Average Rent in Chicago, IL

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Current Versus Historical Chicago, IL Rents

Chicago rentals average $1,395 for a studio rental to $3,395 for a 4-bedroom rental. The median price of all currently available listings is $2,175, or roughly $2 per square feet.

For the apartment units and housing in December 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $43 (3.15%) year-over-year from $1,354 to $1,397. 1-bedroom rentals prices have decreased by $48 (-2.55%) year-over-year from $1,898 to $1,850. 2-bedroom rentals prices have decreased by $212 (-8.51%) year-over-year from $2,496 to $2,284. 3-bedroom rentals prices have decreased by $215 (-7.91%) year-over-year from $2,715 to $2,500. 4-bedroom rentals prices have increased by $416 (13.77%) year-over-year from $3,019 to $3,435. 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 9.81% this month. 1-bedroom rents have gone down by 8.92% this month. 2-bedroom rents have gone down by 3.95% this month. 3-bedroom rents have gone down by 7.48% this month. 4-bedroom rents have gone down by 1.72% this month.

Beds	Price / Sqft	Dec 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.24	$1,397	$1,354 (3.15%)	$1,283 (8.87%)
1 BR	$2.70	$1,850	$1,898 (-2.55%)	$1,708 (8.32%)
2 BR	$2.18	$2,284	$2,496 (-8.51%)	$1,868 (22.29%)
3 BR	$1.80	$2,500	$2,715 (-7.91%)	$2,120 (17.93%)
4+ BR	$1.75	$3,435	$3,019 (13.77%)	$2,733 (25.67%)

Historical Rents in Chicago, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Chicago

There are a total of 6 cities nearby Chicago. The average rent in Chicago is currently $2,500 per month. Our records show that Schaumburg, IL, with an average rent of $2,270, is the most affordable city nearby. In contrast, the most expensive city near Chicago, IL is Evanston, IL. Monthly rents here are on average $2,730 per month.

Let's compare Chicago, IL's rent against other top cities nearby by bedroom size. One bedrooms are about 8.73% more expensive. Two bedrooms in Chicago, IL are about 11.11% more affordable. Finally, rent for three bedrooms are about 15.50% more affordable. Want more information? Check out the top 6 cities near Chicago, IL in the following chart.

City	Studio	1 Bed	2 Bed	All
Schaumburg, IL	N/A	$2,186	$2,350	$2,270
Wheaton, IL	N/A	$1,859	$2,699	$2,271
Aurora, IL	N/A	$1,523	$2,275	$2,400
Naperville, IL	N/A	$1,490	$2,250	$2,600
Oak Park, IL	N/A	$1,600	$2,650	$2,650
Evanston, IL	N/A	$2,100	$2,700	$2,730

Top Neighborhoods Near Chicago

There are a total of 16 neighborhoods in or near Chicago. Some of these neighborhoods include South Shore, Uptown, and Rogers Park. We've included all of these top 16 neighborhoods in or near Chicago, IL in the following chart.

The average rent for these 16 neighborhoods in or near Chicago, IL is currently around $2,213 per month. A total of 6 neighborhoods have a lower average rent. Meaning, only ten neighborhoods have a higher average rent than $2,213. Interestingly, the neighborhoods' average rent is higher than Chicago's average rent, which is only $2,175. Out of all the neighborhoods in or near Chicago, South Shore has the most affordable average rent at $1,250 per month. Whereas, at $3,100 average rent per month, The Loop is the most expensive neighborhood in or near Chicago. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
South Shore, Chicago, IL	$1,018	$1,175	$1,238	$1,250
Uptown, Chicago, IL	$1,198	$1,646	$2,324	$1,650
Rogers Park, Chicago, IL	$1,200	$1,525	$1,900	$1,650
Edgewater, Chicago, IL	$1,325	$1,675	$2,198	$1,800
Humboldt Park, Chicago, IL	N/A	$2,150	$1,600	$1,900
Pilsen, Chicago, IL	N/A	$1,450	$1,595	$2,100
West Rogers Park, Chicago, IL	N/A	$1,675	$1,925	$2,200
Woodlawn, Chicago, IL	N/A	$1,700	$1,675	$2,200
Bronzeville, Chicago, IL	N/A	$1,900	$2,200	$2,227
Logan Square, Chicago, IL	$1,600	$2,100	$2,150	$2,295
Lakeview, Chicago, IL	$1,594	$1,900	$2,798	$2,450
South Loop, Chicago, IL	$1,775	$2,200	$2,900	$2,700
Near West Side, Chicago, IL	N/A	$2,423	$2,900	$2,750
West Town, Chicago, IL	$2,413	$2,600	$2,846	$2,875
Near North Side, Chicago, IL	$1,785	$2,400	$3,795	$2,900
The Loop, Chicago, IL	$2,000	$2,300	$3,200	$3,100

Top Counties Near Chicago

There are a total of 16 counties located by Chicago, IL. Some of these counties include Chicago, IL, Downers Grove, IL, and Schaumburg, IL. The average rent for rentals in these counties is $2,450. That's roughly around $2 per sqft. A total of 1 counties have a lower average rent. The county that is the most affordable is Chicago, IL. It's average rent per month is $2,175. Vice versa, with an average rent of $2,730, Evanston, IL is the most expensive county by Chicago, IL.

In comparison, rent for one bedroom listings in Chicago, IL is 1.90% more expensive than other counties nearby. Finally, rent for two bedrooms in Chicago, IL is 2.22% more affordable than other counties nearby. We've listed the top 9 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Chicago, IL	$1,395	$1,895	$2,250	$2,175
Downers Grove, IL	N/A	$1,850	$2,210	$2,208
Schaumburg, IL	N/A	$2,127	$2,195	$2,250
Milton, IL	N/A	$1,859	$2,300	$2,260
Naperville, IL	N/A	N/A	$2,300	$2,450
Libertyville, IL	N/A	$1,966	$2,300	$2,500
Leyden, IL	N/A	$1,450	$2,550	$2,550
Oak Park, IL	N/A	$1,600	$2,650	$2,650
Evanston, IL	N/A	$2,100	$2,700	$2,730

Top Zipcodes Near Chicago

There are a total of 4 zipcodes in or near Chicago, IL. The average rent for all of these zipcodes is $2,073. A total of 4 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 $2,000 per month. In comparison, the zipcode with the most expensive average rent of $2,150 per month is 60625, Chicago, IL.

Studios in these zipcodes have an average rent of $1,399. That's at least $2 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Chicago, IL is $1,455 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,953 per month. Which comes out to $2 per sqft. The following chart includes the top 4 zipcodes in Chicago, IL. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
60618, Chicago, IL	$1,695	$1,700	$1,995	$2,048
60615, Chicago, IL	$1,250	$1,460	$1,910	$2,098
60625, Chicago, IL	$1,548	$1,338	$2,050	$2,150
60641, Chicago, IL	$948	$1,450	$1,750	$2,000

Frequently Asked Questions - Chicago Average Rents

What is the average rent price in Chicago, IL?

The average monthly rental price for Chicago, IL apartments for rent is approximately $2,175. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do 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 Chicago, IL.

How much is a studio apartment in Chicago, IL?

The average monthly rental price for studio apartments is $1,395 and an average price per square feet of $3.24. There are a total of 298 studio apartment listings currently available for rent in Chicago.

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

The average monthly rental price for one bedroom apartments is $1,895 and an average price per square feet of $2.70. There are a total of 877 one bedroom apartment listings currently available for rent in Chicago.

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

The average monthly rental price for two bedroom apartments is $2,250 and an average price per square feet of $2.18. There are a total of 1,380 two bedroom apartment listings currently available for rent in Chicago.

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

Rent prices for rentals in Chicago, IL can fluctuate yearly. Specifically, studio rental prices have changed by 0.03%, one bedroom rental prices have changed by -0.03%, two bedroom rental prices have changed by -0.09%, and three bedroom rental prices have changed by -0.08% year-over-year.

What is a reasonable rent price in Chicago, IL?

A reasonable rent price in Chicago, IL is around $1,740/month. You can search for these reasonably priced rental listings on RentHop.