We recently took a deep dive into rents in Highland Park and the answer may surprise you...
Did you know the median asking rent for a 2 bedroom, 1 bath apartment in Highland Park is only $1,100? And almost all of the units in our survey offered parking!
Other interesting facts buried in the data:
- Median rents for studios came in at $800/month
- Median rents for 1 bed / 1 bath units came in at $925/month
- There were very few 3 bedroom units on the market, but these were going for as little as $1,250 and as much as $2,300
It's important to remember that units in pre-1978 buildings are rent controlled. So if you love Highland Park and think it's going to keep getting better and better, it might be worth jumping on a rent controlled 2 bedroom unit now. You might find that you're getting a steal 12 or 24 months from now.
And it's a great time to buy apartment buildings in Highland Park, too. Pay a fair price based on the existing rents and see your cashflow increase dramatically as rents go up.
If you're interested in learning more about Highland Park rents or about buying and owning apartment buildings, check out kagansblog.com!