Prices last verified
Average Rent in Armour Square & Rent Trends
Rent prices and market trends across 1 apartment community in Armour Square, Chicago, IL. Updated daily.
Market Average
$1,522/mo
Lowest Listed
$1,075/mo
as of Oct 1
Communities
1
tracked daily
Units Listed
61
as of Oct 1
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Armour Square vs Chicago, IL Average
Armour Square is cheaper than the Chicago, IL average by $1,384/mo (48%). The citywide average is $2,906/mo across all neighborhoods.
Is Rent Going Up or Down in Armour Square?
As of October 2026, the average rent in Armour Square is $1,522 per month across 1 apartment community and 61 recently listed units.
The most affordable option is Lake Meadows Apartments starting at $1,075/mo. By unit type, a studio averages $1,075/mo, a 1-bedroom averages $1,358/mo, a 2-bedroom averages $1,668/mo, a 3-bedroom averages $2,132/mo.
Prices range from $1,075 to $2,280 per month. The most common price point is the $1,200 range, where 24 units were listed.
Average Rent by Bedroom
Rent Price Distribution
Rent by Bedroom Type in Armour Square
Rent Prices by Apartment in Armour Square
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| Lake Meadows Apartments | $1,075/mo | $1,522/mo | 61 | 2.6 |
Frequently Asked Questions About Rent in Armour Square
What is the average rent in Armour Square?
Is rent going up or down in Armour Square?
What is the cheapest apartment in Armour Square?
How much is a 1-bedroom apartment in Armour Square?
How many apartments are available in Armour Square?
What salary do I need to live comfortably in Armour Square?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$61,000/year
Based on the 30 percent rule, using our tracked average rent of $1,522/mo.
Comfortable income
$73,000/year
Based on the 25 percent rule, leaving more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($1,075/mo), you need to earn at least $43,000/year.
Median household income in Armour Square is $75,134 , about 3% above the comfortable-living threshold.
Cost of living in Armour Square
Overall prices in Armour Square runs above the national average by about 2% (BEA Regional Price Parity index 102.5, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Armour Square's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $1,522 |
| Utilities | $477 |
| Groceries | $563 |
| Transportation | $1,138 |
| Healthcare | $555 |
| Other goods and services | $888 |
| Estimated total | $5,143/mo |
Population
2,707,648
Median household income
$75,134
Census median rent
$1,380/mo
Census rent burden
29.0%
Median age
35.7
Mean commute
34 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Google Search Trends for Armour Square Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
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