{"id":5,"date":"2018-04-23T21:00:43","date_gmt":"2018-04-23T21:00:43","guid":{"rendered":"https:\/\/www.renthop.com\/content-manager\/?post_type=studies&#038;p=7956"},"modified":"2018-04-25T21:01:59","modified_gmt":"2018-04-26T01:01:59","slug":"save-on-rent-by-adding-a-little-time-to-your-daily-l-commute","status":"publish","type":"post","link":"https:\/\/www.renthop.com\/research\/save-on-rent-by-adding-a-little-time-to-your-daily-l-commute\/","title":{"rendered":"Save on Rent by Adding a Little Time to Your Daily L Commute"},"content":{"rendered":"<p>The Chicago \u201cL\u201d is the fourth largest heavy rail rapid transit system in the U.S. As an essential part of most Chicagoans\u2019 lives, the L system, on average, served <a href=\"https:\/\/www.transitchicago.com\/ridership\/\">740,000 riders each weekday in 2017<\/a>. We at RentHop, therefore, believe that it is our duty to map out the rental data by the L train stop every year to assist in your apartment hunting endeavors.<\/p>\n<p><strong>Some highlights from our study this year include:<\/strong><\/p>\n<ul>\n<li>Median rents in Downtown Chicago dropped slightly over the past year. Several stops experienced negative rent growth, including Washington \u2013 Blue Line ($2,037\/YoY -15.4%), State\/Lake \u2013 Brown, Green, Orange, Pink &amp; Purple Lines ($2,000\/YoY -11.3%), and Clark\/Lake \u2013 Blue, Brown, Green, Orange, Purple &amp; Pink Lines ($2,234\/YoY -10.1%).<\/li>\n<li>Renters can save $600 by traveling one stop south from Polk \u2013 Pink Line ($1,900) to 18<sup>th<\/sup> Street \u2013 Pink Line ($1,300).<\/li>\n<li>Renovated\/rehab units pushed up the median rents along the Pink Line. Specifically, median rents at Western, Kedzie, Central Park, and Cicero all went up over 10% the past year.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\">***<\/p>\n<p>In order to calculate the median rent for the map below, we used the RentHop rental data for one-bedroom apartments from January to April 2018 and GIS data for subway stops from <a href=\"https:\/\/data.cityofchicago.org\/\">data.cityofchicago.org<\/a>. To get accurate prices near the L train stops, we looked first at non-duplicated listings within 0.62 mile of an L train stop. We then calculated the median rent if there were at least 50 unique data points. If not, the radius from the L train stop was increased to 1.24 miles and the data was resampled to ensure enough unique listings were used when calculating the median.<\/p>\n<h3><strong>The Interactive Map Below Shows Chicago Rents by L Train Stop<\/strong><\/h3>\n<p><em><strong>You can use the interactive map to see the current one bedroom rent prices as well as how prices have changed since last year. <\/strong>You can also scroll down for an easy-to-share <\/em>version<em> of this map.<\/em><\/p>\n<p><button onclick=\"embedPopup()\">Get the code to embed this map!<\/button><\/p>\n<div style=\"position: relative; overflow: hidden; max-width: 800px; width: 100%; margin-left: auto; margin-right: auto;\">\n<div style=\"padding-bottom: 67%; height: 0px; position: relative; width: 100%;\">\n<div style=\"position: absolute; height: 100%; width: 100%;\" align=\"center\"><iframe loading=\"lazy\" src=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2018\/04\/chicago-subway-map.html\" width=\"100%\" height=\"100%\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><br \/>\n<\/iframe><\/div>\n<\/div>\n<\/div>\n<p><script>\nfunction embedPopup() {\n    alert('<iframe loading=\"lazy\" src=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2018\/04\/chicago-subway-map.html\" width=\"100%\" height=\"555px\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><\/iframe>');\n}\n<\/script><br \/>\nSimilar to last year, this year we have seen a variety of rising and falling rental prices across Chicago. Overall, the rental prices for one-bedroom apartments went down in Chicago, coinciding with the rising housing supply. Specifically, in Downtown Chicago, over 4000 apartment units were built in 2017, and several stops in downtown experienced negative rent growth, including Washington \u2013 Blue Line ($2,037\/YoY -15.4%), State\/Lake \u2013 Brown, Green, Orange, Pink &amp; Purple Lines ($2,000\/YoY -11.3%), and Clark\/Lake \u2013 Blue, Brown, Green, Orange, Purple &amp; Pink Lines ($2,234\/YoY -10.1%). Renovated units also contributed to the rent growth at certain stops, such as Western \u2013 Pink Line ($1,188, YoY 13.1%).<\/p>\n<p><strong>These Stops Have Seen Rent Increase<\/strong><\/p>\n<ul>\n<li>Damen \u2013 Pink Line: $1,295, YoY 18.7%<\/li>\n<li>Halsted \u2013 Orange Line: $850, YoY 17.2%<\/li>\n<li>95<sup>th<\/sup>\/Dan Ryan \u2013 Green Line: $850, YoY 14.1%. This potentially is related to the terminal renovation project that brought over 700 jobs and local economic opportunities to the South Side.<\/li>\n<li>Western \u2013 Blue Line &#8211; Forest Park Branch: $1,598, YoY 14.5%<\/li>\n<li>LaSalle\/Van Buren \u2013 Brown, Orange, Purple &amp; Pink Lines: $2,029, YoY 14.0%<\/li>\n<\/ul>\n<p><strong>These Stops Have Seen Rent Decrease<\/strong><\/p>\n<ul>\n<li>Harlem\/Lake \u2013 Green Line: $1,275, YoY \u2013 16.3%<\/li>\n<li>Sedgwick (Brown &#038; Purple Lines): $1,874, YoY -15.4%<\/li>\n<li>Washington \u2013 Blue Line: $2,037, YoY -15.4%<\/li>\n<li>63<sup>rd<\/sup> Street \u2013 Red Line: $823, YoY -12.5%<\/li>\n<li>Washington\/Wells \u2013 Brown, Orange, Purple &amp; Pink Lines: $2,067, YoY -8.7%<\/li>\n<\/ul>\n<p><strong>How Much Can You Save?<\/strong><br \/>\n<\/p>\n<ul>\n<li>Save $728 between Cermak-Chinatown \u2013 Red Line ($1,812) and Sox-35th \u2013 Red Line ($1,084)<\/li>\n<li>Save $600 by traveling one stop south from Polk \u2013 Pink Line ($1,900) to 18<sup>th<\/sup> Street \u2013 Pink Line ($1,300)<\/li>\n<li>Save $531 by traveling one stop north from North\/Clybourn \u2013 Red Line ($2,066) to Fullerton \u2013 Red, Brown &amp; Purple Lines ($1,535)<\/li>\n<li>Save $272 between Chicago \u2013 Blue Line ($2,067) and Division \u2013 Blue Line ($1,795)<\/li>\n<li>Save $260 between Illinois Medical Center ($1,858) and Western \u2013 Blue Line &#8211; Forest Park Branch\u00a0($1,598)<\/li>\n<\/ul>\n<p><strong>Here&#8217;s a Condensed Map for Sharing<\/strong><\/p>\n<figure id=\"attachment_5842\" aria-describedby=\"caption-attachment-5842\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2018\/04\/chicago-map-image.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-5842\" title=\"Chicago 2018 L Train Rent Map\" src=\"https:\/\/www.renthop.com\/content-manager\/wp-content\/uploads\/2018\/04\/chicago-map-image-450ppi.jpg\" alt=\"\" width=\"6469\" height=\"4250\" class=\"alignright size-full wp-image-8152\" \/\" alt=\"\" width=\"800\" height=\"800\" \/><\/a><figcaption id=\"caption-attachment-5842\" class=\"wp-caption-text\">Click For High Resolution<\/figcaption><\/figure>\n<p style=\"text-align: center;\">***<\/p>\n<p><strong>What Does This All Mean For You?<\/strong><\/p>\n<p>Finding an apartment in Chicago is hard. Deciding where to live and starting your search is probably the most difficult step. By giving you as much information about the market as possible, RentHop hopes to point you in the right direction. This map is just one of the data-backed insights we offer. All of our <a href=\"https:\/\/www.renthop.com\/chicago-il\/apartments-for-rent\">Chicago apartment<\/a> listings are ranked using available data to ensure that renters always see the best quality apartments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Chicago \u201cL\u201d is the fourth largest heavy rail rapid transit system in the U.S. As an essential part of most Chicagoans\u2019 lives, the L system, on average, served 740,000 riders each weekday in 2017. We at RentHop, therefore, believe that it is our duty to map out the rental data by the L train [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":6,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"yes","_lmt_disable":"","footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-5","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market-insights"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.4 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Save on Rent by Adding a Little Time to Your Daily L Commute - Real Estate Data &amp; Research<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.renthop.com\/research\/save-on-rent-by-adding-a-little-time-to-your-daily-l-commute\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Save on Rent by Adding a Little Time to Your Daily L Commute\" \/>\n<meta property=\"og:description\" content=\"The Chicago \u201cL\u201d is the fourth largest heavy rail rapid transit system in the U.S. As an essential part of most Chicagoans\u2019 lives, the L system, on average, served 740,000 riders each weekday in 2017. We at RentHop, therefore, believe that it is our duty to map out the rental data by the L train [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.renthop.com\/research\/save-on-rent-by-adding-a-little-time-to-your-daily-l-commute\/\" \/>\n<meta property=\"og:site_name\" content=\"Real Estate Data &amp; Research\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/renthopapartments\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-23T21:00:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-04-26T01:01:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.renthop.com\/research\/wp-content\/uploads\/sites\/2\/2018\/04\/chicago-map-image.png\" \/>\n\t<meta property=\"og:image:width\" content=\"2070\" \/>\n\t<meta property=\"og:image:height\" content=\"1360\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Shane Lee\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@renthop\" \/>\n<meta name=\"twitter:site\" content=\"@renthop\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shane Lee\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.renthop.com\/research\/save-on-rent-by-adding-a-little-time-to-your-daily-l-commute\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.renthop.com\/research\/save-on-rent-by-adding-a-little-time-to-your-daily-l-commute\/\"},\"author\":{\"name\":\"Shane Lee\",\"@id\":\"https:\/\/www.renthop.com\/research\/#\/schema\/person\/3e69a7be12d3d6e1af05a34a0aba1224\"},\"headline\":\"Save on Rent by Adding a Little Time to Your Daily L Commute\",\"datePublished\":\"2018-04-23T21:00:43+00:00\",\"dateModified\":\"2018-04-26T01:01:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.renthop.com\/research\/save-on-rent-by-adding-a-little-time-to-your-daily-l-commute\/\"},\"wordCount\":613,\"publisher\":{\"@id\":\"https:\/\/www.renthop.com\/research\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.renthop.com\/research\/save-on-rent-by-adding-a-little-time-to-your-daily-l-commute\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.renthop.com\/research\/wp-content\/uploads\/sites\/2\/2018\/04\/chicago-map-image.png\",\"articleSection\":[\"Market Insights\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.renthop.com\/research\/save-on-rent-by-adding-a-little-time-to-your-daily-l-commute\/\",\"url\":\"https:\/\/www.renthop.com\/research\/save-on-rent-by-adding-a-little-time-to-your-daily-l-commute\/\",\"name\":\"Save on Rent by Adding a Little Time to Your Daily L Commute - Real Estate Data &amp; 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