Quote:
Originally Posted by 10023
Guys, there is definitely a market for two bedroom rentals at $5k/month. I’m in that market. For a couple who both work it isn’t much money, and there are plenty of reasons why one would want to rent rather than own (temporary re-locations, better alternative uses of capital, views on the direction of real estate prices).
And one of the main reasons to spend the extra grand on a rental is quality of fixtures. If anything that’s more important in a rental, because you can’t just gut renovate yourself. Cheaper rentals just aren’t livable for grown ups if the kitchen is a shithole, etc.
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The difference is that in London wages are high enough to easily compensate for that. I'm not saying Chicago wages are low, but it's all relative to cost of living in various cities. The 5k monthly for a 1br or 2br apartment market is microscopic in Chicago when compared to London