Average Rent in Old Town, Chicago, IL

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Current Versus Historical Old Town, Chicago, IL Rents

Old Town rentals average $1,880 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 March 2024, median rents have risen over the last year. Studio rentals prices have decreased by $72 (-3.69%) year-over-year from $1,946 to $1,875. 1-bedroom rentals prices have increased by $184 (8.02%) year-over-year from $2,291 to $2,475. 2-bedroom rentals prices have increased by $311 (9.76%) year-over-year from $3,189 to $3,500. 3-bedroom rentals prices have increased by $696 (14.48%) year-over-year from $4,803 to $5,499. 4-bedroom rentals prices have decreased by $1,716 (-17.55%) year-over-year from $9,776 to $8,061. 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 4.54% this month. 1-bedroom rents have gone up by 1.32% this month. 2-bedroom rents have gone down by 0.70% this month. 3-bedroom rents have gone up by 8.36% this month. 4-bedroom rents have gone down by 2.20% this month.
Beds
Price / Sqft
Mar 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $3.38 $1,875 $1,946 (-3.69%) $1,620 (15.70%)
1 BR $3.57 $2,475 $2,291 (8.02%) $1,967 (25.86%)
2 BR $2.87 $3,500 $3,189 (9.76%) $2,365 (47.99%)
3 BR $4.69 $5,499 $4,803 (14.48%) $3,430 (60.32%)

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 5 cities nearby Old Town. The average rent in Old Town is currently $2,125 per month. A total of 4 cities nearby have an average rent lower than that. Our records show that Chicago, IL, with an average rent of $2,000, 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 $2,550 per month.

Let's compare Old Town, Chicago, IL's rent against other top cities nearby by bedroom size. One bedrooms are about 21.35% more expensive. Two bedrooms in Old Town, Chicago, IL are about 28.96% more expensive. Finally, rent for three bedrooms are about 51.88% more expensive. Want more information? Check out the top 5 cities near Old Town, Chicago, IL in the following chart.
City Studio 1 Bed 2 Bed All
Chicago, IL $1,295 $1,750 $2,300 $2,000
Schaumburg, IL N/A $1,995 $2,515 $2,043
Evanston, IL $1,195 $1,650 $2,200 $2,125
Wheaton, IL N/A $1,840 $2,350 $2,195
Naperville, IL N/A $1,700 $2,250 $2,550

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 $1,970 per month. A total of 12 neighborhoods have a lower average rent. Meaning, only two neighborhoods have a higher average rent than $1,970. Out of all the neighborhoods in or near Old Town, Edgewater has the most affordable average rent at $1,525 per month. Whereas, at $2,705 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 $1,100 $1,500 $2,175 $1,525
Rogers Park, Chicago, IL $1,148 $1,313 $1,850 $1,550
Uptown, Chicago, IL $1,095 $1,600 $2,325 $1,600
Ravenswood, Chicago, IL $1,220 $1,575 $2,550 $1,695
Albany Park, Chicago, IL $1,188 $1,350 $1,700 $1,700
West Rogers Park, Chicago, IL N/A $1,300 $1,700 $1,700
Lincoln Park, Chicago, IL $1,450 $2,000 $3,250 $1,965
Humboldt Park, Chicago, IL N/A $1,550 $1,895 $1,975
Logan Square, Chicago, IL $1,185 $1,790 $2,185 $2,050
Lakeview, Chicago, IL $1,300 $1,840 $2,588 $2,097
DePaul, Chicago, IL $1,545 $1,925 $2,398 $2,395
Bucktown, Chicago, IL $1,800 $2,400 $2,370 $2,500
Near North Side, Chicago, IL $1,855 $2,450 $3,530 $2,622
South Loop, Chicago, IL $1,698 $2,100 $3,000 $2,705

Top Counties Near Old Town

There are a total of 14 counties located by Old Town, Chicago, IL. Some of these counties include Chicago, IL, Schaumburg, IL, and Downers Grove, IL. The average rent for rentals in these counties is $2,113. That's roughly around $2 per sqft. A total of 5 counties have a lower average rent. The county that is the most affordable is Chicago, IL. It's average rent per month is $2,000. Vice versa, with an average rent of $2,600, 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 20.49% more expensive than other counties nearby. Finally, rent for two bedrooms in Old Town, Chicago, IL is 28.96% more expensive than other counties nearby. We've listed the top 6 counties in the chart below.
County Studio 1 Bed 2 Bed All
Chicago, IL $1,295 $1,750 $2,300 $2,000
Schaumburg, IL N/A $1,988 $2,475 $2,043
Downers Grove, IL N/A $1,788 $2,198 $2,100
Evanston, IL $1,195 $1,650 $2,200 $2,125
Milton, IL N/A $1,840 $2,320 $2,180
Naperville, IL N/A $1,675 $2,300 $2,600

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 $2,164. A total of 15 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 60641, Chicago, IL at $1,488 per month. In comparison, the zipcode with the most expensive average rent of $3,000 per month is 60607, Chicago, IL.

Studios in these zipcodes have an average rent of $1,258. 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 $1,824 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,411 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 $2,255 $3,375 $2,650
60642, Chicago, IL $1,850 $2,298 $2,725 $2,800
60654, Chicago, IL $1,940 $2,500 $3,600 $2,550
60611, Chicago, IL $1,800 $2,400 $3,800 $2,900
60614, Chicago, IL $1,525 $2,298 $2,862 $2,395
60657, Chicago, IL $1,325 $1,922 $2,650 $2,134
60622, Chicago, IL $1,893 $2,098 $2,450 $2,390
60607, Chicago, IL $1,950 $2,490 $3,248 $3,000
60647, Chicago, IL $1,220 $1,795 $2,275 $2,195
60613, Chicago, IL $1,295 $1,730 $2,500 $1,861

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 $1,880 and an average price per square feet of $3.38. There are a total of 18 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 $2,225 and an average price per square feet of $3.57. There are a total of 10 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 $3,238 and an average price per square feet of $2.87. There are a total of 24 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 -0.04%, one bedroom rental prices have changed by 0.08%, two bedroom rental prices have changed by 0.10%, and three bedroom rental prices have changed by 0.14% 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.
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