Average Rent in West Loop, Chicago, IL

Current Versus Historical West Loop, Chicago, IL Rents

West Loop rentals average $2,400 for a 1-bedroom rental to $0 for a 3-bedroom rental. The median price of all currently available listings is $2,684, or roughly $3 per square feet.

For the apartment units and housing in April 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $295 (-15.38%) year-over-year from $1,920 to $1,625. 1-bedroom rentals prices have decreased by $109 (-4.18%) year-over-year from $2,597 to $2,489. 2-bedroom rentals prices have increased by $342 (10.17%) year-over-year from $3,358 to $3,700. 3-bedroom rentals prices have decreased by $1,187 (-20.70%) year-over-year from $5,733 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 4.78% this month. 1-bedroom rents have gone up by 8.22% this month. 2-bedroom rents have gone up by 13.21% this month. 3-bedroom rents have gone down by 15.01% this month. 4-bedroom rents have gone down by 0.00% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
1 BR	$2.85	$2,489	$2,597 (-4.18%)	$2,000 (24.44%)
2 BR	$2.43	$3,700	$3,358 (10.17%)	$2,693 (37.38%)

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 $2,225 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 West Loop, Chicago, IL is Naperville, IL. Monthly rents here are on average $2,850 per month.

Let's compare West Loop, Chicago, IL's rent against other top cities nearby by bedroom size. One bedrooms are about 28.33% more expensive. Two bedrooms in West Loop, Chicago, IL are about 23.73% more expensive. Finally, rent for three bedrooms are about inf% more affordable. 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
Evanston, IL	$1,185	$1,650	$2,150	$1,955
Chicago, IL	$1,350	$1,790	$2,300	$2,043
Schaumburg, IL	N/A	$1,995	$2,350	$2,100
Wheaton, IL	N/A	$1,965	$2,350	$2,350
Aurora, IL	N/A	$1,300	$2,000	$2,373
Naperville, IL	N/A	$1,650	$2,200	$2,850

Top Neighborhoods Near West Loop

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

The average rent for these 13 neighborhoods in or near West Loop, Chicago, IL is currently around $1,850 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 West Loop, Edgewater has the most affordable average rent at $1,550 per month. Whereas, at $2,809 average rent per month, South Loop 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	$1,120	$1,550	$2,200	$1,550
Uptown, Chicago, IL	$1,100	$1,600	$2,595	$1,600
Rogers Park, Chicago, IL	$1,125	$1,375	$1,850	$1,600
Ravenswood, Chicago, IL	$1,210	$1,595	$2,650	$1,648
West Rogers Park, Chicago, IL	$1,200	$1,350	$1,800	$1,698
Albany Park, Chicago, IL	$1,048	$1,420	$1,925	$1,800
Lincoln Park, Chicago, IL	$1,390	$1,875	$2,795	$1,850
Logan Square, Chicago, IL	$1,250	$1,795	$2,000	$1,895
Lakeview, Chicago, IL	$1,345	$1,895	$2,590	$2,095
Hyde Park, Chicago, IL	$1,250	$1,695	$1,899	$2,325
DePaul, Chicago, IL	$1,665	$2,290	$2,400	$2,395
Near North Side, Chicago, IL	$1,855	$2,399	$3,500	$2,583
South Loop, Chicago, IL	$1,575	$2,248	$3,000	$2,809

Top Counties Near West Loop

There are a total of 13 counties located by West Loop, Chicago, IL. Some of these counties include Evanston, IL, Chicago, IL, and Schaumburg, IL. The average rent for rentals in these counties is $2,141. 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 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 West Loop, Chicago, IL.

In comparison, rent for one bedroom listings in West Loop, Chicago, IL is 24.63% more expensive than other counties nearby. Finally, rent for two bedrooms in West Loop, Chicago, IL is 23.73% 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	$1,955
Chicago, IL	$1,350	$1,790	$2,300	$2,043
Schaumburg, IL	N/A	$1,995	$2,350	$2,093
Downers Grove, IL	N/A	$1,828	$2,200	$2,188
Milton, IL	N/A	$1,965	$2,320	$2,350
Naperville, IL	N/A	$1,663	$2,200	$2,700

Top Zipcodes Near West Loop

There are a total of 20 zipcodes in or near West Loop, Chicago, IL. The average rent for all of these zipcodes is $2,062. A total of 18 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 60640, Chicago, IL at $1,550 per month. In comparison, the zipcode with the most expensive average rent of $2,800 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 West Loop, Chicago, IL is $1,773 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $2,394 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
60654, Chicago, IL	$1,945	$2,500	$3,550	$2,500
60611, Chicago, IL	$1,798	$2,305	$3,650	$2,800
60610, Chicago, IL	$1,855	$2,300	$3,450	$2,650
60642, Chicago, IL	$1,929	$2,300	$2,850	$2,700
60608, Chicago, IL	N/A	$1,375	$1,850	$2,075
60622, Chicago, IL	$1,893	$2,100	$2,438	$2,438
60614, Chicago, IL	$1,660	$2,295	$2,873	$2,390
60647, Chicago, IL	$1,250	$1,845	$2,123	$2,000
60657, Chicago, IL	$1,345	$1,900	$2,625	$2,077
60613, Chicago, IL	$1,298	$1,700	$2,550	$1,940

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 $2,684. 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 $2,400 and an average price per square feet of $2.85. There are a total of 13 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 $2,950 and an average price per square feet of $2.43. There are a total of 3 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 -0.15%, one bedroom rental prices have changed by -0.04%, two bedroom rental prices have changed by 0.10%, and three bedroom rental prices have changed by -0.21% 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 $2,147/month. You can search for these reasonably priced rental listings on RentHop.