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Waukegan Apartments For Rent

Depending on whose definition you choose to use, Waukegan is either just inside or just outside the northern edge of the greater Chicago metropolitan area. At somewhere close to 100,000 people, Waukegan is the ninth most populous city in Illinois and like most of the other most populous cities in Illinois; it is intimately tied to Chicago and its metropolitan area. Once the home of a lot of heavy industry, manufacturing still accounts for a decreasing majority of employment in the city.

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Like other cities on the further reaches of the Chicago metropolitan area it is now slowly converting itself into a suburban community. The city has steadily invested in its infrastructure and efforts to turn it into a popular choice for well off Chicagoans. Today Waukegan bills itself as an art friendly community and plans to develop its beaches, pedestrian zones, and retail areas.

Just slightly half of all residences in Waukegan are rental properties including a wealth of apartments, however during the real estate bubble a lot of houses were built that were significantly overvalued. The result is that new renters moving to Waukegan might be able to get a better deal renting a house than an apartment. Waukegan remains a lower middle-class community with the overwhelming majority of households earning less than $75,000 a year, which means both housing and the basic cost of living is much lower than most of the greater Chicago area. With a median monthly rent of $622, the overall cost is quite affordable.

At this point, renting in Waukegan is only really viable for people that work either the city itself, Lake County or North Chicago. Any savings in the cost of rent would likely be lost in commuting expenses for people working in downtown Chicago or other parts of the greater metropolitan area. However, as Chicago continues to grow, it is only a matter of time before there is better transportation integration with the rest of Chicago.