Chicago has become one of the most in-demand cities in the U.S. for short-term stays, medical travel, corporate assignments, and extended relocations. Because of that, two types of housing options often get mixed up: short-term rentals and furnished apartments.
While they sound similar, they are very different in terms of pricing, flexibility, amenities, quality, and the type of stay they are designed for. Understanding these differences helps you choose the right option—especially if you are coming to Chicago for medical treatment, work, or temporary housing.
This guide breaks everything down clearly so you can pick the option that best fits your stay.
What Is a Short-Term Rental?
A short-term rental is any rental property—often on platforms like Airbnb or Vrbo—available for stays under 30 days or up to a few months. Short-term rentals are usually owned by individual hosts rather than professional housing companies.
Common Features of Short-Term Rentals:
- Can be booked nightly, weekly, or monthly
- Varies in quality depending on the host
- May include cleaning fees, service fees, and taxes
- More flexible for very short stays (1–14 nights)
- Often located in neighborhoods rather than high-rise buildings
Short-term rentals behave more like vacation homes rather than long-term living spaces.
What Is a Furnished Apartment?
A furnished apartment is a professionally managed rental that includes all furniture, appliances, utilities, and essentials—all set up for monthly or extended stays. In Chicago, furnished apartments are typically managed by established corporate housing companies.
Common Features of Furnished Apartments:
- 30-day minimum stay (industry standard)
- Fully furnished and move-in ready
- All utilities included in one price
- High-speed Wi-Fi
- Full kitchen and cookware
- In-unit washer and dryer
- Located in luxury or modern apartment buildings
- Stable pricing with no surprise fees
Furnished apartments are the preferred option for medical stays, business assignments, and relocations because they offer long-term comfort without long-term commitment.
Short-Term Rentals vs Furnished Apartments: Key Differences
1. Length of Stay
- Short-Term Rentals: 1 night to a few weeks.
- Furnished Apartments: Usually 30 days or more.
If you’re staying in Chicago for more than 2–3 weeks, furnished apartments are typically cheaper and more comfortable.
2. Pricing Structure
Short-Term Rentals
- Nightly rates add up quickly
- Extra cleaning fees
- Service fees (can be $100–$250 per booking)
- Taxes and occupancy fees
Furnished Apartments
- Flat monthly rate
- No cleaning fees unless requested
- Utilities included
- Transparent pricing
For stays over 30 days, furnished apartments in Chicago are often 30–40% cheaper than short-term rentals.
3. Quality & Consistency
Short-term rentals vary greatly—some are excellent, others not so much. Furnished apartments, especially corporate housing, are professionally maintained and consistent in quality.
Corporate Furnished Apartments Offer:
- Standardized furniture setups
- Professional cleaning
- 24/7 guest support
- Reliable Wi-Fi
- Modern buildings and amenities
4. Designed Purpose
- Short-Term Rentals are designed for vacations and short visits.
- Furnished Apartments are designed for living—work, medical recovery, relocation.
5. Location Options
Short-Term Rentals:
- Spread throughout Chicago neighborhoods
- Often in residential condo buildings
- Sometimes far from hospitals/business districts
Furnished Apartments:
- Strategic locations near:
- Shirley Ryan AbilityLab
- Northwestern Memorial Hospital
- Rush University Medical Center
- UIC Medical District
- Downtown Loop & River North offices
- In luxury high-rise buildings
6. Amenities
Short-Term Rentals
- Basic setups vary
- Wi-Fi quality inconsistent
- Kitchens may not include full cookware
- Washer/dryer not guaranteed
Furnished Apartments
- Fully equipped kitchens
- High-speed internet
- In-unit laundry
- Rooftop lounges
- Fitness centers
- 24/7 security
Which Option Should You Choose?
Choose a Short-Term Rental If:
- You’re staying less than 14 days
- You want a unique or home-style stay
- You don’t need consistent amenities
Choose a Furnished Apartment If:
- You’re staying 30+ days
- You want comfort and stability
- You need proximity to a hospital or work
- You want transparent monthly pricing
- You’re relocating or staying for medical reasons
Expert Insight (Chicago Market)
After working directly with families, medical patients, and corporate guests in Chicago, especially around Shirley Ryan AbilityLab and Northwestern Memorial Hospital, the pattern is clear:
For any stay over 2–3 weeks, furnished corporate apartments offer far more comfort, privacy, and value than short-term rentals.
The consistency, building amenities, and professional management make a big difference—especially for medical travel and long-term stays.
Frequently Asked Questions
Are short-term rentals legal in Chicago?
Yes, but many buildings restrict Airbnb-type rentals. Furnished apartments are usually in approved buildings.
Do furnished apartments require a long lease?
No. Most begin at 30 days and extend as needed.
Can I extend my stay?
Yes, depending on availability and notice.
Are utilities included in furnished apartments?
Yes — Wi-Fi, electricity, gas, water, and heating/cooling are included.
Final Thoughts
Short-term rentals and furnished apartments serve different purposes, and choosing the right one depends on how long you’re staying and what level of comfort you need. For short visits, Airbnb-style rentals might work. But for medical patients, business travelers, relocating families, or anyone staying more than a few weeks, furnished corporate housing is the best value in Chicago.
If you need help selecting the right furnished apartment in Chicago based on your needs, you can reach out anytime for guidance. (312) 373-0861
