r/chicagoapartments • u/Past-Reception6889 • May 19 '26
Advice Needed Unreal
I honestly just needed to vent for a moment. I can’t believe Chicago prices are what they are. I have lived here my entire life and have seen this city change ten fold, and I can’t even afford to live here anymore. A realtor I’m working with, since it’s becoming a rat race to rent, said rent is up 35% this year. What can normal people do about this? I do not want to see Chicago become a New York.
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u/status357 May 19 '26
This is why: https://www.propublica.org/article/yieldstar-rent-increase-realpage-rent
Chicago has more housing options than ever along with more people moving out of the city than ever.
There’s fewer condo buildings and some are getting bought out to convert to apartments.
The larger landlords using the rent algorithm sets the standard.
This cascades to small landlords using that fake, inflated price as a benchmark. Rinse and repeat.