Average Rent in Central Chicago, Chicago, IL

Current Versus Historical Central Chicago, Chicago, IL Rents

Central Chicago rentals average $1,853 for a studio rental to $10,250 for a 4-bedroom rental. The median price of all currently available listings is $2,655, or roughly $3 per square feet.

For the apartment units and housing in April 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $44 (2.45%) year-over-year from $1,806 to $1,850. 1-bedroom rentals prices have decreased by $54 (-2.28%) year-over-year from $2,354 to $2,300. 2-bedroom rentals prices have decreased by $40 (-1.17%) year-over-year from $3,440 to $3,400. 3-bedroom rentals prices have decreased by $377 (-6.58%) year-over-year from $5,727 to $5,350. 4-bedroom rentals prices have decreased by $1,601 (-15.97%) year-over-year from $10,026 to $8,425. 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 up by 5.29% this month. 1-bedroom rents have gone up by 2.88% this month. 2-bedroom rents have gone up by 2.84% this month. 3-bedroom rents have gone down by 3.91% this month. 4-bedroom rents have gone down by 13.81% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.39	$1,850	$1,806 (2.45%)	$1,600 (15.63%)
1 BR	$3.00	$2,300	$2,354 (-2.28%)	$2,011 (14.39%)
2 BR	$2.76	$3,400	$3,440 (-1.17%)	$2,833 (20.03%)
3 BR	$3.20	$5,350	$5,727 (-6.58%)	$4,525 (18.22%)
4+ BR	$2.40	$8,425	$10,026 (-15.97%)	$7,245 (16.28%)

Historical Rents in Central Chicago, Chicago, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Central Chicago

There are a total of 5 cities nearby Central Chicago. The average rent in Central Chicago is currently $2,105 per month. A total of 4 cities nearby have an average rent lower than that. Our records show that Evanston, IL, with an average rent of $1,998, is the most affordable city nearby. In contrast, the most expensive city near Central Chicago, Chicago, IL is Naperville, IL. Monthly rents here are on average $2,850 per month.

Let's compare Central Chicago, Chicago, IL's rent against other top cities nearby by bedroom size. One bedrooms are about 26.00% more expensive. Two bedrooms in Central Chicago, Chicago, IL are about 34.31% more expensive. Finally, rent for three bedrooms are about 50.22% more expensive. Want more information? Check out the top 5 cities near Central Chicago, Chicago, IL in the following chart.

City	Studio	1 Bed	2 Bed	All
Evanston, IL	$1,185	$1,650	$2,150	$1,998
Chicago, IL	$1,350	$1,758	$2,250	$2,000
Schaumburg, IL	N/A	$1,995	$2,350	$2,105
Wheaton, IL	N/A	$1,865	$2,320	$2,310
Naperville, IL	N/A	$1,650	$2,250	$2,850

Top Neighborhoods Near Central Chicago

There are a total of 14 neighborhoods in or near Central Chicago. Some of these neighborhoods include Edgewater, Ravenswood, and Rogers Park. We've included all of these top 14 neighborhoods in or near Central Chicago, Chicago, IL in the following chart.

The average rent for these 14 neighborhoods in or near Central Chicago, Chicago, IL is currently around $1,888 per month. A total of 13 neighborhoods have a lower average rent. Meaning, only a single neighborhood out of these neighborhoods has a higher average rent. Out of all the neighborhoods in or near Central Chicago, Edgewater has the most affordable average rent at $1,550 per month. Whereas, at $2,786 average rent per month, South Loop is the most expensive neighborhood in or near Central Chicago. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Edgewater, Chicago, IL	$1,121	$1,550	$2,123	$1,550
Ravenswood, Chicago, IL	$1,220	$1,550	$2,550	$1,600
Rogers Park, Chicago, IL	$1,085	$1,358	$1,850	$1,600
Uptown, Chicago, IL	$1,100	$1,600	$2,225	$1,650
West Rogers Park, Chicago, IL	$1,200	$1,325	$1,800	$1,698
Albany Park, Chicago, IL	$1,048	$1,435	$1,860	$1,725
Lincoln Park, Chicago, IL	$1,385	$1,900	$2,890	$1,800
Humboldt Park, Chicago, IL	N/A	$1,775	$1,825	$1,975
Logan Square, Chicago, IL	$1,250	$1,795	$2,045	$1,995
Lakeview, Chicago, IL	$1,350	$1,850	$2,590	$2,095
Hyde Park, Chicago, IL	$1,250	$1,673	$2,000	$2,200
DePaul, Chicago, IL	$1,595	$2,245	$2,400	$2,313
Near North Side, Chicago, IL	$1,860	$2,350	$3,500	$2,543
South Loop, Chicago, IL	$1,648	$2,250	$3,000	$2,786

Top Counties Near Central Chicago

There are a total of 14 counties located by Central Chicago, Chicago, IL. Some of these counties include Evanston, IL, Chicago, IL, and Schaumburg, IL. The average rent for rentals in these counties is $2,113. That's roughly around $2 per sqft. A total of 5 counties have a lower average rent. The county that is the most affordable is Evanston, IL. It's average rent per month is $1,998. Vice versa, with an average rent of $2,700, Naperville, IL is the most expensive county by Central Chicago, Chicago, IL.

Typically, rent for studios in Central Chicago, Chicago, IL is 68.02% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Central Chicago, Chicago, IL is 24.58% more expensive than other counties nearby. Finally, rent for two bedrooms in Central Chicago, Chicago, IL is 34.31% more expensive than other counties nearby. We've listed the top 6 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Evanston, IL	$1,185	$1,650	$2,150	$1,998
Chicago, IL	$1,350	$1,758	$2,250	$2,000
Schaumburg, IL	$1,195	$1,985	$2,400	$2,100
Downers Grove, IL	N/A	$1,825	$2,209	$2,125
Milton, IL	N/A	$1,865	$2,310	$2,300
Naperville, IL	N/A	$1,663	$2,250	$2,700

Top Zipcodes Near Central Chicago

There are a total of 21 zipcodes in or near Central Chicago, Chicago, IL. The average rent for all of these zipcodes is $2,077. A total of 19 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 60660, Chicago, IL at $1,550 per month. In comparison, the zipcode with the most expensive average rent of $2,998 per month is 60607, Chicago, IL.

Studios in these zipcodes have an average rent of $1,250. That's at least $3 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Central Chicago, Chicago, IL is $1,890 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,400 per month. Which comes out to $2 per sqft. The following chart includes the top 10 zipcodes in Central Chicago, Chicago, IL. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
60654, Chicago, IL	$1,940	$2,455	$3,500	$2,500
60611, Chicago, IL	$1,800	$2,300	$3,629	$2,600
60607, Chicago, IL	$1,700	$2,400	$3,300	$2,998
60610, Chicago, IL	$1,868	$2,300	$3,500	$2,600
60642, Chicago, IL	$1,929	$2,263	$2,725	$2,675
60614, Chicago, IL	$1,600	$2,290	$2,883	$2,295
60622, Chicago, IL	$1,893	$2,100	$2,400	$2,390
60608, Chicago, IL	N/A	$1,375	$1,850	$2,013
60647, Chicago, IL	$1,250	$1,890	$2,145	$2,100
60657, Chicago, IL	$1,345	$1,900	$2,600	$2,077

Frequently Asked Questions - Central Chicago Average Rents

What is the average rent price in Central Chicago, Chicago, IL?

The average monthly rental price for Central Chicago, Chicago, IL apartments for rent is approximately $2,655. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Central Chicago, 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 Central Chicago, Chicago, IL.

How much is a studio apartment in Central Chicago, Chicago, IL?

The average monthly rental price for studio apartments is $1,853 and an average price per square feet of $3.39. There are a total of 102 studio apartment listings currently available for rent in Central Chicago.

How much is a one bedroom apartment in Central Chicago, Chicago, IL?

The average monthly rental price for one bedroom apartments is $2,375 and an average price per square feet of $3.00. There are a total of 239 one bedroom apartment listings currently available for rent in Central Chicago.

How much is a two bedroom apartment in Central Chicago, Chicago, IL?

The average monthly rental price for two bedroom apartments is $3,425 and an average price per square feet of $2.76. There are a total of 198 two bedroom apartment listings currently available for rent in Central Chicago.

How have rent prices in Central Chicago, Chicago, IL changed this year?

Rent prices for rentals in Central Chicago, Chicago, IL can fluctuate yearly. Specifically, studio rental prices have changed by 0.02%, one bedroom rental prices have changed by -0.02%, two bedroom rental prices have changed by -0.01%, and three bedroom rental prices have changed by -0.07% year-over-year.

What is a reasonable rent price in Central Chicago, Chicago, IL?

A reasonable rent price in Central Chicago, Chicago, IL is around $2,124/month. You can search for these reasonably priced rental listings on RentHop.