Average Rent in South Loop, Chicago, IL

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Current Versus Historical South Loop, Chicago, IL Rents

South Loop rentals average $1,735 for a studio rental to $7,500 for a 4-bedroom rental. The median price of all currently available listings is $2,650, or roughly $2 per square feet.

For the apartment units and housing in November 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $19 (1.14%) year-over-year from $1,676 to $1,695. 1-bedroom rentals prices have decreased by $63 (-3.04%) year-over-year from $2,063 to $2,000. 2-bedroom rentals prices have decreased by $2 (-0.08%) year-over-year from $2,827 to $2,825. 3-bedroom rentals prices have decreased by $446 (-10.33%) year-over-year from $4,321 to $3,875. 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 down by 20.91% this month. 1-bedroom rents have gone down by 13.82% this month. 2-bedroom rents have gone down by 6.08% this month. 3-bedroom rents have gone down by 11.09% 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	$2.60	$1,695	$1,676 (1.14%)	$1,676 (1.16%)
1 BR	$2.51	$2,000	$2,063 (-3.04%)	$2,109 (-5.18%)
2 BR	$2.50	$2,825	$2,827 (-0.08%)	$2,840 (-0.54%)
3 BR	$2.19	$3,875	$4,321 (-10.33%)	$3,957 (-2.06%)
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 7 cities nearby South Loop. The average rent in South Loop is currently $2,455 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 $2,100, 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 $2,804 per month.

Let's compare South Loop, Chicago, IL's rent against other top cities nearby by bedroom size. One bedrooms are about 10.05% more affordable. Two bedrooms in South Loop, Chicago, IL are about 22.41% more expensive. Finally, rent for three bedrooms are about 27.00% 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	$1,350	$1,800	$2,200	$2,100
Schaumburg, IL	N/A	$2,201	$2,250	$2,289
Aurora, IL	N/A	$1,400	$2,173	$2,300
Wheaton, IL	N/A	$1,950	$2,720	$2,455
Naperville, IL	N/A	$2,415	$2,250	$2,615
Oak Park, IL	N/A	$2,250	$2,650	$2,750
Evanston, IL	$1,853	$2,350	$2,925	$2,804

Top Neighborhoods Near South Loop

There are a total of 19 neighborhoods in or near South Loop. Some of these neighborhoods include South Shore, Rogers Park, and Uptown. We've included all of these top 19 neighborhoods in or near South Loop, Chicago, IL in the following chart.

The average rent for these 19 neighborhoods in or near South Loop, Chicago, IL is currently around $2,163 per month. A total of 14 neighborhoods have a lower average rent. Meaning, only five neighborhoods have a higher average rent than $2,163. Out of all the neighborhoods in or near South Loop, South Shore has the most affordable average rent at $1,550 per month. Whereas, at $2,950 average rent per month, West Town 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	$1,175	$1,375	$1,550
Rogers Park, Chicago, IL	$1,200	$1,535	$1,863	$1,650
Uptown, Chicago, IL	$1,200	$1,600	$2,350	$1,695
Edgewater, Chicago, IL	$1,275	$1,650	$2,100	$1,720
West Rogers Park, Chicago, IL	N/A	$1,500	$1,878	$1,860
Albany Park, Chicago, IL	N/A	$1,425	$1,950	$1,875
Pilsen, Chicago, IL	$1,495	$1,450	$1,900	$2,100
Ravenswood, Chicago, IL	$1,338	$1,675	$2,200	$2,100
Hyde Park, Chicago, IL	$1,200	$1,523	$1,975	$2,153
Humboldt Park, Chicago, IL	N/A	$1,963	$1,700	$2,163
Bronzeville, Chicago, IL	$1,325	$1,675	$1,992	$2,273
Logan Square, Chicago, IL	$1,395	$1,700	$2,200	$2,300
Lincoln Park, Chicago, IL	$1,585	$2,198	$3,650	$2,300
Lakeview, Chicago, IL	$1,445	$1,857	$2,600	$2,400
The Loop, Chicago, IL	$1,900	$2,150	$3,000	$2,700
Bucktown, Chicago, IL	N/A	$1,836	$2,725	$2,713
Near North Side, Chicago, IL	$1,730	$2,300	$3,600	$2,800
West Town, Chicago, IL	$2,235	$2,243	$2,846	$2,950
Near West Side, Chicago, IL	N/A	$2,400	$2,875	$2,950

Top Counties Near South Loop

There are a total of 19 counties located by South Loop, Chicago, IL. Some of these counties include Proviso, IL, Downers Grove, IL, and Chicago, IL. The average rent for rentals in these counties is $2,550. 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 Proviso, IL. It's average rent per month is $1,800. 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 8.84% more expensive than other counties nearby. Finally, rent for two bedrooms in South Loop, Chicago, IL is 21.56% more expensive than other counties nearby. We've listed the top 10 counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Proviso, IL	$1,195	$1,375	$1,600	$1,800
Downers Grove, IL	N/A	$1,847	$2,050	$2,050
Chicago, IL	$1,350	$1,800	$2,200	$2,100
Schaumburg, IL	N/A	$2,131	$2,100	$2,250
Milton, IL	N/A	$1,950	$2,409	$2,364
Lisle, IL	N/A	$1,600	$1,960	$2,415
Maine, IL	N/A	$1,400	$2,250	$2,600
Oak Park, IL	N/A	$2,250	$2,650	$2,750
Evanston, IL	$1,853	$2,350	$2,925	$2,804
York, IL	N/A	$1,935	$2,806	$2,850

Top Zipcodes Near South Loop

There are a total of 5 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 $2,950 per month is 60201, Evanston, IL.

Studios in these zipcodes have an average rent of $1,300. 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 South Loop, Chicago, IL is $1,499 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,950 per month. Which comes out to $2 per sqft. The following chart includes the top 5 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	$1,200	$1,499	$1,950	$2,150
60618, Chicago, IL	$1,625	$1,625	$2,000	$2,000
60641, Chicago, IL	$1,025	$1,300	$1,750	$1,900
60625, Chicago, IL	$1,300	$1,400	$1,863	$2,000
60201, Evanston, IL	$2,306	$2,400	$3,475	$2,950

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 $2,650. 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 $1,735 and an average price per square feet of $2.60. There are a total of 8 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 49 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 $2.50. There are a total of 70 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 0.01%, one bedroom rental prices have changed by -0.03%, two bedroom rental prices have changed by 0.00%, and three bedroom rental prices have changed by -0.10% 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 $2,120/month. You can search for these reasonably priced rental listings on RentHop.