Average Rent in Chicago, IL

Current Versus Historical Chicago, IL Rents

Chicago rentals average $1,195 for a studio rental to $3,200 for a 4-bedroom rental. The median price of all currently available listings is $1,850, or roughly $27 per square feet.

For the apartment units and housing in March 2023, median rents have risen over the last year. Studio rentals prices have decreased by $7 (-0.45%) year-over-year from $1,444 to $1,438. 1-bedroom rentals prices have increased by $157 (8.78%) year-over-year from $1,793 to $1,950. 2-bedroom rentals prices have increased by $247 (12.04%) year-over-year from $2,048 to $2,295. 3-bedroom rentals prices have increased by $228 (9.79%) year-over-year from $2,332 to $2,560. 4-bedroom rentals prices have increased by $218 (7.71%) year-over-year from $2,832 to $3,050. 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 3.70% this month. 1-bedroom rents have gone up by 3.08% this month. 2-bedroom rents have gone down by 0.18% this month. 3-bedroom rents have gone down by 1.03% this month. 4-bedroom rents have gone up by 8.28% this month.

Beds	Price / Sqft	Mar 2023 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$35	$1,438	$1,444 (-0.45%)	$1,697 (-15.28%)
1 BR	$30	$1,950	$1,793 (8.78%)	$1,728 (12.85%)
2 BR	$24	$2,295	$2,048 (12.04%)	$2,190 (4.79%)
3 BR	$22	$2,560	$2,332 (9.79%)	$2,447 (4.63%)
4+ BR	$21	$3,050	$2,832 (7.71%)	$3,165 (-3.63%)

Historical Rents in Chicago, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Chicago

There are a total of 7 cities nearby Chicago. The average rent in Chicago is currently $1,878 per month. A total of 3 cities nearby have an average rent lower than that. Our records show that Gary, IN, with an average rent of $975, is the most affordable city nearby. In contrast, the most expensive city near Chicago, IL is Naperville, IL. Monthly rents here are on average $2,350 per month.

Let's compare Chicago, IL's rent against other top cities nearby by bedroom size. Typically, rent for studios in Chicago, IL is 52.30% more expensive than other cities nearby. One bedrooms are about 18.00% more expensive. Two bedrooms in Chicago, IL are about 0.62% more expensive. Finally, rent for three bedrooms are about 3.21% more affordable. Want more information? Check out the top 7 cities near Chicago, IL in the following chart.

City	Studio	1 Bed	2 Bed	All
Gary, IN	$570	$600	$987	$975
Oak Park, IL	$1,200	$1,438	$1,800	$1,549
Evanston, IL	$1,010	$1,395	$2,095	$1,848
Schaumburg, IL	N/A	$1,835	$1,973	$1,878
Wheaton, IL	N/A	$1,730	$2,063	$2,031
Aurora, IL	$925	$1,175	$1,988	$2,095
Naperville, IL	N/A	$1,435	$2,000	$2,350

Top Neighborhoods Near Chicago

There are a total of 21 neighborhoods in or near Chicago. Some of these neighborhoods include Austin, South Shore, and Ravenswood. We've included all of these top 21 neighborhoods in or near Chicago, IL in the following chart.

The average rent for these 21 neighborhoods in or near Chicago, IL is currently around $1,800 per month. A total of 12 neighborhoods have a lower average rent. Meaning, only nine neighborhoods have a higher average rent than $1,800. Out of all the neighborhoods in or near Chicago, Austin has the most affordable average rent at $1,100 per month. Whereas, at $2,750 average rent per month, Near West Side is the most expensive neighborhood in or near Chicago. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Austin, Chicago, IL	$888	$880	$1,175	$1,100
South Shore, Chicago, IL	$850	$975	$1,300	$1,200
Ravenswood, Chicago, IL	$1,125	$1,450	$2,325	$1,380
Rogers Park, Chicago, IL	$1,013	$1,200	$1,670	$1,395
Edgewater, Chicago, IL	$1,025	$1,475	$1,895	$1,475
Lawndale, Chicago, IL	$788	$1,150	$1,498	$1,500
Albany Park, Chicago, IL	$1,143	$1,350	$1,550	$1,513
Uptown, Chicago, IL	$1,125	$1,575	$2,148	$1,600
Logan Square, Chicago, IL	$1,095	$1,673	$1,995	$1,750
Lincoln Park, Chicago, IL	$1,495	$1,825	$2,550	$1,790
Pilsen, Chicago, IL	$1,150	$1,413	$1,795	$1,800
Humboldt Park, Chicago, IL	N/A	$1,700	$1,750	$1,800
Bronzeville, Chicago, IL	$900	$1,395	$1,658	$1,965
Lakeview, Chicago, IL	$1,160	$1,850	$2,445	$1,983
Hyde Park, Chicago, IL	$1,150	$1,588	$1,800	$2,250
South Loop, Chicago, IL	$1,674	$1,995	$2,673	$2,388
West Town, Chicago, IL	$1,825	$2,380	$2,498	$2,470
Near North Side, Chicago, IL	$1,937	$2,278	$3,403	$2,495
The Loop, Chicago, IL	$1,947	$2,200	$3,579	$2,500
Bucktown, Chicago, IL	$1,448	$2,210	$2,700	$2,600
Near West Side, Chicago, IL	$2,076	$2,388	$2,995	$2,750

Top Counties Near Chicago

There are a total of 21 counties located by Chicago, IL. Some of these counties include North, IN, Calumet, IN, and Thornton, IL. The average rent for rentals in these counties is $1,841. That's roughly around $26 per sqft. A total of 8 counties have a lower average rent. The county that is the most affordable is North, IN. It's average rent per month is $860. Vice versa, with an average rent of $2,300, Naperville, IL is the most expensive county by Chicago, IL.

Typically, rent for studios in Chicago, IL is 46.44% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Chicago, IL is 19.07% more expensive than other counties nearby. Finally, rent for two bedrooms in Chicago, IL is 2.50% 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	$710	$713	$975	$860
Calumet, IN	$570	$600	$987	$999
Thornton, IL	N/A	$900	$1,200	$1,225
Oak Park, IL	$1,200	$1,438	$1,800	$1,549
Schaumburg, IL	N/A	$1,833	$1,900	$1,834
Evanston, IL	$1,010	$1,395	$2,095	$1,848
Downers Grove, IL	$1,295	$1,599	$2,010	$1,850
Chicago, IL	$1,195	$1,750	$2,000	$1,850
Milton, IL	N/A	$1,728	$2,051	$2,013
Naperville, IL	N/A	N/A	$2,148	$2,300

Top Zipcodes Near Chicago

There are a total of 30 zipcodes in or near Chicago, IL. The average rent for all of these zipcodes is $1,923. A total of 13 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 60644, Chicago, IL at $995 per month. In comparison, the zipcode with the most expensive average rent of $2,975 per month is 60611, Chicago, IL.

Studios in these zipcodes have an average rent of $1,125. That's at least $33 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Chicago, IL is $1,713 per month. Or in other words, $29 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,029 per month. Which comes out to $25 per sqft. The following chart includes the top 10 zipcodes in 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	$1,245	$1,750	$2,450	$2,062
60657, Chicago, IL	$1,165	$1,895	$2,400	$1,895
60626, Chicago, IL	$1,025	$1,295	$1,650	$1,445
60614, Chicago, IL	$1,495	$1,845	$2,550	$1,985
60649, Chicago, IL	$850	$975	$1,300	$1,200
60611, Chicago, IL	$1,700	$2,255	$3,577	$2,975
60637, Chicago, IL	$875	$1,125	$1,450	$1,625
60647, Chicago, IL	$1,095	$1,695	$2,395	$1,850
60610, Chicago, IL	$1,953	$2,200	$3,373	$2,220
60615, Chicago, IL	$1,150	$1,475	$1,800	$1,950

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 $1,850. 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 $1,195 and an average price per square feet of $34.50. There are a total of 737 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 $1,750 and an average price per square feet of $29.80. There are a total of 1,206 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 $2,000 and an average price per square feet of $24.04. There are a total of 1,439 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 0.00%, one bedroom rental prices have changed by 0.09%, two bedroom rental prices have changed by 0.12%, and three bedroom rental prices have changed by 0.10% year-over-year.

What is a reasonable rent price in Chicago, IL?

A reasonable rent price in Chicago, IL is around $1,480/month. You can search for these reasonably priced rental listings on RentHop.