Average Rent in Chicago, IL

Current Versus Historical Chicago, IL Rents

Chicago rentals average $1,350 for a studio rental to $4,000 for a 4-bedroom rental. The median price of all currently available listings is $2,035, or roughly $2 per square feet.

For the apartment units and housing in April 2024, median rents have fallen substantiallyover the last year. Studio rentals prices have decreased by $145 (-10.21%) year-over-year from $1,420 to $1,275. 1-bedroom rentals prices have decreased by $197 (-10.10%) year-over-year from $1,947 to $1,750. 2-bedroom rentals prices have decreased by $136 (-5.83%) year-over-year from $2,331 to $2,195. 3-bedroom rentals prices have decreased by $185 (-6.64%) year-over-year from $2,785 to $2,600. 4-bedroom rentals prices have increased by $558 (17.49%) year-over-year from $3,192 to $3,750. 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 0.91% this month. 1-bedroom rents have gone down by 2.42% this month. 2-bedroom rents have gone down by 3.80% this month. 3-bedroom rents have gone down by 2.50% this month. 4-bedroom rents have gone up by 8.80% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.21	$1,275	$1,420 (-10.21%)	$1,380 (-7.61%)
1 BR	$2.63	$1,750	$1,947 (-10.10%)	$1,597 (9.58%)
2 BR	$2.33	$2,195	$2,331 (-5.83%)	$1,908 (15.02%)
3 BR	$2.00	$2,600	$2,785 (-6.64%)	$2,448 (6.19%)
4+ BR	$2.18	$3,750	$3,192 (17.49%)	$3,066 (22.30%)

Historical Rents in Chicago, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Chicago

There are a total of 5 cities nearby Chicago. The average rent in Chicago is currently $2,350 per month. Only one city nearby has an average rent lower than that. Our records show that Evanston, IL, with an average rent of $1,955, is the most affordable city nearby. In contrast, the most expensive city near Chicago, IL is Naperville, IL. Monthly rents here are on average $2,850 per month.

Let's compare Chicago, IL's rent against other top cities nearby by bedroom size. One bedrooms are about 7.82% more expensive. Two bedrooms in Chicago, IL are about 4.35% more expensive. Finally, rent for three bedrooms are about 7.60% more affordable. Want more information? Check out the top 5 cities near Chicago, IL in the following chart.

City	Studio	1 Bed	2 Bed	All
Evanston, IL	$1,185	$1,650	$2,150	$1,955
Schaumburg, IL	N/A	$1,995	$2,350	$2,100
Wheaton, IL	N/A	$1,965	$2,350	$2,350
Aurora, IL	N/A	$1,300	$2,000	$2,373
Naperville, IL	N/A	$1,650	$2,200	$2,850

Top Neighborhoods Near Chicago

There are a total of 13 neighborhoods in or near Chicago. Some of these neighborhoods include Edgewater, Uptown, and Rogers Park. We've included all of these top 13 neighborhoods in or near Chicago, IL in the following chart.

The average rent for these 13 neighborhoods in or near Chicago, IL is currently around $1,850 per month. A total of 8 neighborhoods have a lower average rent. Meaning, only five neighborhoods have a higher average rent than $1,850. Out of all the neighborhoods in or near Chicago, Edgewater has the most affordable average rent at $1,550 per month. Whereas, at $2,800 average rent per month, South Loop is the most expensive neighborhood in or near Chicago. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Edgewater, Chicago, IL	$1,120	$1,550	$2,200	$1,550
Uptown, Chicago, IL	$1,100	$1,600	$2,595	$1,600
Rogers Park, Chicago, IL	$1,125	$1,375	$1,850	$1,600
Ravenswood, Chicago, IL	$1,210	$1,595	$2,650	$1,648
West Rogers Park, Chicago, IL	$1,200	$1,350	$1,800	$1,698
Albany Park, Chicago, IL	$1,048	$1,420	$1,925	$1,800
Lincoln Park, Chicago, IL	$1,390	$1,875	$2,795	$1,850
Logan Square, Chicago, IL	$1,250	$1,795	$2,000	$1,895
Lakeview, Chicago, IL	$1,345	$1,895	$2,590	$2,095
Hyde Park, Chicago, IL	$1,250	$1,695	$1,887	$2,299
DePaul, Chicago, IL	$1,665	$2,290	$2,400	$2,395
Near North Side, Chicago, IL	$1,850	$2,399	$3,500	$2,583
South Loop, Chicago, IL	$1,575	$2,248	$3,000	$2,800

Top Counties Near Chicago

There are a total of 13 counties located by Chicago, IL. Some of these counties include Evanston, IL, Chicago, IL, and Schaumburg, IL. The average rent for rentals in these counties is $2,141. 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 Evanston, IL. It's average rent per month is $1,955. Vice versa, with an average rent of $2,700, Naperville, IL is the most expensive county by Chicago, IL.

In comparison, rent for one bedroom listings in Chicago, IL is 1.06% more affordable than other counties nearby. Finally, rent for two bedrooms in Chicago, IL is 2.17% 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	$1,955
Chicago, IL	$1,350	$1,790	$2,300	$2,035
Schaumburg, IL	N/A	$1,995	$2,350	$2,093
Downers Grove, IL	N/A	$1,828	$2,200	$2,188
Milton, IL	N/A	$1,965	$2,320	$2,350
Naperville, IL	N/A	$1,663	$2,200	$2,700

Top Zipcodes Near Chicago

There are a total of 20 zipcodes in or near Chicago, IL. The average rent for all of these zipcodes is $2,030. A total of 10 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 60640, Chicago, IL at $1,550 per month. In comparison, the zipcode with the most expensive average rent of $2,725 per month is 60611, Chicago, IL.

Studios in these zipcodes have an average rent of $1,262. 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 $1,773 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,394 per month. Which comes out to $2 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
60657, Chicago, IL	$1,345	$1,900	$2,625	$2,077
60647, Chicago, IL	$1,250	$1,845	$2,123	$2,000
60613, Chicago, IL	$1,298	$1,700	$2,550	$1,940
60640, Chicago, IL	$1,105	$1,595	$2,483	$1,550
60614, Chicago, IL	$1,658	$2,295	$2,873	$2,393
60610, Chicago, IL	$1,853	$2,300	$3,450	$2,653
60625, Chicago, IL	$1,100	$1,495	$2,100	$1,650
60626, Chicago, IL	$1,150	$1,400	$1,850	$1,600
60618, Chicago, IL	$1,300	$1,488	$1,920	$1,950
60660, Chicago, IL	$1,120	$1,525	$1,973	$1,550

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 $2,035. 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 $1,350 and an average price per square feet of $3.21. There are a total of 516 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 $1,790 and an average price per square feet of $2.63. There are a total of 983 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 $2,300 and an average price per square feet of $2.33. There are a total of 1,013 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 -0.10%, one bedroom rental prices have changed by -0.10%, two bedroom rental prices have changed by -0.06%, and three bedroom rental prices have changed by -0.07% year-over-year.

What is a reasonable rent price in Chicago, IL?

A reasonable rent price in Chicago, IL is around $1,628/month. You can search for these reasonably priced rental listings on RentHop.