Average Rent in 60647, Chicago, IL

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Current Versus Historical 60647, Chicago, IL Rents

60647 rentals average $1,162 for a studio rental to $2,750 for a 4-bedroom rental. The median price of all currently available listings is $1,613, or roughly $31 per square feet.
For the apartment units and housing in May 2023, median rents have risen substantially over the last year. Studio rentals prices have increased by $18 (1.62%) year-over-year from $1,132 to $1,150. 1-bedroom rentals prices have increased by $185 (11.82%) year-over-year from $1,565 to $1,750. 2-bedroom rentals prices have increased by $395 (20.79%) year-over-year from $1,900 to $2,295. 3-bedroom rentals prices have increased by $169 (7.27%) year-over-year from $2,326 to $2,495. 4-bedroom rentals prices have increased by $1,048 (35.58%) year-over-year from $2,947 to $3,995. Note that this figure includes all active and rented listings throughout the month.
Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 1.29% this month. 1-bedroom rents have gone down by 2.41% this month. 2-bedroom rents have gone up by 7.83% this month. 3-bedroom rents have gone up by 4.07% this month. 4-bedroom rents have gone up by 15.35% this month.
Beds
Price / Sqft
May 2023 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $38 $1,150 $1,132 (1.62%) $1,098 (4.72%)
1 BR $30 $1,750 $1,565 (11.82%) $1,554 (12.60%)
2 BR $25 $2,295 $1,900 (20.79%) $2,050 (11.95%)
3 BR $23 $2,495 $2,326 (7.27%) $2,397 (4.10%)
4+ BR $22 $3,995 $2,947 (35.58%) $2,982 (33.99%)

Historical Rents in 60647, Chicago, IL

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near 60647

There are a total of 8 cities nearby 60647. The average rent in 60647 is currently $1,950 per month. Only one city nearby has an average rent lower than that. Our records show that Oak Park, IL, with an average rent of $1,399, is the most affordable city nearby. In contrast, the most expensive city near 60647, Chicago, IL is Naperville, IL. Monthly rents here are on average $2,650 per month.

Let's compare 60647, Chicago, IL's rent against other top cities nearby by bedroom size. Typically, rent for studios in 60647, Chicago, IL is 9.92% more expensive than other cities nearby. One bedrooms are about 6.59% more expensive. Two bedrooms in 60647, Chicago, IL are about 4.24% more expensive. Finally, rent for three bedrooms are about 7.72% more affordable. Want more information? Check out the top 8 cities near 60647, Chicago, IL in the following chart.
City Studio 1 Bed 2 Bed All
Oak Park, IL $1,098 $1,260 $1,660 $1,399
Chicago, IL $1,295 $1,695 $1,900 $1,750
Evanston, IL $1,125 $1,595 $2,200 $1,900
Wheaton, IL $1,150 $1,775 $2,188 $1,905
Schaumburg, IL N/A $1,914 $2,000 $1,995
Joliet, IL N/A $788 $2,045 $2,045
Aurora, IL $995 $1,118 $2,073 $2,150
Naperville, IL N/A $1,488 $2,175 $2,650

Top Neighborhoods Near 60647

There are a total of 22 neighborhoods in or near 60647. Some of these neighborhoods include Chatham, Gresham, and South Shore. We've included all of these top 22 neighborhoods in or near 60647, Chicago, IL in the following chart.

The average rent for these 22 neighborhoods in or near 60647, Chicago, IL is currently around $1,750 per month. A total of 10 neighborhoods have a lower average rent. Meaning, only twelve neighborhoods have a higher average rent than $1,750. Interestingly, the neighborhoods' average rent is higher than 60647's average rent, which is only $1,613. Out of all the neighborhoods in or near 60647, Chatham has the most affordable average rent at $915 per month. Whereas, at $2,975 average rent per month, The Loop is the most expensive neighborhood in or near 60647. View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All
Chatham, Chicago, IL $713 $865 $970 $915
Gresham, Chicago, IL $775 $895 $1,020 $1,020
South Shore, Chicago, IL $825 $935 $1,200 $1,070
Austin, Chicago, IL $890 $1,015 $1,195 $1,153
Lawndale, Chicago, IL $785 $1,000 $1,220 $1,300
Rogers Park, Chicago, IL $1,025 $1,273 $1,800 $1,400
Edgewater, Chicago, IL $1,050 $1,475 $1,975 $1,513
Ravenswood, Chicago, IL $1,250 $1,595 $2,673 $1,550
Logan Square, Chicago, IL $1,150 $1,595 $2,095 $1,595
Uptown, Chicago, IL $1,150 $1,600 $2,423 $1,600
Lincoln Park, Chicago, IL $1,595 $2,040 $3,050 $1,700
Pilsen, Chicago, IL $1,688 $1,538 $1,700 $1,800
Humboldt Park, Chicago, IL N/A $1,295 $1,695 $1,800
Lakeview, Chicago, IL $1,295 $1,950 $2,595 $1,945
Bronzeville, Chicago, IL $1,000 $1,375 $2,000 $2,000
University Village - Little Italy, Chicago, IL $1,477 $1,750 $2,100 $2,263
DePaul, Chicago, IL $1,138 $1,995 $2,315 $2,295
Hyde Park, Chicago, IL $1,225 $1,538 $1,900 $2,500
South Loop, Chicago, IL $1,667 $2,100 $3,000 $2,530
West Town, Chicago, IL N/A $1,975 $3,043 $2,700
Near North Side, Chicago, IL $1,880 $2,450 $3,655 $2,750
The Loop, Chicago, IL $1,989 $2,200 $3,536 $2,975

Top Counties Near 60647

There are a total of 22 counties located by 60647, Chicago, IL. Some of these counties include North, IN, Thornton, IL, and Proviso, IL. The average rent for rentals in these counties is $1,813. That's roughly around $24 per sqft. A total of 4 counties have a lower average rent. The county that is the most affordable is North, IN. It's average rent per month is $875. Vice versa, with an average rent of $2,300, Naperville, IL is the most expensive county by 60647, Chicago, IL.

Typically, rent for studios in 60647, Chicago, IL is 4.33% more expensive than other counties nearby. In comparison, rent for one bedroom listings in 60647, Chicago, IL is 13.48% more expensive than other counties nearby. Finally, rent for two bedrooms in 60647, Chicago, IL is 9.30% more expensive than other counties nearby. We've listed the top 10 counties in the chart below.
County Studio 1 Bed 2 Bed All
North, IN $388 $775 $1,095 $875
Thornton, IL $858 $925 $1,250 $1,200
Proviso, IL $1,150 $1,125 $1,625 $1,275
Oak Park, IL $1,098 $1,260 $1,660 $1,399
Chicago, IL $1,295 $1,695 $1,900 $1,750
Milton, IL $1,150 $1,760 $2,173 $1,875
Evanston, IL $1,125 $1,595 $2,200 $1,900
Downers Grove, IL $1,295 $1,617 $2,100 $1,965
Schaumburg, IL N/A $1,890 $2,000 $1,965
Naperville, IL N/A N/A $2,100 $2,300

Top Zipcodes Near 60647

There are a total of 33 zipcodes in or near 60647, Chicago, IL. The average rent for all of these zipcodes is $1,845. A total of 14 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 60619, Chicago, IL at $995 per month. In comparison, the zipcode with the most expensive average rent of $3,425 per month is 60601, Chicago, IL.

Studios in these zipcodes have an average rent of $1,150. That's at least $32 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near 60647, Chicago, IL is $1,500 per month. Or in other words, $28 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,050 per month. Which comes out to $26 per sqft. The following chart includes the top 10 zipcodes in 60647, Chicago, IL. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
60613, Chicago, IL $1,323 $1,900 $2,595 $2,200
60657, Chicago, IL $1,295 $1,945 $2,595 $1,845
60626, Chicago, IL $1,025 $1,325 $1,800 $1,463
60614, Chicago, IL $1,550 $2,043 $2,798 $1,995
60649, Chicago, IL $825 $930 $1,200 $1,070
60611, Chicago, IL $1,863 $2,523 $3,875 $3,325
60637, Chicago, IL $1,138 $925 $1,295 $1,500
60610, Chicago, IL $1,895 $2,198 $3,600 $2,195
60615, Chicago, IL $1,155 $1,650 $1,775 $2,000
60640, Chicago, IL $1,125 $1,600 $2,100 $1,450

Frequently Asked Questions - 60647 Average Rents

What is the average rent price in 60647, Chicago, IL?
The average monthly rental price for 60647, Chicago, IL apartments for rent is approximately $1,613. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do 60647, Chicago, IL rent prices drop in winter?
Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in 60647, Chicago, IL.
How much is a studio apartment in 60647, Chicago, IL?
The average monthly rental price for studio apartments is $1,162 and an average price per square feet of $37.80. There are a total of 102 studio apartment listings currently available for rent in 60647.
How much is a one bedroom apartment in 60647, Chicago, IL?
The average monthly rental price for one bedroom apartments is $1,650 and an average price per square feet of $30.00. There are a total of 106 one bedroom apartment listings currently available for rent in 60647.
How much is a two bedroom apartment in 60647, Chicago, IL?
The average monthly rental price for two bedroom apartments is $2,150 and an average price per square feet of $24.92. There are a total of 62 two bedroom apartment listings currently available for rent in 60647.
How have rent prices in 60647, Chicago, IL changed this year?
Rent prices for rentals in 60647, Chicago, IL can fluctuate yearly. Specifically, studio rental prices have changed by 0.02%, one bedroom rental prices have changed by 0.12%, two bedroom rental prices have changed by 0.21%, and three bedroom rental prices have changed by 0.07% year-over-year.
What is a reasonable rent price in 60647, Chicago, IL?
A reasonable rent price in 60647, Chicago, IL is around $1,290/month. You can search for these reasonably priced rental listings on RentHop.
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