Average Rent in Chicago, IL

Current Versus Historical Chicago, IL Rents

Chicago rentals average $1,320 for a studio rental to $3,495 for a 4-bedroom rental. The median price of all currently available listings is $2,150, or roughly $2 per square feet.

For the apartment units and housing in October 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $45 (3.36%) year-over-year from $1,350 to $1,395. 1-bedroom rentals prices have increased by $11 (0.57%) year-over-year from $1,835 to $1,845. 2-bedroom rentals prices have decreased by $163 (-6.77%) year-over-year from $2,413 to $2,250. 3-bedroom rentals prices have decreased by $43 (-1.61%) year-over-year from $2,693 to $2,650. 4-bedroom rentals prices have increased by $282 (8.55%) year-over-year from $3,293 to $3,575. 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 8.82% this month. 1-bedroom rents have gone down by 8.36% this month. 2-bedroom rents have gone down by 10.55% this month. 3-bedroom rents have gone down by 14.05% this month. 4-bedroom rents have gone down by 3.98% this month.

Beds	Price / Sqft	Oct 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.07	$1,395	$1,350 (3.36%)	$1,288 (8.28%)
1 BR	$2.64	$1,845	$1,835 (0.57%)	$1,694 (8.89%)
2 BR	$2.19	$2,250	$2,413 (-6.77%)	$1,863 (20.81%)
3 BR	$1.87	$2,650	$2,693 (-1.61%)	$2,111 (25.54%)
4+ BR	$1.84	$3,575	$3,293 (8.55%)	$2,547 (40.36%)

Historical Rents in Chicago, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Chicago

There are a total of 6 cities nearby Chicago. The average rent in Chicago is currently $2,523 per month. Only one city nearby has an average rent lower than that. Our records show that Wheaton, IL, with an average rent of $2,100, is the most affordable city nearby. In contrast, the most expensive city near Chicago, IL is Evanston, IL. Monthly rents here are on average $2,900 per month.

Let's compare Chicago, IL's rent against other top cities nearby by bedroom size. One bedrooms are about 18.49% more affordable. Two bedrooms in Chicago, IL are about 6.14% more affordable. Finally, rent for three bedrooms are about 7.60% more affordable. Want more information? Check out the top 6 cities near Chicago, IL in the following chart.

City	Studio	1 Bed	2 Bed	All
Wheaton, IL	N/A	$1,980	$2,370	$2,100
Schaumburg, IL	N/A	$2,130	$2,300	$2,300
Aurora, IL	N/A	$1,600	$2,200	$2,395
Oak Park, IL	N/A	$2,250	$2,695	$2,650
Naperville, IL	N/A	$2,100	$2,300	$2,750
Evanston, IL	$2,306	$2,469	$3,058	$2,900

Top Neighborhoods Near Chicago

There are a total of 20 neighborhoods in or near Chicago. Some of these neighborhoods include South Shore, Uptown, and Rogers Park. We've included all of these top 20 neighborhoods in or near Chicago, IL in the following chart.

The average rent for these 20 neighborhoods in or near Chicago, IL is currently around $2,174 per month. A total of 10 neighborhoods have a lower average rent. Meaning, only ten neighborhoods have a higher average rent than $2,174. Interestingly, the neighborhoods' average rent is higher than Chicago's average rent, which is only $2,150. Out of all the neighborhoods in or near Chicago, South Shore has the most affordable average rent at $1,500 per month. Whereas, at $3,000 average rent per month, Near North Side is the most expensive neighborhood in or near Chicago. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
South Shore, Chicago, IL	$1,558	$1,175	$1,350	$1,500
Uptown, Chicago, IL	$1,225	$1,600	$2,450	$1,650
Rogers Park, Chicago, IL	$1,200	$1,550	$1,850	$1,650
Edgewater, Chicago, IL	$1,325	$1,638	$2,100	$1,725
Albany Park, Chicago, IL	N/A	$1,600	$1,975	$1,800
Humboldt Park, Chicago, IL	N/A	$1,800	$1,650	$1,900
Ravenswood, Chicago, IL	$1,300	$1,643	$2,125	$1,950
West Rogers Park, Chicago, IL	N/A	$1,625	$1,995	$1,995
Pilsen, Chicago, IL	$1,485	$1,575	$1,795	$1,995
Hyde Park, Chicago, IL	$1,135	$1,450	$1,965	$2,100
Logan Square, Chicago, IL	$1,495	$1,650	$2,150	$2,248
Lincoln Park, Chicago, IL	$1,800	$2,250	$2,950	$2,288
Bronzeville, Chicago, IL	$1,050	$1,500	$1,975	$2,348
Lakeview, Chicago, IL	$1,418	$1,800	$2,599	$2,350
South Loop, Chicago, IL	$1,600	$2,100	$2,950	$2,600
The Loop, Chicago, IL	$1,900	$2,295	$3,295	$2,748
Bucktown, Chicago, IL	N/A	$2,000	$2,579	$2,750
Near West Side, Chicago, IL	N/A	$2,400	$2,800	$2,950
West Town, Chicago, IL	$2,395	$2,425	$2,975	$2,990
Near North Side, Chicago, IL	$1,775	$2,300	$3,850	$3,000

Top Counties Near Chicago

There are a total of 20 counties located by Chicago, IL. Some of these counties include Milton, IL, Chicago, IL, and Lisle, IL. The average rent for rentals in these counties is $2,400. That's roughly around $2 per sqft. A total of 2 counties have a lower average rent. The county that is the most affordable is Milton, IL. It's average rent per month is $2,123. Vice versa, with an average rent of $3,050, Wheatland, Naperville, IL is the most expensive county by Chicago, IL.

In comparison, rent for one bedroom listings in Chicago, IL is 3.25% more affordable than other counties nearby. Finally, rent for two bedrooms in Chicago, IL is 4.20% more affordable than other counties nearby. We've listed the top 10 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Milton, IL	N/A	$1,980	$2,350	$2,123
Chicago, IL	$1,320	$1,785	$2,200	$2,150
Lisle, IL	N/A	$1,625	$1,995	$2,175
Schaumburg, IL	N/A	$2,101	$2,250	$2,250
Downers Grove, IL	N/A	$1,843	$2,293	$2,265
Leyden, IL	N/A	$1,425	$2,400	$2,400
Maine, IL	$1,500	$1,625	$2,113	$2,425
Naperville, IL	N/A	$1,893	$2,200	$2,425
Oak Park, IL	N/A	$2,250	$2,695	$2,650
Evanston, IL	$2,306	$2,469	$3,058	$2,900

Top Zipcodes Near Chicago

There are a total of 5 zipcodes in or near Chicago, IL. The average rent for all of these zipcodes is $2,050. A total of 4 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 60625, Chicago, IL at $1,898 per month. In comparison, the zipcode with the most expensive average rent of $2,912 per month is 60201, Evanston, IL.

Studios in these zipcodes have an average rent of $1,300. That's at least $2 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Chicago, IL is $1,558 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,000 per month. Which comes out to $2 per sqft. The following chart includes the top 5 zipcodes in Chicago, IL. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
60618, Chicago, IL	$1,625	$1,650	$2,000	$2,075
60615, Chicago, IL	$1,245	$1,400	$2,000	$2,050
60625, Chicago, IL	$1,300	$1,558	$1,895	$1,898
60641, Chicago, IL	$1,100	$1,363	$1,800	$2,000
60201, Evanston, IL	$2,306	$2,419	$3,195	$2,912

Frequently Asked Questions - Chicago Average Rents

What is the average rent price in Chicago, IL?

The average monthly rental price for Chicago, IL apartments for rent is approximately $2,150. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do 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 Chicago, IL.

How much is a studio apartment in Chicago, IL?

The average monthly rental price for studio apartments is $1,320 and an average price per square feet of $3.07. There are a total of 322 studio apartment listings currently available for rent in Chicago.

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

The average monthly rental price for one bedroom apartments is $1,785 and an average price per square feet of $2.64. There are a total of 909 one bedroom apartment listings currently available for rent in Chicago.

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

The average monthly rental price for two bedroom apartments is $2,200 and an average price per square feet of $2.19. There are a total of 1,391 two bedroom apartment listings currently available for rent in Chicago.

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

Rent prices for rentals in Chicago, IL can fluctuate yearly. Specifically, studio rental prices have changed by 0.03%, one bedroom rental prices have changed by 0.01%, two bedroom rental prices have changed by -0.07%, and three bedroom rental prices have changed by -0.02% year-over-year.

What is a reasonable rent price in Chicago, IL?

A reasonable rent price in Chicago, IL is around $1,720/month. You can search for these reasonably priced rental listings on RentHop.