106 Apartments for rent in Lombard, IL
📍Greetings, Lombard, Illinois apartment hunters, and welcome to your virtual leasing headquarters! Situated a mere 20 miles east of the Loop, and boasting some of the area’s most attractive apartments, Lombard is a convenient and coveted living locale for Chicagolanders who want the big city on their doorstep while still being able to soak in the serenity of the suburbs. Are you in the market for a dynamite apartment deal in Lombard? Then start scouring through the listings in this snazzy little apartment finder, because we guarantee the perfect apartment rental for you is just a few clicks away!
Luxurious apartments are standard fare in Lombard, and amenities tend to be top-notch and typically include spacious (1000-plus square foot) floor plans, covered parking, hardwood floors, in-unit washers/dryers, and (in a few cases) plasma TVs, fireplaces, and doorman service. Pet-friendly, furnished, and utilities-included apartments are surprisingly easy to come by in Lombard (ditto for short-term lease rentals), giving renters with a wide range of needs a variety of options.
Leasing deals, especially for new tenants, do pop up occasionally, so keep your eyes peeled for the move-in specials that many property managers offer periodically.
You should probably come see for yourself whether or not Lombard feels like a good fit for you rather than just taking our word for it.
As far as fun and games go, Lombard is no stranger to entertainment, cultural attractions, and outdoorsy activities. The city is home to a rejuvenated downtown shopping district, fifteen city parks, a water park, tons of unique eateries, a pair of heavily-traveled bikeways, and the annual Lilac Festival each May, which attracts droves of tourists. Factor in its proximity to Chicago, and we get the feeling you’ll soon be feeling right at home in Lombard in no time.
So what are you waiting for? Start clicking away, and welcome to Lombard!
February 2020 Lombard Rent Report
Welcome to the February 2020 Lombard Rent Report. Lombard rents increased over the past month. In this report, we'll evaluate trends in the Lombard rental market, including comparisons to cities throughout the metro, state, and nation.
February 2020 Lombard Rent Report
Welcome to the February 2020 Lombard Rent Report. Lombard rents increased over the past month. In this report, we'll evaluate trends in the Lombard rental market, including comparisons to cities throughout the metro, state, and nation.
Lombard rents increased significantly over the past month
Lombard rents have increased 0.4% over the past month, but are down moderately by 1.9% in comparison to the same time last year. Currently, median rents in Lombard stand at $1,344 for a one-bedroom apartment and $1,582 for a two-bedroom. This is the third straight month that the city has seen rent increases after a decline in October of last year. Lombard's year-over-year rent growth lags the state average of 1.0%, as well as the national average of 1.6%.
Rents rising across the Chicago Metro
While rent prices have decreased in Lombard over the past year, the rest of the metro is seeing the opposite trend. Rents have risen in all of the largest 10 cities in the Chicago metro for which we have data. Here's a look at how rents compare across some of the largest cities in the metro.
- Gary has the least expensive rents in the Chicago metro, with a two-bedroom median of $921; the city has also seen rents fall by 0.3% over the past month, the biggest drop in the metro.
- Waukegan has seen the fastest rent growth in the metro, with a year-over-year increase of 2.7%. The median two-bedroom there costs $1,014, while one-bedrooms go for $862.
- Naperville has the most expensive rents of the largest cities in the Chicago metro, with a two-bedroom median of $1,760; rents were up 0.3% over the past month but remained flat year-over-year.
Many large cities nationwide show more affordable rents compared to Lombard
As rents have fallen moderately in Lombard, many large cities nationwide have seen prices increase, in some cases substantially. Compared to most large cities across the country, Lombard is less affordable for renters.
- Other cities across the state have seen rents slightly increase, with Illinois as a whole logging rent growth of 1.0% over the past year. For example, rents have grown by 1.2% in Rockford and 0.6% in Springfield.
- Lombard's median two-bedroom rent of $1,582 is above the national average of $1,193. Nationwide, rents have grown by 1.6% over the past year compared to the 1.9% decline in Lombard.
- While rents in Lombard fell moderately over the past year, many cities nationwide saw increases, including DC (+1.8%), Columbus (+1.7%), and New York (+1.7%).
- Renters will generally find more expensive prices in Lombard than most large cities. For example, Springfield has a median 2BR rent of $725, where Lombard is more than twice that price.
For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
Methodology - Recent Updates:
Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.
Read more about our new methodology below, or see a more detailed post here.
Methodology:
Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.
Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.
Read more about our methodology here.
About Rent Reports:
Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.
We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.