Are you contemplating a move? Perhaps you just got a promotion. Maybe you want to be closer to family. Or, you’re simply ready for an upgrade. Whatever the reason, the search is on for an apartment that truly meets your needs.
The neighborhood where it is located is also important. Ideally, you’ll find an area that aligns with your lifestyle, budget, and unique preferences.
Things to Consider
Finding the right apartment in an ideal neighborhood is like searching for treasure. With a little planning and effort, you’ll soon find that gem of a place you’ll call home.
You may find it exciting to live amid the hustle and bustle of a city’s entertainment centers. Or, you might seek out a quiet, tree-lined street or a place with a wonderful view. In every instance, you’ll want a place that you look forward to coming home to at the end of the day.
Figuring out where to live might seem rather daunting at first. Metro areas typically offer a plethora of neighborhoods with varied identities. For example, Chicago is “home to more than a hundred neighborhoods with boundaries and names that are ever-shifting.”
Use these guidelines to narrow your focus quickly and efficiently. For many renters, the best neighborhood is one that combines location, value, and desired amenities.
Neighborhood Amenities
Every renter has unique needs and desires. Younger professionals might value proximity to nightlife, while young families might seek ready access to parks. Proximity to shopping is a priority for many. In one survey, 70% of respondents wanted a grocery store within walking distance.
Look for places to pursue your interests, like tennis, golf, hiking, or biking. In Aurora, CO, the new Tempo Nine Mile development is close to Cherry Creek State Park. It offers an 850-acre reservoir and a 35-mile trial system. In Chicago, Wrigleyville Lofts is near the sprawling 1,208-acre Lincoln Park and the Sydney R. Marovitz Golf Course.
Is there a fitness center nearby? If not, look for apartment communities offering their own facilities. Examples include DK Riata in Austin, TX. It offers two large fitness centers and on-demand fitness classes. In metro Phoenix, Senita at Cave Creek offers a 24-hour fitness center that includes a spin/yoga room with Peloton bikes.
Great restaurants add to a neighborhood’s flavor. Chicago’s River North neighborhood is awash in dynamic eateries. Timeout highlights innovative Indian, Japanese, Peruvian, Basque, and Filipino menus, among others. Grand Plaza is within walking distance of many of River North’s dining options.
Festivals and fairs add to the quality of life in some locales. For example, in Chicago’s Printers Row neighborhood, Lit Fest attracts locals and visitors alike. Burnham Pointe is just a few blocks east of the literary festival’s South Dearborn location.
Since residents want to feel safe and secure, well-lit streets and a sense of community are a plus. To learn more, research the websites of local neighborhood watch programs and law enforcement.
AreaVibes calculates a “Livability Score” for neighborhoods. Nine variables contribute to the calculation:
- Nearby amenities
- Cost of living
- Crime rates
- Employment
- Commuting
- Health/ safety
- Schools, housing
- User ratings
Search “neighborhoods only” to zero in on the area you are considering. Rank the relative importance of these variables based on your personal priorities.
Transportation
An apartment community near public transportation offers savings and convenience. Minimize the need for a personal vehicle, and for taking on slippery roads in the winter. Chicago’s Wrigleyville Lofts is located across from the Sheridan Red Line CTA station.
In the Dallas/Fort Worth area, Crest at Las Colinas Station is another example. The transit-oriented development is right by a stop along the area’s light-rail system. Residents enjoy ready access to downtown Dallas, the airports, and much more.
For those with a car, a neighborhood’s parking options are very important. Apartments with onsite parking are an ideal alternative. In Chicago’s Printers Row neighborhood, Burnham Pointe features a multi-level parking garage. In the South Loop, 1130 South Michigan offers 24-hour valet parking.
Whatever your means of transportation, be sure to calculate the impact of commuting times. An extra 15 minutes each way adds up to more than 100 hours per year.
Schools
Do you have school-age children? If so, look over the K-12 ratings at websites like usnews.com, niche.com, and greatschools.org.
In metro Denver, The Wright is a new luxury apartment community in the highly rated Cherry Creek School District. In the St. Louis suburb of Richmond Heights, EVO Apartments are in the Brentwood School District.
Greatschools.org rates all of the district’s schools between eight and 10 of 10.
Value
As you search for that ideal neighborhood, rental demand is another consideration. More demand than supply tends to increase rents.
When possible, look at area vacancy rates. Keep in mind that relatively higher rents in a superior location may be worth it. Costs may be offset by shorter commutes and ready access to leisure activities. You might also get uplifting views of lakes, rivers, or cityscapes.
What’s Coming to the Neighborhood?
Neighborhoods are dynamic and ever-changing. Therefore, look for news of restaurants, nightspots, or other places of interest coming to the area. It is also helpful to watch for upcoming infrastructure projects that might impact travel in and out of the neighborhood.
Visit Neighborhoods on Your Shortlist
If it is at all possible, visit the neighborhood or neighborhoods that look most interesting to you. See if a neighborhood’s vibe aligns with who you are and what you value the most. Visit both in the daytime and evening if you can.
Consider both ambient noise levels and the general condition of nearby properties. Drop into a local eatery and ask fellow diners how they feel about their neighborhood.
About Draper and Kramer
Draper and Kramer is a full-service real estate firm founded in 1893. D&K manages a range of luxury apartment communities in Illinois, Missouri, Texas, Arizona, and Colorado.
