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Renters’ Guide to Gold Coast
Gold Coast is an exclusive and affluent part of the Near North Side community district, approximately 3 miles north of downtown Chicago and 1 mile north of the ritzy shopping haven known as the “Magnificent Mile”. With Lincoln Park to the north, Lake Michigan to the east, Streeterville to the south and Old Town to the west, Gold Coast exudes its own posh sense of style and class, while remaining in close proximity to the nicest attractions and amenities in the city.
Gold Coast, Chicago, IL Demographics
- Total Population7,513
Female 3,406Male 4,107
- Median Age36
Cost of Living in Gold Coast, Chicago
As one of the wealthiest neighborhoods in Chicago, the cost of living in Gold Coast is quite high when compared to the rest of the city. A meal for two at a mid-range restaurant costs well above the national average of $50.00, and the average cost for monthly utilities for a 915-square foot apartment is well above the Chicago average of $125.95.
The CTA provides public transportation; the Red Line at Clark and Division runs from Howard Street all the way to 95th Street, and Bus Routes 151, 146, 22, and 36 provide access from Sheridan Road to Broadway Street. The average cost of a bus ticket in Gold Coast is $2.00 and the average cost of a train ticket is $2.25. The average commute time to the Loop is under 10 minutes, which is far below the 25-minute national commuting average.
Average Rent in Gold Coast, Chicago, IL
- Gold Coast, Chicago, IL Average Rental Price, April, 2018$2,172/mo
- 1 Bedroom$2,092
- 2 Bedrooms$3,157
- 1 Bedroom$1,761
- 2 Bedroom$2,372
Gold Coast, Chicago, IL Apartment Rent Ranges
- < $5001%
- > $2,00046%
Gold Coast, Chicago, IL Rent Trends
|All rentals||Studio||1 Bed||2 Beds||3 Beds|
|Apr / 2018||$2,172||$1,482||$2,092||$3,157|
|May / 2017||$2,203||$1,503||$2,138||$3,236|
|Jan / 2017||$2,107||$1,447||$2,045||$3,173|
|Sept / 2016||$2,099||$1,460||$2,029||$3,177|
|May / 2016||$2,130||$1,476||$2,088||$3,188|
|Jan / 2016||$2,079||$1,452||$2,046||$3,075|
|Sept / 2015||$2,023||$1,419||$1,970||$3,074|
|May / 2015||$2,043||$1,430||$2,007||$3,056|
|Jan / 2015||$1,971||$1,376||$1,941||$2,941|
Average rent is projected to grow by 2% in 2017 compared to 2016.
Please note that projected rent growth is calculated at city level.
Average rent values on this page are aggregated from data from the following zip codes: 6061060611
Check out the average rent in Chicago.
Living in Gold Coast, Chicago
Endless shopping, historic architecture, and some of the finest dining in all of Chicago are just three of the reasons to move to Gold Coast. However, this prestigious area has a high cost of living, which could be considered one of the reasons not to move to Gold Coast.
Things to do in Gold Coast, Chicago
There’s no shortage of amazingly fun things to do in Gold Coast. Rush Street has some of the best shopping centers in the area, and the tip of the Magnificent Mile – a massive shopping spree of 450 luxury stores, malls and boutiques – begins in Gold Coast and ends eight blocks south. Free things to do with kids include the annual Gold Coast Art Fair at Grant Park and visiting the Children’s Museum, as well as the Museum of Contemporary Art. For couples’ attractions, head over to some of the best restaurants in Gold Coast, such as the 3rd Coast Café and Wine Bar, and the Bistronomic, a famous French restaurant in central Gold Coast.
Employment and Economy
Most residents take advantage of the 10-minute commute to The Loop, but those who work locally often find jobs in the restaurant and hospitality industries, healthcare, or in the personal services sector.
Gold Coast, Chicago, IL Households
- Total Number of Households4,546
Family 1,397Non-family 3,148
Children 351No Children 4,194
- Average People Per Household1.6
- Median Household Income$81,586
- Median Housing Costs Per Month$1,716
Education in Gold Coast
Gold Coast’s younger students go to the prestigious Ogden International School of Chicago for their elementary school years. The International College of Surgeons is also located towards the neighborhood’s northeastern border.
Gold Coast, Chicago, IL Education Statistics
- No High School1%
- Some High School8%
- Some College14%
- Associate Degree3%
- Bachelor Degree41%
- Graduate Degree33%
Tips for Renting in Gold Coast
We know that you will surely enjoy your stay in Gold Coast, but should you need to move out early, know that your landlord is required to help you find a subletter. However, should you be unable to find a new tenant together, then you must pay the landlord for all advertising costs.
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