Average Rent in The Loop, Chicago, IL

Current Versus Historical The Loop, Chicago, IL Rents

The Loop rentals average $1,825 for a studio rental to $8,300 for a 4-bedroom rental. The median price of all currently available listings is $2,700, or roughly $3 per square feet.

For the apartment units and housing in May 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $41 (2.12%) year-over-year from $1,919 to $1,960. 1-bedroom rentals prices have increased by $10 (0.40%) year-over-year from $2,376 to $2,385. 2-bedroom rentals prices have decreased by $52 (-1.48%) year-over-year from $3,502 to $3,450. 3-bedroom rentals prices have increased by $26 (0.43%) year-over-year from $5,947 to $5,972. 4-bedroom rentals prices have increased by $2,033 (32.45%) year-over-year from $6,267 to $8,300. 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 7.74% this month. 1-bedroom rents have gone up by 3.76% this month. 2-bedroom rents have gone up by 3.76% this month. 3-bedroom rents have gone up by 6.88% this month. 4-bedroom rents have gone down by 8.79% this month.

Beds	Price / Sqft	May 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.49	$1,960	$1,919 (2.12%)	$1,680 (16.69%)
1 BR	$2.94	$2,385	$2,376 (0.40%)	$2,144 (11.26%)
2 BR	$2.66	$3,450	$3,502 (-1.48%)	$2,930 (17.76%)
3 BR	$3.97	$5,972	$5,947 (0.43%)	$5,048 (18.31%)
4+ BR	$3.33	$8,300	$6,267 (32.45%)	$7,508 (10.54%)

Historical Rents in The Loop, Chicago, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near The Loop

There are a total of 6 cities nearby The Loop. The average rent in The Loop is currently $2,225 per month. A total of 5 cities nearby have an average rent lower than that. Our records show that Willowbrook, IL, with an average rent of $2,080, is the most affordable city nearby. In contrast, the most expensive city near The Loop, Chicago, IL is Naperville, IL. Monthly rents here are on average $2,800 per month.

Let's compare The Loop, Chicago, IL's rent against other top cities nearby by bedroom size. One bedrooms are about 25.54% more expensive. Two bedrooms in The Loop, Chicago, IL are about 28.91% more expensive. Finally, rent for three bedrooms are about 56.85% more expensive. Want more information? Check out the top 6 cities near The Loop, Chicago, IL in the following chart.

City	Studio	1 Bed	2 Bed	All
Willowbrook, IL	N/A	$1,828	$2,218	$2,080
Schaumburg, IL	N/A	$1,995	$2,464	$2,150
Chicago, IL	$1,383	$1,895	$2,495	$2,200
Wheaton, IL	N/A	$1,960	$2,275	$2,250
Aurora, IL	N/A	$1,348	$2,100	$2,285
Naperville, IL	N/A	$1,488	$2,275	$2,800

Top Neighborhoods Near The Loop

There are a total of 7 neighborhoods in or near The Loop. Some of these neighborhoods include Rogers Park, Uptown, and Logan Square. We've included all of these top 7 neighborhoods in or near The Loop, Chicago, IL in the following chart.

The average rent for these 7 neighborhoods in or near The Loop, Chicago, IL is currently around $2,145 per month. A total of 5 neighborhoods have a lower average rent. Meaning, only two neighborhoods have a higher average rent than $2,145. Out of all the neighborhoods in or near The Loop, Rogers Park has the most affordable average rent at $1,535 per month. Whereas, at $3,111 average rent per month, Near North Side is the most expensive neighborhood in or near The Loop. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Rogers Park, Chicago, IL	$1,100	$1,300	$1,750	$1,535
Uptown, Chicago, IL	$1,325	$1,695	$2,600	$1,695
Logan Square, Chicago, IL	$1,150	$1,800	$2,000	$2,000
Lakeview, Chicago, IL	$1,495	$1,900	$2,750	$2,145
Hyde Park, Chicago, IL	$1,250	$1,673	$1,875	$2,250
South Loop, Chicago, IL	N/A	$2,200	$3,000	$2,817
Near North Side, Chicago, IL	$1,763	$2,455	$3,700	$3,111

Top Counties Near The Loop

There are a total of 7 counties located by The Loop, Chicago, IL. Some of these counties include Schaumburg, IL, Downers Grove, IL, and Chicago, IL. The average rent for rentals in these counties is $2,200. 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 Schaumburg, IL. It's average rent per month is $2,138. Vice versa, with an average rent of $2,623, Naperville, IL is the most expensive county by The Loop, Chicago, IL.

In comparison, rent for one bedroom listings in The Loop, Chicago, IL is 24.20% more expensive than other counties nearby. Finally, rent for two bedrooms in The Loop, Chicago, IL is 29.69% more expensive than other counties nearby. We've listed the top 5 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Schaumburg, IL	N/A	$1,995	$2,464	$2,138
Downers Grove, IL	N/A	$1,828	$2,218	$2,188
Chicago, IL	$1,383	$1,895	$2,495	$2,200
Milton, IL	N/A	$1,960	$2,250	$2,250
Naperville, IL	N/A	$1,535	$2,198	$2,623

Top Zipcodes Near The Loop

There are a total of 18 zipcodes in or near The Loop, Chicago, IL. The average rent for all of these zipcodes is $2,216. 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 60626, Chicago, IL at $1,475 per month. In comparison, the zipcode with the most expensive average rent of $3,500 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 The Loop, Chicago, IL is $1,933 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,481 per month. Which comes out to $2 per sqft. The following chart includes the top 10 zipcodes in The Loop, Chicago, IL. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
60611, Chicago, IL	$1,850	$2,500	$3,850	$3,500
60605, Chicago, IL	N/A	$2,298	$3,150	$2,755
60607, Chicago, IL	$1,594	$2,375	$3,100	$2,975
60610, Chicago, IL	$1,713	$2,240	$3,500	$3,000
60642, Chicago, IL	$1,929	$2,425	$2,500	$2,645
60614, Chicago, IL	$1,560	$2,250	$3,350	$2,600
60608, Chicago, IL	N/A	$1,688	$2,025	$2,150
60622, Chicago, IL	N/A	$2,025	$2,463	$2,898
60657, Chicago, IL	$1,495	$1,900	$2,800	$2,095
60647, Chicago, IL	$1,150	$1,800	$2,125	$2,088

Frequently Asked Questions - The Loop Average Rents

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

The average monthly rental price for The Loop, Chicago, IL apartments for rent is approximately $2,700. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do The 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 The Loop, Chicago, IL.

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

The average monthly rental price for studio apartments is $1,825 and an average price per square feet of $3.49. There are a total of 2 studio apartment listings currently available for rent in The Loop.

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

The average monthly rental price for one bedroom apartments is $2,500 and an average price per square feet of $2.94. There are a total of 25 one bedroom apartment listings currently available for rent in The Loop.

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

The average monthly rental price for two bedroom apartments is $3,200 and an average price per square feet of $2.66. There are a total of 17 two bedroom apartment listings currently available for rent in The Loop.

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

Rent prices for rentals in The Loop, Chicago, IL can fluctuate yearly. Specifically, studio rental prices have changed by 0.02%, one bedroom rental prices have changed by 0.00%, two bedroom rental prices have changed by -0.01%, and three bedroom rental prices have changed by 0.00% year-over-year.

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

A reasonable rent price in The Loop, Chicago, IL is around $2,160/month. You can search for these reasonably priced rental listings on RentHop.