, location is a phrase that’s as true as ever. But when comparing Chicago to the suburbs, there are several factors to consider that go beyond rent prices.
Commute Costs and Convenience
- Chicago: Living in the city means you’re close to work, restaurants, entertainment, and public transportation. But with a shorter commute comes higher rent prices.
- Suburbs: While the rent is lower, the commute to downtown can be time-consuming and pricey. If you’re reliant on public transportation, your costs may add up, especially if you’re living farther from the city.
Space and Amenities
- Chicago: High-end buildings in Chicago often boast amenities like gyms, rooftop pools, and proximity to shopping. But, as with any luxury, you’ll pay a premium for it.
- Suburbs: Here, you’ll find more spacious apartments for the same price (or lower), with the added bonus of quieter surroundings and possibly even a backyard.
Real-World Example: River North vs Schaumburg
Let’s break this down with a real-world comparison. In Chicago’s upscale River North neighborhood, a 1-bedroom apartment will set you back around $2,500 per month. However, if you head 30 miles west to Schaumburg, a similar 1-bedroom could cost you around $1,600, offering 200–300 more square feet and a quieter, suburban feel.
Is the Extra Space Worth the Commute?
If you don’t mind spending a little extra time commuting to the city, moving to the suburbs could give you more space for less money. But if you thrive on the hustle and bustle of the city, the higher rent in Chicago might just be worth it.
Summary: Where Should You Rent in 2026?
The decision to rent in Chicago or the suburbs boils down to personal preferences. If you crave the convenience and excitement of the city, Chicago may be your best bet, even at a premium. But if you’re looking to stretch your dollar further and enjoy more space, the suburbs offer a great option.
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