When comparing high-rise complexes in downtown Chicago with low-rise apartments in the suburbs, even units with the same name can have significant differences in rent and square footage. Here, we will look at the average across Chicago, starting from studios to three-bedroom units.

Studios are reported to be around $1,600 per month, averaging 470 square feet. They tend to be higher in downtown and near the Loop, while they are generally lower in the suburbs, making them units with considerable variation based on location.

One-bedroom units average around $2,000 per month and about 680 square feet. They are the most sought-after units by young professionals and single-person households working from home, with a concentration of availability in downtown and the North Side.

Two-bedroom units are around $2,750 per month, averaging 1,000 square feet. This category overlaps with roommate combinations and families with one child, showing a trend where downtown has a higher proportion of roommates, while the suburbs have a higher proportion of families.

Three-bedroom units are reported to be around $3,500 per month, averaging 1,280 square feet. They are relatively rare and expensive in downtown, while they remain a more accessible option in the suburbs with good school districts.

Looking at the supply structure, one-bedroom units are the most common, followed by studios and two-bedrooms. Recent new high-rise developments are increasing the proportion of smaller units, so families looking for three-bedrooms may find it advantageous to consider suburban complexes rather than downtown.

Here's a summary of rental prices by unit type:

• Studio: $1,600 per month, about 470 square feet
• One-bedroom: $2,000 per month, about 680 square feet
• Two-bedroom: $2,750 per month, about 1,000 square feet
• Three-bedroom: $3,500 per month, about 1,280 square feet

The difference between studios and one-bedrooms is $400, between one-bedrooms and two-bedrooms is $750, and between two-bedrooms and three-bedrooms is also $750. The gap widens significantly when moving from one-bedroom to two-bedroom, likely due to the relative scarcity of two-bedroom units in the city center.

For Korean households, it's advisable to first determine whether to prioritize downtown accessibility or school districts. If your job is near the Loop, starting with a one-bedroom can save commuting time, while prioritizing child education may make it more beneficial in the long run to look for two- to three-bedroom units in suburban school district neighborhoods like Northbrook or Lincolnwood from the start.