Average Rent in West Loop, Chicago, IL

Current Versus Historical West Loop, Chicago, IL Rents

West Loop rentals average $2,050 for a 1-bedroom rental to $4,373 for a 3-bedroom rental. The median price of all currently available listings is $2,400, 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 $96 (4.78%) year-over-year from $1,999 to $2,094. 1-bedroom rentals prices have decreased by $7 (-0.24%) year-over-year from $2,699 to $2,692. 2-bedroom rentals prices have increased by $138 (3.88%) year-over-year from $3,562 to $3,700. 3-bedroom rentals prices have decreased by $1,140 (-20.05%) year-over-year from $5,686 to $4,546. 4-bedroom rentals prices have increased by $0 (0.00%) year-over-year from $4,195 to $4,195. 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 19.74% this month. 1-bedroom rents have gone up by 12.92% this month. 2-bedroom rents have gone up by 11.50% this month. 3-bedroom rents have gone down by 7.78% this month. 4-bedroom rents have gone down by 0.00% this month.

Beds	Price / Sqft	May 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
1 BR	$2.80	$2,692	$2,699 (-0.24%)	$2,010 (33.96%)
2 BR	$2.69	$3,700	$3,562 (3.88%)	$2,767 (33.73%)
3 BR	$2.47	$4,546	$5,686 (-20.05%)	$5,703 (-20.28%)

Historical Rents in West Loop, Chicago, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near West Loop

There are a total of 6 cities nearby West Loop. The average rent in West Loop is currently $2,226 per month. A total of 5 cities nearby have an average rent lower than that. Our records show that Chicago, IL, with an average rent of $2,097, is the most affordable city nearby. In contrast, the most expensive city near West Loop, Chicago, IL is Naperville, IL. Monthly rents here are on average $2,770 per month.

Let's compare West Loop, Chicago, IL's rent against other top cities nearby by bedroom size. One bedrooms are about 15.98% more expensive. Two bedrooms in West Loop, Chicago, IL are about 32.18% more expensive. Finally, rent for three bedrooms are about 36.92% more expensive. Want more information? Check out the top 6 cities near West Loop, Chicago, IL in the following chart.

City	Studio	1 Bed	2 Bed	All
Chicago, IL	$1,300	$1,745	$2,350	$2,097
Evanston, IL	$1,043	$1,700	$2,150	$2,145
Schaumburg, IL	N/A	$1,995	$2,350	$2,195
Wheaton, IL	N/A	$1,923	$2,310	$2,257
Aurora, IL	N/A	$1,300	$2,050	$2,325
Naperville, IL	N/A	$1,650	$2,200	$2,770

Top Neighborhoods Near West Loop

There are a total of 15 neighborhoods in or near West Loop. Some of these neighborhoods include Edgewater, Rogers Park, and Albany Park. We've included all of these top 15 neighborhoods in or near West Loop, Chicago, IL in the following chart.

The average rent for these 15 neighborhoods in or near West Loop, Chicago, IL is currently around $2,000 per month. A total of 12 neighborhoods have a lower average rent. Meaning, only three neighborhoods have a higher average rent than $2,000. Out of all the neighborhoods in or near West Loop, Edgewater has the most affordable average rent at $1,550 per month. Whereas, at $3,000 average rent per month, Near North Side is the most expensive neighborhood in or near West Loop. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Edgewater, Chicago, IL	$1,132	$1,550	$2,150	$1,550
Rogers Park, Chicago, IL	$1,150	$1,400	$1,850	$1,600
Albany Park, Chicago, IL	$1,045	$1,420	$1,863	$1,650
Uptown, Chicago, IL	$1,150	$1,625	$2,600	$1,695
West Rogers Park, Chicago, IL	$1,200	$1,350	$1,800	$1,695
Ravenswood, Chicago, IL	$1,220	$1,623	$2,650	$1,775
Logan Square, Chicago, IL	$1,250	$1,795	$2,000	$1,950
Humboldt Park, Chicago, IL	$2,100	$1,450	$1,825	$2,000
Lakeview, Chicago, IL	$1,463	$1,934	$2,595	$2,100
Lincoln Park, Chicago, IL	$1,450	$1,875	$3,050	$2,200
Hyde Park, Chicago, IL	$1,275	$1,650	$1,875	$2,299
DePaul, Chicago, IL	$1,670	$2,295	$2,400	$2,395
The Loop, Chicago, IL	N/A	$2,500	$3,325	$2,700
South Loop, Chicago, IL	N/A	$2,248	$3,000	$2,900
Near North Side, Chicago, IL	$1,775	$2,399	$3,600	$3,000

Top Counties Near West Loop

There are a total of 15 counties located by West Loop, Chicago, IL. Some of these counties include Chicago, IL, Schaumburg, IL, and Evanston, IL. The average rent for rentals in these counties is $2,169. 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 $2,097. Vice versa, with an average rent of $2,500, Naperville, IL is the most expensive county by West Loop, Chicago, IL.

In comparison, rent for one bedroom listings in West Loop, Chicago, IL is 13.00% more expensive than other counties nearby. Finally, rent for two bedrooms in West Loop, Chicago, IL is 32.57% 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	$1,300	$1,745	$2,350	$2,097
Schaumburg, IL	N/A	$1,995	$2,350	$2,138
Evanston, IL	$1,043	$1,700	$2,150	$2,145
Downers Grove, IL	N/A	$1,822	$2,209	$2,193
Milton, IL	N/A	$1,900	$2,275	$2,257
Naperville, IL	N/A	$1,663	$2,198	$2,500

Top Zipcodes Near West Loop

There are a total of 21 zipcodes in or near West Loop, Chicago, IL. The average rent for all of these zipcodes is $2,095. 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 $1,500 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 $1,250. 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 West Loop, Chicago, IL is $1,848 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,475 per month. Which comes out to $2 per sqft. The following chart includes the top 10 zipcodes in West 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	$1,594	$2,350	$3,275	$3,048
60605, Chicago, IL	N/A	$2,300	$3,014	$2,782
60611, Chicago, IL	$1,835	$2,500	$3,667	$3,500
60610, Chicago, IL	$1,763	$2,300	$3,600	$2,713
60642, Chicago, IL	$1,929	$2,300	$2,800	$2,603
60608, Chicago, IL	N/A	$1,450	$1,850	$2,000
60622, Chicago, IL	$1,890	$2,100	$2,495	$2,500
60614, Chicago, IL	$1,630	$2,200	$2,958	$2,393
60647, Chicago, IL	$1,250	$1,848	$2,163	$2,075
60657, Chicago, IL	$1,475	$1,940	$2,650	$2,095

Frequently Asked Questions - West Loop Average Rents

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

The average monthly rental price for West Loop, Chicago, IL apartments for rent is approximately $2,400. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do West 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 West Loop, Chicago, IL.

How much is a studio apartment in West 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 0 studio apartment listings currently available for rent in West Loop.

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

The average monthly rental price for one bedroom apartments is $2,050 and an average price per square feet of $2.80. There are a total of 11 one bedroom apartment listings currently available for rent in West Loop.

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

The average monthly rental price for two bedroom apartments is $3,325 and an average price per square feet of $2.69. There are a total of 2 two bedroom apartment listings currently available for rent in West Loop.

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

Rent prices for rentals in West Loop, Chicago, IL can fluctuate yearly. Specifically, studio rental prices have changed by 0.05%, one bedroom rental prices have changed by 0.00%, two bedroom rental prices have changed by 0.04%, and three bedroom rental prices have changed by -0.20% year-over-year.

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

A reasonable rent price in West Loop, Chicago, IL is around $1,920/month. You can search for these reasonably priced rental listings on RentHop.