Average Rent in South Loop, Chicago, IL

Current Versus Historical South Loop, Chicago, IL Rents

South Loop rentals average $1,648 for a studio rental to $5,700 for a 4-bedroom rental. The median price of all currently available listings is $2,800, or roughly $2 per square feet.

For the apartment units and housing in April 2024, median rents have fallenover the last year. Studio rentals prices have increased by $3 (0.17%) year-over-year from $1,725 to $1,728. 1-bedroom rentals prices have decreased by $113 (-5.11%) year-over-year from $2,213 to $2,100. 2-bedroom rentals prices have increased by $9 (0.31%) year-over-year from $2,991 to $3,000. 3-bedroom rentals prices have decreased by $979 (-19.30%) year-over-year from $5,073 to $4,094. 4-bedroom rentals prices have decreased by $4,931 (-46.38%) year-over-year from $10,631 to $5,700. 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 2.05% this month. 1-bedroom rents have gone down by 0.00% this month. 2-bedroom rents have gone up by 2.12% this month. 3-bedroom rents have gone down by 5.85% this month. 4-bedroom rents have gone down by 13.85% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$2.77	$1,728	$1,725 (0.17%)	$1,537 (12.39%)
1 BR	$2.38	$2,100	$2,213 (-5.11%)	$1,925 (9.07%)
2 BR	$2.43	$3,000	$2,991 (0.31%)	$2,605 (15.18%)
3 BR	$2.28	$4,094	$5,073 (-19.30%)	$3,515 (16.46%)
4+ BR	$1.76	$5,700	$10,631 (-46.38%)	$12,947 (-55.97%)

Historical Rents in South Loop, Chicago, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near South Loop

There are a total of 5 cities nearby South Loop. The average rent in South Loop is currently $2,105 per month. A total of 4 cities nearby have an average rent lower than that. Our records show that Evanston, IL, with an average rent of $1,998, is the most affordable city nearby. In contrast, the most expensive city near South Loop, Chicago, IL is Naperville, IL. Monthly rents here are on average $2,850 per month.

Let's compare South Loop, Chicago, IL's rent against other top cities nearby by bedroom size. One bedrooms are about 20.22% more expensive. Two bedrooms in South Loop, Chicago, IL are about 25.00% more expensive. Finally, rent for three bedrooms are about 33.14% more expensive. Want more information? Check out the top 5 cities near South Loop, Chicago, IL in the following chart.

City	Studio	1 Bed	2 Bed	All
Evanston, IL	$1,185	$1,650	$2,150	$1,998
Chicago, IL	$1,350	$1,775	$2,250	$2,005
Schaumburg, IL	N/A	$1,995	$2,350	$2,105
Wheaton, IL	N/A	$1,960	$2,320	$2,320
Naperville, IL	N/A	$1,650	$2,250	$2,850

Top Neighborhoods Near South Loop

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

The average rent for these 14 neighborhoods in or near South Loop, Chicago, IL is currently around $1,938 per month. A total of 14 neighborhoods have a lower average rent. Out of all the neighborhoods in or near South Loop, Edgewater has the most affordable average rent at $1,550 per month. Whereas, at $2,788 average rent per month, The Loop is the most expensive neighborhood in or near South Loop. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Edgewater, Chicago, IL	$1,121	$1,550	$2,250	$1,550
Ravenswood, Chicago, IL	$1,220	$1,550	$2,570	$1,600
Rogers Park, Chicago, IL	$1,098	$1,350	$1,850	$1,600
Uptown, Chicago, IL	$1,100	$1,600	$2,225	$1,650
West Rogers Park, Chicago, IL	$1,200	$1,325	$1,800	$1,698
Albany Park, Chicago, IL	$1,050	$1,435	$1,860	$1,738
Lincoln Park, Chicago, IL	$1,385	$2,000	$2,805	$1,900
Humboldt Park, Chicago, IL	N/A	$1,775	$1,813	$1,975
Logan Square, Chicago, IL	$1,250	$1,795	$2,050	$1,995
Lakeview, Chicago, IL	$1,345	$1,850	$2,568	$2,094
Hyde Park, Chicago, IL	$1,250	$1,673	$2,000	$2,200
DePaul, Chicago, IL	$1,595	$2,245	$2,375	$2,300
Near North Side, Chicago, IL	$1,860	$2,350	$3,500	$2,555
The Loop, Chicago, IL	N/A	$2,475	$3,300	$2,788

Top Counties Near South Loop

There are a total of 14 counties located by South Loop, Chicago, IL. Some of these counties include Evanston, IL, Chicago, IL, and Schaumburg, IL. The average rent for rentals in these counties is $2,100. 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 $1,998. Vice versa, with an average rent of $2,700, Naperville, IL is the most expensive county by South Loop, Chicago, IL.

Typically, rent for studios in South Loop, Chicago, IL is 64.04% more expensive than other counties nearby. In comparison, rent for one bedroom listings in South Loop, Chicago, IL is 19.10% more expensive than other counties nearby. Finally, rent for two bedrooms in South Loop, Chicago, IL is 25.68% 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	$1,998
Chicago, IL	$1,350	$1,775	$2,250	$2,005
Schaumburg, IL	$1,195	$1,985	$2,400	$2,098
Downers Grove, IL	N/A	$1,825	$2,209	$2,103
Milton, IL	N/A	$1,960	$2,320	$2,320
Naperville, IL	N/A	$1,663	$2,200	$2,700

Top Zipcodes Near South Loop

There are a total of 21 zipcodes in or near South Loop, Chicago, IL. The average rent for all of these zipcodes is $2,100. A total of 20 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 $2,900 per month is 60607, Chicago, IL.

Studios in these zipcodes have an average rent of $1,250. 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 South Loop, Chicago, IL is $1,890 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,398 per month. Which comes out to $2 per sqft. The following chart includes the top 10 zipcodes in South Loop, Chicago, IL. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
60607, Chicago, IL	$1,700	$2,398	$3,250	$2,900
60654, Chicago, IL	$1,940	$2,478	$3,500	$2,500
60611, Chicago, IL	$1,800	$2,300	$3,612	$2,600
60608, Chicago, IL	N/A	$1,375	$1,850	$2,145
60610, Chicago, IL	$1,868	$2,300	$3,500	$2,625
60642, Chicago, IL	$1,929	$2,263	$2,800	$2,700
60622, Chicago, IL	$1,893	$2,100	$2,400	$2,300
60615, Chicago, IL	$1,250	$1,573	$1,947	$2,137
60614, Chicago, IL	$1,603	$2,293	$2,851	$2,295
60647, Chicago, IL	$1,250	$1,890	$2,150	$2,100

Frequently Asked Questions - South Loop Average Rents

What is the average rent price in South Loop, Chicago, IL?

The average monthly rental price for South Loop, Chicago, IL apartments for rent is approximately $2,800. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do South Loop, 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 South Loop, Chicago, IL.

How much is a studio apartment in South Loop, Chicago, IL?

The average monthly rental price for studio apartments is $1,648 and an average price per square feet of $2.77. There are a total of 4 studio apartment listings currently available for rent in South Loop.

How much is a one bedroom apartment in South Loop, Chicago, IL?

The average monthly rental price for one bedroom apartments is $2,225 and an average price per square feet of $2.38. There are a total of 20 one bedroom apartment listings currently available for rent in South Loop.

How much is a two bedroom apartment in South Loop, Chicago, IL?

The average monthly rental price for two bedroom apartments is $3,000 and an average price per square feet of $2.43. There are a total of 40 two bedroom apartment listings currently available for rent in South Loop.

How have rent prices in South Loop, Chicago, IL changed this year?

Rent prices for rentals in South Loop, Chicago, IL can fluctuate yearly. Specifically, studio rental prices have changed by 0.00%, one bedroom rental prices have changed by -0.05%, two bedroom rental prices have changed by 0.00%, and three bedroom rental prices have changed by -0.19% year-over-year.

What is a reasonable rent price in South Loop, Chicago, IL?

A reasonable rent price in South Loop, Chicago, IL is around $2,240/month. You can search for these reasonably priced rental listings on RentHop.