Renting? Here’s why you should consider buying in today’s hot real estate market.
It’s no shock that the rental market in major metropolitan areas across the U.S. have been on the rise the last several years as the bullish economy remains strong.
Chicago Real Estate is on fire, once again
Recently in Chicago, the West Loop overtook River North as having the highest density of renters in the Midwest, with a median rent of $2,700 in July 2018 according to Rentcafe. While this may still be a relative bargain compared to cities like New York and San Francisco, it’s a tough pill to swallow long-term for the majority millennial tenants. In fact, the most expensive eight rental zip codes in the Midwest are all in Chicago, with downtown Minneapolis filing in at ninth place.