Average Rent in South Loop, Chicago, IL

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Current Versus Historical South Loop, Chicago, IL Rents

South Loop rentals average $1,650 for a studio rental to $7,500 for a 4-bedroom rental. The median price of all currently available listings is $2,665, or roughly $3 per square feet.

For the apartment units and housing in November 2024, median rents have risen substantially over the last year. Studio rentals prices have increased by $1,359 (81.07%) year-over-year from $1,676 to $3,035. 1-bedroom rentals prices have increased by $577 (27.99%) year-over-year from $2,063 to $2,640. 2-bedroom rentals prices have increased by $334 (11.81%) year-over-year from $2,827 to $3,161. 3-bedroom rentals prices have increased by $179 (4.14%) year-over-year from $4,321 to $4,500. 4-bedroom rentals prices have decreased by $150 (-1.96%) year-over-year from $7,650 to $7,500. 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 17.22% this month. 1-bedroom rents have gone up by 4.25% this month. 2-bedroom rents have gone up by 1.85% this month. 3-bedroom rents have gone up by 1.12% this month. 4-bedroom rents have gone down by 16.92% this month.

Beds	Price / Sqft	Nov 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$2.46	$3,035	$1,676 (81.07%)	$1,676 (81.11%)
1 BR	$2.51	$2,640	$2,063 (27.99%)	$2,109 (25.16%)
2 BR	$2.52	$3,161	$2,827 (11.81%)	$2,840 (11.29%)
3 BR	$2.18	$4,500	$4,321 (4.14%)	$3,957 (13.74%)
4+ BR	$2.43	$7,500	$7,650 (-1.96%)	$11,310 (-33.69%)

Historical Rents in South Loop, Chicago, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near South Loop

There are a total of 6 cities nearby South Loop. The average rent in South Loop is currently $2,550 per month. A total of 4 cities nearby have an average rent lower than that. Our records show that Chicago, IL, with an average rent of $2,100, is the most affordable city nearby. In contrast, the most expensive city near South Loop, Chicago, IL is Evanston, IL. Monthly rents here are on average $2,795 per month.

Let's compare South Loop, Chicago, IL's rent against other top cities nearby by bedroom size. One bedrooms are about 8.75% more expensive. Two bedrooms in South Loop, Chicago, IL are about 19.82% more expensive. Finally, rent for three bedrooms are about 25.23% more expensive. Want more information? Check out the top 6 cities near South Loop, Chicago, IL in the following chart.

City	Studio	1 Bed	2 Bed	All
Chicago, IL	$1,375	$1,800	$2,200	$2,100
Schaumburg, IL	N/A	$2,131	$2,290	$2,250
Aurora, IL	N/A	$1,523	$2,200	$2,450
Oak Park, IL	N/A	$1,750	$2,625	$2,650
Naperville, IL	N/A	$1,850	$2,200	$2,700
Evanston, IL	$2,306	$2,250	$2,795	$2,795

Top Neighborhoods Near South Loop

There are a total of 17 neighborhoods in or near South Loop. Some of these neighborhoods include South Shore, Uptown, and Rogers Park. We've included all of these top 17 neighborhoods in or near South Loop, Chicago, IL in the following chart.

The average rent for these 17 neighborhoods in or near South Loop, Chicago, IL is currently around $2,100 per month. A total of 12 neighborhoods have a lower average rent. Meaning, only five neighborhoods have a higher average rent than $2,100. Out of all the neighborhoods in or near South Loop, South Shore has the most affordable average rent at $1,275 per month. Whereas, at $2,950 average rent per month, Near North Side is the most expensive neighborhood in or near South Loop. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
South Shore, Chicago, IL	$1,050	$1,050	$1,230	$1,275
Uptown, Chicago, IL	$1,200	$1,600	$2,325	$1,600
Rogers Park, Chicago, IL	$1,200	$1,550	$1,895	$1,650
Edgewater, Chicago, IL	$1,298	$1,648	$2,150	$1,800
West Rogers Park, Chicago, IL	N/A	$1,625	$1,850	$2,000
Lincoln Park, Chicago, IL	$1,788	$2,190	$3,800	$2,017
Pilsen, Chicago, IL	N/A	$1,600	$1,750	$2,050
Ravenswood, Chicago, IL	$1,300	$1,800	$2,200	$2,100
Humboldt Park, Chicago, IL	N/A	$1,750	$1,750	$2,100
Bronzeville, Chicago, IL	N/A	$1,700	$2,050	$2,200
Logan Square, Chicago, IL	$1,550	$1,650	$2,200	$2,296
Lakeview, Chicago, IL	$1,500	$1,850	$2,600	$2,310
Near West Side, Chicago, IL	N/A	$2,400	$2,733	$2,750
The Loop, Chicago, IL	$1,825	$2,200	$3,000	$2,750
DePaul, Chicago, IL	$1,950	$2,496	$2,625	$2,775
West Town, Chicago, IL	$2,235	$2,480	$2,833	$2,900
Near North Side, Chicago, IL	$1,730	$2,275	$3,700	$2,950

Top Counties Near South Loop

There are a total of 17 counties located by South Loop, Chicago, IL. Some of these counties include Thornton, IL, Downers Grove, IL, and Chicago, IL. The average rent for rentals in these counties is $2,419. That's roughly around $2 per sqft. A total of 13 counties have a lower average rent. The county that is the most affordable is Thornton, IL. It's average rent per month is $1,713. Vice versa, with an average rent of $3,200, Vernon, IL is the most expensive county by South Loop, Chicago, IL.

In comparison, rent for one bedroom listings in South Loop, Chicago, IL is 19.00% more expensive than other counties nearby. Finally, rent for two bedrooms in South Loop, Chicago, IL is 18.38% more expensive than other counties nearby. We've listed the top 10 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Thornton, IL	$1,000	$1,050	$1,400	$1,713
Downers Grove, IL	N/A	$1,850	$2,060	$2,078
Chicago, IL	$1,375	$1,800	$2,200	$2,100
Proviso, IL	$1,195	$1,400	$1,700	$2,200
Milton, IL	N/A	$1,928	$2,271	$2,286
Leyden, IL	N/A	$1,350	$2,400	$2,400
Maine, IL	N/A	$1,500	$2,300	$2,400
Niles, IL	N/A	$1,400	$2,300	$2,500
Oak Park, IL	N/A	$1,750	$2,625	$2,650
Evanston, IL	$2,306	$2,250	$2,795	$2,795

Top Zipcodes Near South Loop

There are a total of 4 zipcodes in or near South Loop, Chicago, IL. The average rent for all of these zipcodes is $2,000. 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 $1,900 per month. In comparison, the zipcode with the most expensive average rent of $2,300 per month is 60615, Chicago, IL.

Studios in these zipcodes have an average rent of $1,275. 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 South Loop, Chicago, IL is $1,528 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,920 per month. Which comes out to $2 per sqft. The following chart includes the top 4 zipcodes in South Loop, Chicago, IL. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
60615, Chicago, IL	$1,250	$1,513	$1,967	$2,300
60618, Chicago, IL	$1,600	$1,700	$1,975	$2,000
60641, Chicago, IL	$1,100	$1,300	$1,750	$1,900
60625, Chicago, IL	$1,300	$1,543	$1,873	$2,000

Frequently Asked Questions - South Loop Average Rents

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

The average monthly rental price for South Loop, Chicago, IL apartments for rent is approximately $2,665. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do South 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 South Loop, Chicago, IL.

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

The average monthly rental price for studio apartments is $1,650 and an average price per square feet of $2.46. There are a total of 5 studio apartment listings currently available for rent in South Loop.

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

The average monthly rental price for one bedroom apartments is $2,000 and an average price per square feet of $2.51. There are a total of 44 one bedroom apartment listings currently available for rent in South Loop.

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

The average monthly rental price for two bedroom apartments is $2,800 and an average price per square feet of $2.52. There are a total of 65 two bedroom apartment listings currently available for rent in South Loop.

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

Rent prices for rentals in South Loop, Chicago, IL can fluctuate yearly. Specifically, studio rental prices have changed by 0.81%, one bedroom rental prices have changed by 0.28%, two bedroom rental prices have changed by 0.12%, and three bedroom rental prices have changed by 0.04% year-over-year.

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

A reasonable rent price in South Loop, Chicago, IL is around $2,132/month. You can search for these reasonably priced rental listings on RentHop.