Skip to content
  • Subscribe
  • Facebook
  • Twitter
  • Youtube
  • Instagram
  • Email
  • Home
  • News
  • Opinion
  • Entertainment
  • Features
  • Subscribe FREE to Ray Hanania’s Columns
  • Advertise
Suburban Chicagoland

Suburban Chicagoland

Original News, Features & Opinion

  • About
    • About
    • Advertise
    • Our Writers
      • Ray Hanania
      • Bill Lipinski
      • Aaron Hanania
      • Steve Metsch
      • Steve Neuhaus
    • Terms of Service
    • Privacy Policy
    • Reach Out
    • Submit a Press Release
  • Sections
    • Events
    • Opinion
    • News
    • Features
    • Seniors
    • Comic Strip
  • Library
    • “MIdnight Flight” Online Book
      • Midnight Flight Book Overview
      • Midnight Flight Introduction
      • Midnight Flight Chapter 1
      • Midnight Flight Chapter 2
      • Midnight Flight Chapter 3
      • Midnight Flight Chapter 4
      • Midnight Flight Chapter 5
      • Midnight Flight Chapter 6
      • Midnight Flight Chapter 7
      • Midnight Flight Chapter 8
      • Midnight Flight Chapter 9
      • Midnight Flight Chapter 10
      • Midnight Flight Chapter 11
      • Midnight Flight Chapter 12
      • Midnight Flight Chapter 13
    • Villages, Cities & Towns
    • Federal Office Holders
    • County Officials
    • Legislators
  • Seniors
  • Subscribe to Ray’s Columns
  • Comment
  • Podcast
    • Two Guys on Politics Podcast: A Centrist View on Politics
    • Two Guys on Politics
    • Ray Hanania on Politics Podcast
    • The Arab street Podcast
  • Hanania on Tiktok
  • Toggle search form
  • William O. Lipinski former Congressman from Illinois (5th and later 3rd District). Photo courtesy of Wikipedia
    Right from the Middle: Newt Gingrich helped fuel America’s political polarization Bill Lipinski
  • Do more for senior citizens like we do for illegal aliens Baby Boomers
  • Typewriter. Photo by Andrew Seaman courtesy of unsplash
    District 230 students receive journalism awards Cook County
  • Cook County Sherif Tom Dart
    Sheriff and District 230 honor students for public service hours Education
  • Author Patrick Girondi
    Chicagoan who invested in research to save children releases new book Books & Films
  • Dr. Helen Edwards Fermilab particle physicist
    Foster, Durbin, Duckworth introduce resolution to name Fermilab Research Center after renowned physicist Dr. Helen Edwards Features
  • Telephone
     Sheriff Dart Warns Public of Phone Scam  Baby Boomers
  • Orland Township Democratic Organization Fundraiser Feb. 23, 2023 at Papa Joe's Restaurant in Orland Park
    Orland Township Democratic Organization to honor Former Secretary of State Jesse White on Feb. 23 Cook County
  • Zwar Restaurant chicken and beef-lamb Shawarma Plate
    How to have a great Middle Eastern meal in Orland Park area Culture
  • Orland First Responders candidates Matthew G. Rafferty and William Bonnar Jr.
    First Responders announce candidacies for Orland Fire District Board seats Cook County
  • D230 students win prestigious art awards Education
  • Alderman Raymond Lopez would have made a great mayor Blogger
  • State Rep Fran Hurley 35th district
    Hurley Named Chair of Police and Fire Committee Cook County
  • Cook County Commissioner Frank Aguilar
    Cook County Announces Call for Transportation and Community Grant Program Applications Business
  • Inappropriate Illinois license plates
    New Secretary of State reaffirms rejection of inappropriate license plates Chicago
Typical Suburban street view. Courtesy of Wikipedia

Chicago suburban rents rising, nationwide trend

Posted on May 30, 2017May 30, 2017 By Ray Hanania No Comments on Chicago suburban rents rising, nationwide trend
SHARE THIS STORY
            
 
  

Chicago suburban rents rising, nationwide trend

As rent becomes more expensive, renters are starting to look for cheaper housing options outside downtown cores, prompting rent payments to rise faster in the suburbs than in urban areas, according to a new Zillow® report. For the first time in four years, suburban rents are rising faster than urban rents.

An increase in multifamily construction has slowed rent growth across the country, with rents rising at their slowest pace in five years. The suburbs often offer larger apartments and more single-family homes for rent with more space — about 19 percent of all single-family homes in the U.S. are rentals, up from 13 percent in 2005.

In the U.S., the median monthly cost of a suburban rental is up about 2.5 percent year-over-year, while the median cost of an urban rental is up 2.3 percent. At this time last year, the median urban rental price was up 5 percent year-over-year, while median suburban rental prices were up 3 percent.

Typical Suburban street view. Courtesy of Wikipedia
Typical Suburban street view. Courtesy of Wikipedia

The trend is more pronounced in booming housing markets where rent affordability is worsening. Rents in the Nashville, San Francisco and Seattle metro areas are growing faster in the suburbs than in urban areas as rising costs force renters out of the city, increasing demand in the suburbs. Over the past decade, the share of income needed for the median rent payment in the San Francisco metro has increased from 34 percent to 44 percent. In the Seattle metro, the share has increased from 26 percent to 32 percent.

Expensive coastal cities are coming off about a decade of rapidly rising rents. Years of increases have pushed urban living out of reach for many renters, who may be choosing a longer commute in exchange for cheaper rental payments. Rent affordability is a significant issue for renters across the country, and in many major metros, the share of income needed to pay rent well surpasses 30 percent.

“Because walkable urban centers close to amenities are typically a big draw for renters, you’d expect rents to rise faster in the city than in the suburbs — which is exactly what we’ve been seeing until very recently,” said Zillow Chief Economist Dr. Svenja Gudell. “But a handful of factors are helping turn the tables and beginning to push suburban rents up at a higher clip. These include deteriorating rental affordability in expensive urban cores; new apartments, albeit high-end ones, opening downtown compared to relatively few in outlying areas; and preferences among some renters toward the space offered by single-family homes in the suburbs. Rents themselves are still lower in the suburbs, but if demand keeps growing for suburban rentals and supply continues to lag, that will also start to change. As more formerly urban renters move to the suburbs in coming years, we’ll likely start seeing more apartment buildings and walkable amenities popping up in those communities.”

The price of an urban rental in Nashville is up 1.7 percent since this time last year, but the price of a rental in the suburbs is up almost 5 percent, with the median price of suburban rentals almost $500 less than an urban rental, despite many suburban rentals offering more space. Rents in Seattle are growing strongly across the metro, but the median price of suburban rentals is growing faster than the price of urban rentals by about 2 percentage points.

In San Francisco, urban rents are down 0.4 percent since this time last year, but rents in the suburbs are up 2.6 percent. The median rent price of a suburban rental is about $350 less than an urban rental in San Francisco.

Metropolitan Area

Suburban Zillow
Rent Indexi (ZRI)

Suburban
ZRI YoY
Change

Urban ZRI

Urban
ZRI YoY
Change

Metro Rental
Affordabilityii

Percent
Single-
Family
Homes as
Rentals

United States

$                    1,550

2.5%

$       1,830

2.3%

29.2%

16.8%

New York/ New Jersey

$                    2,535

3.3%

$       2,347

0.7%

40.5%

10.5%

Los Angeles-Long Beach-Anaheim, CA

$                    2,747

5.2%

$       2,662

4.9%

48.5%

24.5%

Chicago, IL

$                    1,682

0.1%

$       1,610

-1.4%

29.8%

12.8%

Dallas-Fort Worth, TX

$                    1,606

4.5%

$       2,174

3.3%

29.9%

17.0%

Philadelphia, PA

$                    1,745

1.0%

$       1,208

2.1%

28.0%

14.9%

Houston, TX

$                    1,558

-0.9%

$       1,591

-1.9%

29.9%

16.0%

Washington, DC

$                    2,127

0.1%

$       2,450

1.2%

26.5%

14.7%

Miami-Fort Lauderdale, FL

$                    1,931

4.2%

$       1,844

1.0%

n/a

20.8%

Atlanta, GA

$                    1,358

3.7%

$       1,861

7.1%

25.4%

19.3%

Boston, MA

$                    2,370

4.4%

$       2,492

1.6%

34.3%

8.5%

San Francisco, CA

$                    3,231

2.6%

$       3,576

-0.4%

43.8%

20.4%

Detroit, MI

$                    1,302

2.6%

$          749

-0.3%

25.5%

16.1%

Riverside, CA

$                    1,822

3.2%

$       1,306

3.4%

36.2%

24.8%

Phoenix, AZ

$                    1,379

3.7%

$       1,221

3.6%

27.1%

22.1%

Seattle, WA

$                    2,105

8.2%

$       2,452

6.3%

32.0%

16.5%

Minneapolis-St Paul, MN

$                    1,626

3.2%

$       1,597

5.3%

26.0%

10.6%

San Diego, CA

$                    2,553

3.4%

$       2,352

4.1%

42.0%

25.2%

St. Louis, MO

$                    1,217

0.3%

$          971

3.1%

23.1%

14.1%

Tampa, FL

$                    1,390

4.1%

$       1,281

4.4%

32.2%

19.2%

Baltimore, MD

$                    1,785

0.1%

$       1,253

-3.0%

28.0%

16.3%

Denver, CO

$                    2,027

1.2%

$       1,993

2.1%

33.0%

15.9%

Pittsburgh, PA

$                    1,121

-2.6%

$       1,002

0.1%

23.0%

13.7%

Portland, OR

$                    1,854

6.5%

$       1,898

5.8%

32.6%

16.9%

Charlotte, NC

$                    1,340

3.5%

$       1,839

5.7%

26.7%

17.8%

Sacramento, CA

$                    1,729

4.9%

$       1,884

8.6%

31.3%

23.7%

San Antonio, TX

$                    1,351

1.8%

$       1,145

6.2%

28.4%

19.2%

Orlando, FL

$                    1,441

4.3%

$       1,130

4.5%

31.8%

20.4%

Cincinnati, OH

$                    1,306

2.5%

$       1,059

6.9%

25.4%

14.7%

Cleveland, OH

$                    1,232

1.4%

$          870

0.0%

25.9%

15.3%

Kansas City, MO

$                    1,354

2.0%

$          847

5.2%

23.7%

17.6%

Las Vegas, NV

$                    1,302

2.1%

$       1,110

2.4%

28.2%

28.5%

Columbus, OH

$                    1,360

2.7%

$       1,092

-2.3%

25.6%

18.1%

Indianapolis, IN

$                    1,210

0.0%

$          752

0.4%

25.3%

17.1%

San Jose, CA

$                    3,558

1.1%

$       3,412

0.0%

39.2%

20.2%

Austin, TX

$                    1,727

0.4%

$       2,035

1.6%

29.8%

16.0%

Virginia Beach, VA

$                    1,443

-0.38%

$       1,242

-0.49%

27%

20.3%

Nashville, TN

$                    1,595

4.66%

$       2,067

1.67%

29%

14.5%

Providence, RI

$                    1,676

1.78%

$       1,479

1.36%

31%

10.5%

Milwaukee, WI

$                    1,585

1.47%

$       1,104

4.82%

27%

13.1%

Jacksonville, FL

$                    1,315

1.86%

$          967

1.38%

28%

19.1%

Memphis, TN

$                    1,082

1.30%

$       1,146

2.27%

25%

22.2%

Oklahoma City, OK

$                    1,123

-4.62%

$       1,133

-3.53%

25%

20.5%

Louisville-Jefferson County, KY

$                    1,195

2.89%

$          851

6.20%

25%

14.5%

Hartford, CT

$                    1,641

0.82%

$       1,370

8.68%

26%

7.8%

Richmond, VA

$                    1,353

0.11%

$       1,499

4.14%

26%

18.0%

New Orleans, LA

$                    1,383

-1.54%

$       1,446

-2.52%

34%

17.5%

Buffalo, NY

$                    1,298

-3.19%

$          982

7.38%

27%

9.8%

Raleigh, NC

$                    1,489

2.78%

$       1,317

5.65%

25%

16.5%

Birmingham, AL

$                    1,075

-1.49%

$          961

-0.56%

24%

13.2%

Salt Lake City, UT

$                    1,523

3.64%

$       1,509

6.28%

26%

12.5%

Zillow

Zillow® is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the place they call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics and analytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housing data and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price Expectations Survey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow Home Value Index over the next five years. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ:Z and ZG), and headquartered in Seattle.

Zillow is a registered trademark of Zillow, Inc.

______________________________
i
The Zillow Rent Index (ZRI) is the median Rent Zestimate® (estimated monthly rental price) for a given geographic area on a given day, and includes the value of all single-family residences, condominiums, cooperatives and apartments in Zillow’s database, regardless of whether they are currently listed for rent. It is expressed in dollars. Data is from March 2017.
ii Zillow determines rental affordability by analyzing the current percentage of a metro area’s median income needed to afford the rent payment on a median-priced rental home or apartment. Data is from 2016 Q4.

Many renters are looking outside of city centers for more affordable housing, causing rent payments to grow faster in the suburbs than urban areas

– Rents are rising faster in the suburbs than urban areas in some of the nation’s hottest housing markets.

– The monthly cost of a suburban rental in the U.S. is up 2.5 percent, while the cost of an urban rental is up 2.3 percent. This is the first time in four years that suburban rents are rising faster than urban rents.

– Suburban rents are outpacing urban rents in Nashville, San Francisco and Seattle, which are all hot housing markets. In Nashville, the cost of an urban rental is up 1.7 percent, but the cost of a suburban rental is up about 5 percent.

– In San Francisco, the price of an urban rental is falling, down 0.4 percent since this time last year, but suburban rental prices are up almost 3 percent year-over-year.

  • Author
  • Recent Posts
Ray Hanania
Ray Hanania
Ray Hanania is an award-winning columnist, author & former Chicago City Hall reporter (1977-1992). A veteran who served during the Vietnam War and the recipient of four SPJ Peter Lisagor Awards for column writing, Hanania writes weekly opinion columns on mainstream American & Chicagoland topics for the Southwest News-Herald, Des Plaines Valley News, the Regional News, The Reporter Newspapers, and Suburban Chicagoland.  

Hanania also writes about Middle East issues for the Arab News, and The Arab Daily News criticizing government policies in the Israeli-Palestinian conflict.

Hanania was named "Best Ethnic American Columnist" by the New America Media in November 2007, and is the 2009 recipient of the SPJ National Sigma Delta Chi Award for column writing.

Email Ray Hanania at rghanania@gmail.com.

Follow RayHanania on Gettr.com, the uncensored Twitter Ray Hanania on Gettr, the new Twitter
Ray Hanania
Latest posts by Ray Hanania (see all)
  • Do more for senior citizens like we do for illegal aliens - February 3, 2023
  • District 230 students receive journalism awards - February 3, 2023
  • Sheriff and District 230 honor students for public service hours - February 3, 2023
  • Tweet

SHARE THIS STORY
            
 
  
 
 
 
           
News, news release, Releases Tags:Chicago, Chicago suburbs, costs rising, nationwide, renting, rents, rising, suburban, suburbs, Zillow

Post navigation

Previous Post: Chicagoland No. 2 destination for U-Haul renters
Next Post: Home sales up in Chicago suburbs in April

Related Posts

  • Paul Vallas candidate for Chicago Mayor 2023. Photo courtesy of the Paul Vallas website
    Vallas releases comprehensive Public Safety Strategy for Chicago Chicago
  • Chicago Sketch Comedy Logo
    Sketch Comedy Festival Jan. 10-19, 2019 Chicago
  • Daylight savings time promotion. A 2001 US public service advertisement reminded people to adjust clocks. Photo courtesy of Wikipedia
    State Fire Marshal Reminds Illinoisans to “Change Your Clock, Change Your Batteries” Government
  • Illinois House Speaker Michael J. Madigan. Photo courtesy of Wikipedia
    Madigan’s staff challenges report on gender diversity Illinois Legislature
  • State Senator Michael Hastings Christmas Casino Night Dec. 16, 2021 fundraiser
    Senator Hastings hosts Christmas Casino Night Dec. 16 Cook County
  • Gov. Bruce Rauner vetoes legislation that would force suburban taxpayers to pay for waste and corruption at the Chicago Public Schools. The bill would take the majority of school funding from the suburbs and earmark it to bailout Chicago Public Schools, which are in debt to the amount of more than $17 billion. Photo courtesy of Governor Rauner
    Rauner appoints Tim Butler as Bicentennial Commission co-chair Government

More Related Articles

Seniors enjoy activities at Orland Township. Photo courtesy of Orland Township Orland Township Activity Center to Host February Events Baby Boomers
J.B. Pritzker receives endorsement from UFCW. Pritzker's Facebook Page Pritzker joins Federal, State and Local Leaders to break ground on next phase of Springfield Rail Business
Amtrack offers lactation suites for nursing mothers, June 18, 2018. Photo courtesy of Amtrack Amtrak offers lactation suites for nursing mothers General Topics
Road construction concrete pavement worker. Photo courtesy of Ray Hanania Illinois Tollway to host Construction Event for potential bidders news release
Coffee & Conversation Orland Fire Protection District May through October 2020 Orland Fire’s popular Coffee & Conversation resumes with virtual online meetings Briefs
Cook County GOP Chairman Endorses Bruce Rauner for Re-election Government

Leave a Reply Cancel reply

You must be logged in to post a comment.

Login with your Social ID
  • OPINION COLUMNS
  • William O. Lipinski former Congressman from Illinois (5th and later 3rd District). Photo courtesy of Wikipedia
    Right from the Middle: Newt Gingrich helped fuel America’s political polarization
    February 3, 2023
  • Do more for senior citizens like we do for illegal aliens
    February 3, 2023
  • Alderman Raymond Lopez would have made a great mayor
    January 26, 2023
  • Pritzker’s assault weapons ban not enough to make law abiding citizens safe
    January 16, 2023
  • Chicago Mayor Lori Lightfoot must go
    January 15, 2023
  • William O. Lipinski former Congressman from Illinois (5th and later 3rd District). Photo courtesy of Wikipedia
    Right from the Middle: Return semi-conductor and chip-making industries to America
    January 15, 2023

Subscribe

  • Ray-Hanania-Newsletter-300-wide-Banner.jpg

Trending

  • Chicago Mayor Lori Lightf... Chicago Mayor Lori Lightfoot must go Chicago Mayor Lori Lightfoot has faile... posted on January 15, 2023
  • Paul Vallas candidate for Chicago Mayor 2023. Photo courtesy of the Paul Vallas website Vallas urges probe in Lig... Vallas urges probe in Lightfoot's CPD scandal and accuses of Congressman Ga... posted on January 16, 2023
  • Chicago Mayoral candidate Kam Buckner 2023 Black and Latinx Elected... Black and Latinx Elected Officials Unite Against the Chaos Caused by Mayor... posted on January 8, 2023
  • Alexi Giannoulias, former Illinois state treasurer and candidate for Illinois Secretary of State Secretary of State Alexi... Secretary of State Alexi Giannoulias releases comprehensive Transition Team... posted on January 17, 2023
  • Cook County Commissioner Frank Aguilar Cook County Announces Cal... Cook County Announces Call for Transportation and Community Grant Program A... posted on January 23, 2023
  • NEWS
  • Typewriter. Photo by Andrew Seaman courtesy of unsplash
    District 230 students receive journalism awards
    February 3, 2023
  • Cook County Sherif Tom Dart
    Sheriff and District 230 honor students for public service hours
    February 3, 2023
  • Author Patrick Girondi
    Chicagoan who invested in research to save children releases new book
    February 3, 2023
  • Dr. Helen Edwards Fermilab particle physicist
    Foster, Durbin, Duckworth introduce resolution to name Fermilab Research Center after renowned physicist Dr. Helen Edwards
    February 3, 2023
  • Telephone
     Sheriff Dart Warns Public of Phone Scam 
    February 3, 2023
  • Orland Township Democratic Organization Fundraiser Feb. 23, 2023 at Papa Joe's Restaurant in Orland Park
    Orland Township Democratic Organization to honor Former Secretary of State Jesse White on Feb. 23
    February 2, 2023
  • The-Kings-Pawn-Book-300-x-300.png

The Political Pundit

Political Pundit Aug. 24, 2021. Taliban thanks president for boxes of MAGA hats
  • WORD PRESS REVIEWS
  • MyCloud by Western Digital, a hard drive that doesn't last. Don't purchase Western Digital.
    Western Digital tubes its loyal customers for profit
    October 17, 2021
  • Macho Themes website front page. Don't buy their themes. They don't work
    Difficulties with Macho Themes for WordPress
    August 21, 2021
  • TECHNOLOGY REVIEWS
  • Dr. Helen Edwards Fermilab particle physicist
    Foster, Durbin, Duckworth introduce resolution to name Fermilab Research Center after renowned physicist Dr. Helen Edwards
    February 3, 2023
  • Telephone
     Sheriff Dart Warns Public of Phone Scam 
    February 3, 2023
  • William O. Lipinski former Congressman from Illinois (5th and later 3rd District). Photo courtesy of Wikipedia
    Right from the Middle: Return semi-conductor and chip-making industries to America
    January 15, 2023

Follow Ray Hanania at
Gab.com, MeWe.com
IDobbinate.com,
Twitter, Facebook

Creative Commons License
All works on this website is licensed under a Creative Commons Attribution 4.0 International License. Do not edit original work. Give credit to the original source.

What We’re Reading

Arab News Newspaper Leading English Language Publication in the GulfArab News Newspaper

Ray Hanania on Politics
SW News Newspaper Group

  • SPORTS
  • Chicago Wolves 2022-2023 season
    Chicago Wolves top Stars for second win in a row
    October 25, 2022
  • Stagg Marching Band Pit Crew as efficient as a NASCAR pit stop! The team that does a lot of the work to help the Stagg High school band perform works behind the scenes like a NASCAR pit stop. The students are profiled in this feature
    Stagg Marching Band Pit Crew as efficient as a NASCAR pit stop!
    August 31, 2022
  • Soccer. Photo by Md Mahdi on Unsplash
    International soccer returns to SeatGeek Stadium
    August 7, 2022
  • Stefan Noesen, Chicago Wolves
    Chicago Wolves Noesen wins President’s Award
    July 22, 2022
  • NEWS RELEASES
  • Cook County Sherif Tom Dart
    Sheriff and District 230 honor students for public service hours
    February 3, 2023
  • Author Patrick Girondi
    Chicagoan who invested in research to save children releases new book
    February 3, 2023
  • Dr. Helen Edwards Fermilab particle physicist
    Foster, Durbin, Duckworth introduce resolution to name Fermilab Research Center after renowned physicist Dr. Helen Edwards
    February 3, 2023
  • Zwar Restaurant chicken and beef-lamb Shawarma Plate
    How to have a great Middle Eastern meal in Orland Park area
    January 31, 2023
  • Orland First Responders candidates Matthew G. Rafferty and William Bonnar Jr.
    First Responders announce candidacies for Orland Fire District Board seats
    January 31, 2023
John Kass Columns

Order the book PoweR PR; Ethnic Activists Guide to Strategic Communications

  • BUSINESS NEWS
  • Cook County Commissioner Frank Aguilar
    Cook County Announces Call for Transportation and Community Grant Program Applications
    January 23, 2023
  • money $20 dollar bill, dollars, cash
    Buckner unveils plan to help businesses and strengthen job
    January 19, 2023
  • United Airlines Flight at O'Hare Airport
    United offers endless airline travel problems for travelers
    December 25, 2022
  • Sam Bankman-Fried in an interview during the Bitcoin 2021 conference. Photo courtesy of Wikipedia
    Demands continue for Lightfoot and Garcia to detail ties to FTX scandal
    December 15, 2022

YOUTUBE VIDEOS

Click this link to watch or use the widget below:

Click here to view the video on YouTube or use the widget below.
Email Ray Hanania for more information about performing at your event at rghanania@gmail.com.

Copyright © 2022 Suburban Chicagoland & Urban Strategies Group

Powered by PressBook Premium theme