Finding Affordable 2-Bedroom Apartments in Chicago for $700
Chicago, the vibrant and bustling city on the shores of Lake Michigan, offers a diverse range of neighborhoods, each with its own unique charm and character. For those seeking a two-bedroom apartment on a budget, finding options around $700 can be a challenge but not impossible. This guide explores various strategies, neighborhoods, and resources to help you find affordable living spaces in Chicago.
Understanding the Chicago Rental Market
The Chicago rental market is known for its diversity in housing options and price ranges. From luxury high-rises downtown to charming vintage buildings in the outlying neighborhoods, the city caters to a wide array of preferences and budgets. However, the average rent for a two-bedroom apartment in Chicago typically exceeds $1,500, making the search for $700 options more difficult but feasible with the right approach.
Neighborhoods to Explore
While central areas like the Loop, River North, and Lincoln Park are known for higher rental prices, several neighborhoods in Chicago offer more affordable options. Focus on neighborhoods that are a bit further from the city center, where rents tend to be lower.
South Shore
South Shore, located along the lakefront south of downtown, offers a mix of historic architecture and newer developments. This neighborhood has a range of rental options, including some that may fit within the $700 budget. Its proximity to the lake and public transportation makes it an attractive option for budget-conscious renters.
Englewood
Englewood is another neighborhood where you might find more affordable rental options. While this area has faced challenges over the years, it is undergoing revitalization efforts, with new developments and community initiatives aimed at improving the quality of life for residents.
East Garfield Park
East Garfield Park is an up-and-coming neighborhood with a mix of older buildings and newer developments. This area is known for its green spaces and community gardens, offering a peaceful retreat from the hustle and bustle of the city. It is also a place where you might find more budget-friendly rental options.
Auburn Gresham
Auburn Gresham, located on the South Side, is a residential neighborhood with a strong sense of community. It offers a variety of rental properties, some of which may fall within the $700 range. The neighborhood is well-connected by public transportation, making it convenient for commuting to other parts of the city.
Tips for Finding Affordable Apartments
Finding a two-bedroom apartment in Chicago for $700 requires diligence and creativity. Here are some tips to help you in your search:
Utilize Online Resources
Websites like Craigslist, Zillow, and Apartments.com are valuable tools for apartment hunting. Set up alerts for new listings that meet your criteria and be prepared to act quickly when you find a potential match. Filter your searches to focus on the most affordable options and explore listings in less sought-after neighborhoods.
Network with Locals
Networking with Chicago residents can provide valuable insights and leads on affordable housing. Join local community groups on social media platforms, attend neighborhood meetings, and connect with people who might have knowledge of available rentals. Word of mouth can often uncover hidden gems not listed online.
Consider Roommates
Sharing an apartment with roommates is a common strategy for reducing rental costs. Splitting the rent on a two-bedroom apartment can make it more feasible to find something within the $700 budget. Look for compatible roommates through roommate matching services or social media groups.
Look for Sublets and Lease Transfers
Subletting or taking over someone else's lease can be a way to find lower rents. People looking to move out of their apartments before their lease ends may be willing to offer a reduced rent to find a replacement quickly. Keep an eye on sublet listings and lease transfer opportunities.
The Importance of Being Flexible
Flexibility is key when searching for affordable apartments. Be open to different neighborhoods, property types, and lease terms. Sometimes, short-term rentals or month-to-month leases can offer lower rates. Additionally, consider apartments that might need a little TLC but offer the potential for a lower rent.
Evaluating Potential Apartments
When you find a potential apartment, it's important to evaluate it thoroughly to ensure it meets your needs and is worth the investment.
Inspect the Property
Visit the apartment in person to inspect its condition. Check for signs of wear and tear, water damage, and pest infestations. Ensure that the essential amenities like heating, plumbing, and electrical systems are in good working order.
Assess the Neighborhood
Take time to explore the neighborhood. Consider factors such as safety, proximity to public transportation, access to grocery stores, schools, and other amenities. Talk to current residents to get a sense of the community and overall living conditions.
Review the Lease Agreement
Carefully review the lease agreement before signing. Pay attention to details such as the duration of the lease, rent payment terms, security deposit requirements, and any additional fees. Ensure that you fully understand your rights and responsibilities as a tenant.
Additional Resources
Several organizations and resources in Chicago can assist in your search for affordable housing.
Chicago Housing Authority (CHA)
The CHA provides rental assistance programs and affordable housing options for low-income residents. They offer a variety of programs, including public housing and the Housing Choice Voucher Program, which can help make rent more affordable.
Non-Profit Organizations
Non-profit organizations such as the Chicago Coalition for the Homeless and the Metropolitan Tenants Organization offer resources and support for renters. They can provide information on tenant rights, legal assistance, and connections to affordable housing opportunities.
Community Development Corporations
Community Development Corporations (CDCs) work to improve housing conditions and create affordable housing opportunities in various neighborhoods. They often have listings for affordable apartments and can provide assistance in the application process.
Final Thoughts
Finding a two-bedroom apartment in Chicago for $700 is challenging but not impossible. It requires patience, persistence, and a willingness to explore various neighborhoods and resources. By utilizing online tools, networking, and being flexible in your approach, you can increase your chances of finding an affordable and comfortable living space in the Windy City.
Whether you're a long-time Chicago resident or new to the city, affordable housing is a crucial component of making the most of what Chicago has to offer. With its rich cultural scene, diverse communities, and vibrant neighborhoods, living in Chicago on a budget is achievable with the right strategies and resources.
