Average Rent in The Loop, Chicago, IL

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Current Versus Historical The Loop, Chicago, IL Rents

The Loop rentals average $0 for a studio rental to $10,000 for a 4-bedroom rental. The median price of all currently available listings is $2,775, or roughly $3 per square feet.
For the apartment units and housing in April 2024, median rents have fallenover the last year. Studio rentals prices have decreased by $101 (-5.00%) year-over-year from $2,010 to $1,910. 1-bedroom rentals prices have decreased by $177 (-7.17%) year-over-year from $2,472 to $2,295. 2-bedroom rentals prices have decreased by $142 (-3.99%) year-over-year from $3,567 to $3,425. 3-bedroom rentals prices have decreased by $885 (-14.08%) year-over-year from $6,285 to $5,400. 4-bedroom rentals prices have increased by $3,050 (43.88%) year-over-year from $6,950 to $10,000. 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 8.92% this month. 1-bedroom rents have gone up by 2.32% this month. 2-bedroom rents have gone up by 3.27% this month. 3-bedroom rents have gone up by 0.06% this month. 4-bedroom rents have gone down by 21.05% this month.
Beds
Price / Sqft
Apr 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
1 BR $2.99 $2,295 $2,472 (-7.17%) $2,059 (11.47%)
2 BR $2.68 $3,425 $3,567 (-3.99%) $2,837 (20.74%)
3 BR $3.92 $5,400 $6,285 (-14.08%) $5,128 (5.30%)
4+ BR $3.87 $10,000 $6,950 (43.88%) $9,575 (4.44%)

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 $2,210 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 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 31.20% more expensive. Two bedrooms in The Loop, Chicago, IL are about 31.82% more expensive. Finally, rent for three bedrooms are about 56.10% 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
Evanston, IL $1,185 $1,595 $2,150 $1,955
Chicago, IL $1,350 $1,790 $2,300 $2,023
Schaumburg, IL N/A $1,995 $2,350 $2,100
Wheaton, IL N/A $1,960 $2,320 $2,320
Aurora, IL N/A $1,300 $2,000 $2,398
Naperville, IL N/A $1,650 $2,200 $2,800

Top Neighborhoods Near The Loop

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

The average rent for these 13 neighborhoods in or near The Loop, Chicago, IL is currently around $1,863 per month. A total of 12 neighborhoods have a lower average rent. Meaning, only a single neighborhood out of these neighborhoods has a higher average rent. Out of all the neighborhoods in or near The Loop, 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 The Loop. 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 $1,150 $1,350 $1,850 $1,600
Ravenswood, Chicago, IL $1,210 $1,595 $2,900 $1,635
West Rogers Park, Chicago, IL $1,200 $1,350 $1,800 $1,700
Albany Park, Chicago, IL $1,048 $1,420 $1,900 $1,775
Lincoln Park, Chicago, IL $1,390 $1,925 $2,795 $1,863
Logan Square, Chicago, IL $1,250 $1,795 $2,050 $1,900
Lakeview, Chicago, IL $1,343 $1,895 $2,590 $2,094
Hyde Park, Chicago, IL $1,250 $1,698 $1,887 $2,198
DePaul, Chicago, IL $1,665 $2,290 $2,400 $2,395
Near North Side, Chicago, IL $1,860 $2,399 $3,500 $2,569
South Loop, Chicago, IL $1,700 $2,200 $3,000 $2,800

Top Counties Near The Loop

There are a total of 13 counties located by The Loop, Chicago, IL. Some of these counties include Evanston, IL, Chicago, IL, and Schaumburg, IL. The average rent for rentals in these counties is $2,142. 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 $2,700, 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 27.64% more expensive than other counties nearby. Finally, rent for two bedrooms in The Loop, Chicago, IL is 31.82% 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 $1,595 $2,150 $1,955
Chicago, IL $1,350 $1,790 $2,300 $2,023
Schaumburg, IL N/A $1,995 $2,350 $2,095
Downers Grove, IL N/A $1,828 $2,200 $2,188
Milton, IL N/A $1,960 $2,320 $2,320
Naperville, IL N/A $1,663 $2,175 $2,700

Top Zipcodes Near The Loop

There are a total of 21 zipcodes in or near The Loop, Chicago, IL. The average rent for all of these zipcodes is $2,075. 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 $3,148 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 The Loop, Chicago, IL is $1,850 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,438 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
60654, Chicago, IL $1,945 $2,500 $3,550 $2,500
60611, Chicago, IL $1,800 $2,305 $3,650 $2,725
60607, Chicago, IL $1,700 $2,400 $3,275 $3,148
60610, Chicago, IL $1,860 $2,300 $3,450 $2,658
60642, Chicago, IL $1,929 $2,225 $2,850 $2,700
60614, Chicago, IL $1,663 $2,295 $2,862 $2,300
60608, Chicago, IL N/A $1,375 $1,850 $2,075
60622, Chicago, IL $1,893 $2,100 $2,438 $2,438
60657, Chicago, IL $1,345 $1,900 $2,600 $2,077
60647, Chicago, IL $1,250 $1,850 $2,150 $2,045

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 $2,775. 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 $0 and an average price per square feet of $0.00. There are a total of 1 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 $2.99. There are a total of 23 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 $3,300 and an average price per square feet of $2.68. There are a total of 19 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 -0.05%, one bedroom rental prices have changed by -0.07%, two bedroom rental prices have changed by -0.04%, and three bedroom rental prices have changed by -0.14% 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 $2,220/month. You can search for these reasonably priced rental listings on RentHop.
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