Key takeaway: A one-bedroom in Old Town averages about $2,600 to $2,870 a month in 2026, homes sold for a median $472,500 in early 2026, and condo assessments run roughly $435 to $680 a month in mid-rise buildings.
Old Town sits between the Gold Coast and Lincoln Park around Wells Street and North Avenue, with Victorian rowhouses, the Old Town Triangle, comedy clubs and walk-up condos. It’s a pricey place to live and an easy one to love if you know the costs. Its typical one-bedroom, about $2,871 a month, runs about $792 above the citywide typical of $2,079 (Zillow, September 2026), the 4th highest of the 92 areas in our neighborhood comparison. See also our Gold Coast page.
| Typical one-bedroom | $2,871 a month |
| Typical two-bedroom | $4,022 a month |
| Income for your own one-bedroom | About $114,840 a year |
| L lines | Brown, Purple, Red |
| Metra | None (Ogilvie nearby) |
| Part of the city | Downtown |
On this page: Rent · Getting around · Groceries · What condo owners pay on top · Free to use · Parking · Taxes and home prices · Sample budget
Rent by apartment size
| Unit | RentCafe (avg., Sept 2026) | RentHop (Oct 2026) |
|---|---|---|
| Studio | $2,338 | $2,290 |
| 1 bedroom | $2,871 | $2,600 |
| 2 bedrooms | $4,022 | $3,800 |
| 3 bedrooms | n/a | $6,997 |
Source: RentCafe Old Town, updated September 30, 2026; RentHop Old Town, where studio and three-bedroom samples are small. Sources differ because they track different listings; see why rent reports disagree.
Getting around
- L trains: Sedgwick on the Brown and Purple lines, and Clark/Division on the Red Line at the southeast corner. CTA fares are $2.25 a bus ride and $2.50 a train ride with Ventra, or $75 for a 30-day pass (CTA fares).
- Buses: #72 North and #37 Sedgwick connect at Sedgwick station, and #22 Clark and #36 Broadway run along the east side.
A 30-day CTA pass is $75 (CTA).
Groceries nearby
| Store | Address |
|---|---|
| Jewel-Osco Clark and Division | 102 W. Division St. |
| Trader Joe’s Lincoln Park | 1840 N. Clybourn Ave. |
Source: each store’s own location page or locator, checked October 25, 2026. See our Chicago grocery guide.
What condo owners pay on top
A two-bedroom at 1429 N. Wells St. carried HOA dues of $676 a month, including about $39 for its parking space, and a 2024 tax bill of $14,084. A two-bedroom at 1225 N. Orleans St. listed in October 2026 at $449,000 had a $435 monthly assessment that includes internet and a 2024 tax bill of $7,109.
Free to use
North Avenue Beach has rentals, a beach bar and grill and free beach wheelchairs with an ID; volleyball courts cost $15 an hour.
Parking
If you will have a car, check your block with the City Clerk’s zone lookup before you sign a lease. Adding a residential permit zone to your City Sticker costs $25 to $35 a year, on top of the $105.18 passenger-car sticker; our parking guide covers guest passes, meters and garages.
Property taxes and home prices
Redfin counted a median sale price of $472,500 in Old Town for the three months ending March 2026, up 12% from a year earlier, at $442 a square foot (Redfin). Old Town lies mostly in the Near North Side, where the Assessor’s 2024 condo median was $323,000 (Cook County Assessor, 2024 Chicago report). Citywide, the median Chicago homeowner bill for tax year 2025, mailed in August 2026, was $4,597, up 3.2% (Cook County Treasurer). Businesses are in SSA 48 Old Town (City of Chicago SSA list). For how bills are set and how to appeal, see our property tax guide, and to weigh owning against renting, our rent vs. buy calculator.
Old Town cost of living: a sample monthly budget
| Setup | Rent | CTA pass | Income needed at 30% rent |
|---|---|---|---|
| Your own one-bedroom | $2,871 | $75 | $114,840 |
| Half of a two-bedroom | $2,011 | $75 | $80,440 |
| Your own two-bedroom | $4,022 | $75 | $160,880 |
Source: our calculation from the RentCafe figures above (half of $4,022, rounded). Income needed is monthly rent times 12, divided by 0.30. For a fuller answer that includes taxes and the rest of your budget, try our Chicago salary calculator, and see Chicago move-in costs for what you’ll pay up front.
Compare every neighborhood side by side in our Chicago neighborhood cost comparison, or work out your own number with our salary calculator. More Downtown neighborhood profiles: Fulton Market, Gold Coast, Lakeshore East, Printer’s Row, River North, South Loop, Streeterville and West Loop.
Costs that apply in every neighborhood: property tax bills, closing costs and condo fees, water, sewer and garbage fees, ComEd and Peoples Gas, CTA fares, parking, average salaries by job and our Chicago cost index.
Sources
- RentCafe: Old Town rent
- RentHop: Old Town rent
- Redfin: Old Town housing market
- Listing: 1429 N. Wells St. #502
- Listing: 1225 N. Orleans St. #602
- CTA: Sedgwick station
- CTA: Clark/Division station
- CTA fares
- Jewel-Osco: Clark and Division
- Trader Joe’s: Lincoln Park
- Chicago Park District: North Avenue Beach
- City of Chicago: SSA list
- City of Chicago: list of L stops
- CTA fares
- City Clerk: City Sticker prices
- City Clerk: residential zone parking
- Cook County Assessor: 2024 Chicago report
- Cook County Treasurer: tax year 2025 analysis