Average Rent in Old Town, Chicago, IL

Current Versus Historical Old Town, Chicago, IL Rents

Old Town rentals average $1,890 for a studio rental to $0 for a 4-bedroom rental. The median price of all currently available listings is $2,500, 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 (2.26%) year-over-year from $1,931 to $1,975. 1-bedroom rentals prices have decreased by $81 (-3.42%) year-over-year from $2,381 to $2,300. 2-bedroom rentals prices have decreased by $90 (-2.60%) year-over-year from $3,440 to $3,350. 3-bedroom rentals prices have increased by $191 (3.54%) year-over-year from $5,409 to $5,600. 4-bedroom rentals prices have decreased by $3,127 (-35.84%) year-over-year from $8,726 to $5,599. 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 8.24% this month. 1-bedroom rents have gone down by 1.92% this month. 2-bedroom rents have gone down by 0.50% this month. 3-bedroom rents have gone up by 8.74% this month. 4-bedroom rents have gone down by 24.56% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.38	$1,975	$1,931 (2.26%)	$1,613 (22.44%)
1 BR	$3.29	$2,300	$2,381 (-3.42%)	$1,967 (16.96%)
2 BR	$3.04	$3,350	$3,440 (-2.60%)	$2,342 (43.06%)
3 BR	$4.24	$5,600	$5,409 (3.54%)	$3,128 (79.01%)

Historical Rents in Old Town, Chicago, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Old Town

There are a total of 6 cities nearby Old Town. The average rent in Old Town is currently $2,201 per month. A total of 5 cities nearby have 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 Old Town, Chicago, IL is Naperville, IL. Monthly rents here are on average $2,825 per month.

Let's compare Old Town, Chicago, IL's rent against other top cities nearby by bedroom size. One bedrooms are about 24.11% more expensive. Two bedrooms in Old Town, Chicago, IL are about 30.12% more expensive. Finally, rent for three bedrooms are about 49.78% more expensive. Want more information? Check out the top 6 cities near Old Town, Chicago, IL in the following chart.

City	Studio	1 Bed	2 Bed	All
Evanston, IL	$1,185	$1,668	$2,145	$1,955
Chicago, IL	$1,350	$1,790	$2,300	$2,045
Schaumburg, IL	N/A	$1,995	$2,350	$2,103
Aurora, IL	N/A	$1,300	$2,000	$2,300
Wheaton, IL	N/A	$1,965	$2,350	$2,350
Naperville, IL	N/A	$1,650	$2,200	$2,825

Top Neighborhoods Near Old Town

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

The average rent for these 14 neighborhoods in or near Old Town, Chicago, IL is currently around $1,873 per month. A total of 12 neighborhoods have a lower average rent. Meaning, only two neighborhoods have a higher average rent than $1,873. Out of all the neighborhoods in or near Old Town, Edgewater has the most affordable average rent at $1,550 per month. Whereas, at $2,809 average rent per month, South Loop is the most expensive neighborhood in or near Old Town. 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
Rogers Park, Chicago, IL	$1,125	$1,375	$1,850	$1,600
Uptown, Chicago, IL	$1,100	$1,600	$2,595	$1,645
Ravenswood, Chicago, IL	$1,210	$1,595	$2,650	$1,648
West Rogers Park, Chicago, IL	$1,200	$1,350	$1,850	$1,750
Albany Park, Chicago, IL	$1,048	$1,420	$1,925	$1,813
Lincoln Park, Chicago, IL	$1,390	$1,863	$2,795	$1,850
Logan Square, Chicago, IL	$1,250	$1,795	$2,000	$1,895
Humboldt Park, Chicago, IL	$2,100	$1,550	$1,825	$1,975
Lakeview, Chicago, IL	$1,343	$1,895	$2,590	$2,095
Hyde Park, Chicago, IL	$1,250	$1,673	$1,887	$2,299
DePaul, Chicago, IL	$1,668	$2,290	$2,400	$2,395
Near North Side, Chicago, IL	$1,835	$2,400	$3,530	$2,600
South Loop, Chicago, IL	$1,650	$2,248	$3,000	$2,809

Top Counties Near Old Town

There are a total of 14 counties located by Old Town, Chicago, IL. Some of these counties include Evanston, IL, Chicago, IL, and Schaumburg, IL. The average rent for rentals in these counties is $2,148. That's roughly around $2 per sqft. A total of 6 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 $2,495, Naperville, IL is the most expensive county by Old Town, Chicago, IL.

In comparison, rent for one bedroom listings in Old Town, Chicago, IL is 20.59% more expensive than other counties nearby. Finally, rent for two bedrooms in Old Town, Chicago, IL is 29.98% 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	$1,668	$2,145	$1,955
Chicago, IL	$1,350	$1,790	$2,300	$2,045
Schaumburg, IL	N/A	$1,995	$2,382	$2,098
Downers Grove, IL	N/A	$1,828	$2,209	$2,198
Milton, IL	N/A	$1,965	$2,320	$2,350
Naperville, IL	N/A	$1,663	$2,200	$2,495

Top Zipcodes Near Old Town

There are a total of 20 zipcodes in or near Old Town, Chicago, IL. The average rent for all of these zipcodes is $2,045. A total of 17 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 $2,725 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 Old Town, Chicago, IL is $1,760 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,413 per month. Which comes out to $2 per sqft. The following chart includes the top 10 zipcodes in Old Town, Chicago, IL. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
60610, Chicago, IL	$1,840	$2,300	$3,475	$2,658
60642, Chicago, IL	$1,929	$2,324	$2,900	$2,700
60654, Chicago, IL	$1,945	$2,500	$3,500	$2,500
60611, Chicago, IL	$1,800	$2,305	$3,800	$2,725
60614, Chicago, IL	$1,663	$2,393	$2,873	$2,395
60657, Chicago, IL	$1,345	$1,900	$2,650	$2,090
60622, Chicago, IL	$1,890	$2,100	$2,475	$2,500
60647, Chicago, IL	$1,250	$1,823	$2,145	$2,000
60613, Chicago, IL	$1,298	$1,698	$2,550	$1,940
60618, Chicago, IL	$1,300	$1,488	$1,900	$1,950

Frequently Asked Questions - Old Town Average Rents

What is the average rent price in Old Town, Chicago, IL?

The average monthly rental price for Old Town, Chicago, IL apartments for rent is approximately $2,500. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Old Town, 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 Old Town, Chicago, IL.

How much is a studio apartment in Old Town, Chicago, IL?

The average monthly rental price for studio apartments is $1,890 and an average price per square feet of $3.38. There are a total of 17 studio apartment listings currently available for rent in Old Town.

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

The average monthly rental price for one bedroom apartments is $2,278 and an average price per square feet of $3.29. There are a total of 16 one bedroom apartment listings currently available for rent in Old Town.

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

The average monthly rental price for two bedroom apartments is $3,220 and an average price per square feet of $3.04. There are a total of 18 two bedroom apartment listings currently available for rent in Old Town.

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

Rent prices for rentals in Old Town, Chicago, IL can fluctuate yearly. Specifically, studio rental prices have changed by 0.02%, one bedroom rental prices have changed by -0.03%, two bedroom rental prices have changed by -0.03%, and three bedroom rental prices have changed by 0.04% year-over-year.

What is a reasonable rent price in Old Town, Chicago, IL?

A reasonable rent price in Old Town, Chicago, IL is around $2,000/month. You can search for these reasonably priced rental listings on RentHop.