Average Rent in The Loop, Chicago, IL

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Current Versus Historical The Loop, Chicago, IL Rents

The Loop rentals average $1,825 for a studio rental to $12,000 for a 4-bedroom rental. The median price of all currently available listings is $2,750, 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 $691 (40.94%) year-over-year from $1,688 to $2,379. 1-bedroom rentals prices have increased by $598 (26.54%) year-over-year from $2,252 to $2,850. 2-bedroom rentals prices have decreased by $24 (-0.76%) year-over-year from $3,174 to $3,150. 3-bedroom rentals prices have increased by $934 (17.75%) year-over-year from $5,260 to $6,194. 4-bedroom rentals prices have increased by $7,600 (114.29%) year-over-year from $6,650 to $14,250. 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 8.51% this month. 1-bedroom rents have gone up by 5.53% this month. 2-bedroom rents have gone down by 7.85% this month. 3-bedroom rents have gone up by 5.39% this month. 4-bedroom rents have gone down by 42.42% this month.

Beds	Price / Sqft	Nov 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.19	$2,379	$1,688 (40.94%)	$1,725 (37.94%)
1 BR	$2.88	$2,850	$2,252 (26.54%)	$2,265 (25.81%)
2 BR	$2.57	$3,150	$3,174 (-0.76%)	$3,081 (2.26%)
3 BR	$4.11	$6,194	$5,260 (17.75%)	$5,785 (7.08%)
4+ BR	$3.30	$14,250	$6,650 (114.29%)	$12,025 (18.50%)

Historical Rents in The Loop, Chicago, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near The Loop

There are a total of 6 cities nearby The Loop. The average rent in The Loop is currently $2,550 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 The Loop, Chicago, IL is Evanston, IL. Monthly rents here are on average $2,795 per month.

Let's compare The Loop, Chicago, IL's rent against other top cities nearby by bedroom size. One bedrooms are about 17.05% more expensive. Two bedrooms in The Loop, Chicago, IL are about 25.17% more expensive. Finally, rent for three bedrooms are about 69.48% more expensive. Want more information? Check out the top 6 cities near The 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 The Loop

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

The average rent for these 17 neighborhoods in or near The Loop, Chicago, IL is currently around $2,100 per month. A total of 14 neighborhoods have a lower average rent. Meaning, only three neighborhoods have a higher average rent than $2,100. Out of all the neighborhoods in or near The 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 The 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
South Loop, Chicago, IL	$1,650	$2,000	$2,800	$2,665
Near West Side, Chicago, IL	N/A	$2,400	$2,733	$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 The Loop

There are a total of 17 counties located by The 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 The Loop, Chicago, IL.

In comparison, rent for one bedroom listings in The Loop, Chicago, IL is 26.36% more expensive than other counties nearby. Finally, rent for two bedrooms in The Loop, Chicago, IL is 23.83% 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 The Loop

There are a total of 4 zipcodes in or near The 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 The 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 The 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 - The Loop Average Rents

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

The average monthly rental price for The Loop, Chicago, IL apartments for rent is approximately $2,750. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do The 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 The Loop, Chicago, IL.

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

The average monthly rental price for studio apartments is $1,825 and an average price per square feet of $3.19. There are a total of 4 studio apartment listings currently available for rent in The Loop.

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

The average monthly rental price for one bedroom apartments is $2,200 and an average price per square feet of $2.88. There are a total of 35 one bedroom apartment listings currently available for rent in The Loop.

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

The average monthly rental price for two bedroom apartments is $3,000 and an average price per square feet of $2.57. There are a total of 49 two bedroom apartment listings currently available for rent in The Loop.

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

Rent prices for rentals in The Loop, Chicago, IL can fluctuate yearly. Specifically, studio rental prices have changed by 0.41%, one bedroom rental prices have changed by 0.27%, two bedroom rental prices have changed by -0.01%, and three bedroom rental prices have changed by 0.18% year-over-year.

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

A reasonable rent price in The Loop, Chicago, IL is around $2,200/month. You can search for these reasonably priced rental listings on RentHop.