Average Rent in South Loop, Chicago, IL

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Current Versus Historical South Loop, Chicago, IL Rents

South Loop rentals average $1,775 for a studio rental to $7,500 for a 4-bedroom rental. The median price of all currently available listings is $2,700, 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 decreased by $70 (-4.05%) year-over-year from $1,731 to $1,661. 1-bedroom rentals prices have increased by $19 (0.89%) year-over-year from $2,131 to $2,150. 2-bedroom rentals prices have decreased by $26 (-0.90%) year-over-year from $2,899 to $2,873. 3-bedroom rentals prices have decreased by $968 (-21.19%) year-over-year from $4,568 to $3,600. 4-bedroom rentals prices have decreased by $1,992 (-23.45%) year-over-year from $8,492 to $6,500. 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 down by 22.56% this month. 1-bedroom rents have gone down by 10.60% this month. 2-bedroom rents have gone down by 7.55% this month. 3-bedroom rents have gone down by 10.65% this month. 4-bedroom rents have gone down by 19.25% this month.

Beds	Price / Sqft	Dec 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$2.73	$1,661	$1,731 (-4.05%)	$1,738 (-4.42%)
1 BR	$2.54	$2,150	$2,131 (0.89%)	$2,065 (4.10%)
2 BR	$2.47	$2,873	$2,899 (-0.90%)	$2,777 (3.44%)
3 BR	$2.17	$3,600	$4,568 (-21.19%)	$3,480 (3.45%)
4+ BR	$2.43	$6,500	$8,492 (-23.45%)	$10,647 (-38.95%)

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 7 cities nearby South Loop. The average rent in South Loop is currently $2,400 per month. A total of 6 cities nearby have an average rent lower than that. Our records show that Chicago, IL, with an average rent of $2,175, 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 $2,730 per month.

Let's compare South Loop, Chicago, IL's rent against other top cities nearby by bedroom size. One bedrooms are about 15.50% more expensive. Two bedrooms in South Loop, Chicago, IL are about 18.97% more expensive. Finally, rent for three bedrooms are about 23.65% more expensive. Want more information? Check out the top 7 cities near South Loop, Chicago, IL in the following chart.

City	Studio	1 Bed	2 Bed	All
Chicago, IL	$1,395	$1,895	$2,250	$2,175
Schaumburg, IL	N/A	$2,186	$2,350	$2,253
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	$2,560
Oak Park, IL	N/A	$1,600	$2,650	$2,650
Evanston, IL	N/A	$2,100	$2,700	$2,730

Top Neighborhoods Near South Loop

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

The average rent for these 15 neighborhoods in or near South Loop, Chicago, IL is currently around $2,200 per month. A total of 11 neighborhoods have a lower average rent. Meaning, only four neighborhoods have a higher average rent than $2,200. Out of all the neighborhoods in or near South Loop, 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 South Loop. 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	$1,650	$2,233	$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
Woodlawn, Chicago, IL	N/A	$1,700	$1,675	$2,200
West Rogers Park, Chicago, IL	N/A	$1,675	$1,925	$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
Near West Side, Chicago, IL	N/A	$2,423	$2,900	$2,750
West Town, Chicago, IL	$2,413	$2,600	$2,842	$2,863
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 South Loop

There are a total of 15 counties located by South Loop, 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 8 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 South Loop, Chicago, IL.

In comparison, rent for one bedroom listings in South Loop, Chicago, IL is 15.50% more expensive than other counties nearby. Finally, rent for two bedrooms in South Loop, Chicago, IL is 20.69% more expensive 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 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 $2,049. 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 60618, Chicago, IL at $2,000 per month. In comparison, the zipcode with the most expensive average rent of $2,125 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 South Loop, 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 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	$1,460	$1,910	$2,098
60618, Chicago, IL	$1,695	$1,700	$1,995	$2,000
60641, Chicago, IL	$948	$1,450	$1,750	$2,000
60625, Chicago, IL	$1,548	$1,338	$2,050	$2,125

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 $2,700. 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 $1,775 and an average price per square feet of $2.73. There are a total of 6 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 $2,200 and an average price per square feet of $2.54. There are a total of 47 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 $2,900 and an average price per square feet of $2.47. There are a total of 81 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 -0.04%, one bedroom rental prices have changed by 0.01%, two bedroom rental prices have changed by -0.01%, and three bedroom rental prices have changed by -0.21% 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 $2,160/month. You can search for these reasonably priced rental listings on RentHop.