Average Rent in Chicago, IL

Current Versus Historical Chicago, IL Rents

Chicago rentals average $1,483 for a studio rental to $3,595 for a 4-bedroom rental. The median price of all currently available listings is $1,899, or roughly $2 per square feet.

For the apartment units and housing in July 2024, median rents have risen substantially over the last year. Studio rentals prices have increased by $398 (30.72%) year-over-year from $1,297 to $1,695. 1-bedroom rentals prices have increased by $631 (36.23%) year-over-year from $1,741 to $2,372. 2-bedroom rentals prices have increased by $803 (36.82%) year-over-year from $2,182 to $2,985. 3-bedroom rentals prices have increased by $1,709 (65.34%) year-over-year from $2,616 to $4,325. 4-bedroom rentals prices have increased by $818 (24.53%) year-over-year from $3,333 to $4,150. 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 4.68% this month. 1-bedroom rents have gone up by 6.93% this month. 2-bedroom rents have gone up by 4.47% this month. 3-bedroom rents have gone up by 20.98% this month. 4-bedroom rents have gone up by 2.26% this month.

Beds	Price / Sqft	Jul 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.17	$1,695	$1,297 (30.72%)	$1,339 (26.62%)
1 BR	$2.51	$2,372	$1,741 (36.23%)	$1,640 (44.63%)
2 BR	$2.34	$2,985	$2,182 (36.82%)	$1,925 (55.06%)
3 BR	$2.26	$4,325	$2,616 (65.34%)	$2,350 (84.04%)
4+ BR	$1.85	$4,150	$3,333 (24.53%)	$2,998 (38.41%)

Historical Rents in Chicago, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Chicago

Let's compare Chicago, IL's rent against other top cities nearby by bedroom size.

City	Studio	1 Bed	2 Bed	All

Top Neighborhoods Near Chicago

There are a total of 2 neighborhoods in or near Chicago. We've included all of these top 2 neighborhoods in or near Chicago, IL in the following chart.

The average rent for these 2 neighborhoods in or near Chicago, IL is currently around $1,639 per month. A total of one neighborhood has 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 Chicago, Rogers Park has the most affordable average rent at $1,350 per month. Whereas, at $1,927 average rent per month, Lakeview is the most expensive neighborhood in or near Chicago. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Rogers Park, Chicago, IL	$1,175	$1,300	$1,738	$1,350
Lakeview, Chicago, IL	$1,595	$1,945	$2,600	$1,927

Top Counties Near Chicago

There are a total of 2 counties located by Chicago, IL. The average rent for rentals in these counties is $1,899. That's roughly around $2 per sqft. A total of 1 counties have a lower average rent. The county that is the most affordable is Chicago, IL. It's average rent per month is $1,899. Vice versa, with an average rent of $1,899, Chicago, IL is the most expensive county by Chicago, IL.

Typically, rent for studios in Chicago, IL is on par with the other counties nearby. In comparison, rent for one bedroom listings in Chicago, IL is on par with the other counties nearby. Finally, rent for two bedrooms in Chicago, IL is on par with the other counties nearby. We've listed the top 1 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Chicago, IL	$1,483	$1,800	$2,250	$1,899

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 $1,999. A total of 2 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 60626, Chicago, IL at $1,350 per month. In comparison, the zipcode with the most expensive average rent of $2,250 per month is 60613, Chicago, IL.

Studios in these zipcodes have an average rent of $1,363. 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 Chicago, IL is $1,933 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,600 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
60657, Chicago, IL	$1,595	$1,936	$2,795	$1,865
60613, Chicago, IL	$1,363	$1,933	$2,600	$2,250
60614, Chicago, IL	$1,495	$2,295	$2,900	$2,223
60626, Chicago, IL	$1,175	$1,300	$1,738	$1,350
60615, Chicago, IL	$1,275	$1,645	$1,947	$1,999

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 $1,899. 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 $1,483 and an average price per square feet of $3.17. There are a total of 131 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 $1,800 and an average price per square feet of $2.51. There are a total of 237 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 $2,250 and an average price per square feet of $2.34. There are a total of 168 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 0.31%, one bedroom rental prices have changed by 0.36%, two bedroom rental prices have changed by 0.37%, and three bedroom rental prices have changed by 0.65% year-over-year.

What is a reasonable rent price in Chicago, IL?

A reasonable rent price in Chicago, IL is around $1,519/month. You can search for these reasonably priced rental listings on RentHop.