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Average Rent in Chicago, IL

Avg. RentAnnual Change
Chicago Studio - $1,470+16%
Chicago 1 Bed - $1,920+6%
Chicago 2 Beds - $2,500+9%
Last updated 6/16/2024

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Local Guide

See what Chicago, IL has to offer.

Local Reviews

It's close to the schools and it's a decent place to raise children. Therefore, that's why we moved here from the city.

Public facilities such as parks are also places where you can socialize. They can also bring better physical and mental health to individuals and promote a sense of pride in the community's better social cohesion. All great communities have this in common. A lifestyle match. A passionate developer. A low crime rate. Grea

Crime, decreased services, no services. There are no sit Dow restaurants. There are no shopping centers. Lasts on main streets have bee off for three weeks despite multiple phone calls.

I like how clean it is and how trees are lining the streets. It is also very quiet and peaceful. I am grateful to be part of this neighborhood

The community is blessed with schools, which make it very convenient for children to go to school, and good restaurants, I can bring my family to have dinner together during the holidays.

My favorite neighborhood is that there are many large stores where I can shop. I will go to the neighborhood for dinner and shopping with my friends on weekends.

Demographics

Education

High School

6%

Associate's

14%

Bachelor's

44%

Master's

30%

Doctorate

6%

Family Size

2 people

74%

3 people

19%

4 people

6%

5 people

1%

6+ people

0%

Household Income

0-50k

22%

50-100k

24%

100-150k

21%

150-200k

12%

200k+

21%

Age

0-10

4%

10-20

9%

20-45

58%

45-65

18%

65+

10%

Affordability

Last updated 6/16/2024

*The rent information included in this summary is based on a median calculation of multifamily rental property inventory on Apartment Guide and Rent.com over the past 12-months and is for illustrative purposes only. This information does not constitute a pricing guarantee or financial advice related to the rental market.

Rent Trends

Average rent in The Loop, Chicago, IL

In Chicago, IL, as of 2024, the average rent for apartments ranges from $1,470 to $2,500. Specifically, the average rent for a studio apartment in The Loop, Chicago, IL is $1,470. For those seeking a 1-bedroom apartments, the average rent is $1,920. And for a 2-bedroom apartment, renters can expect to pay an average of $2,500.

Annual Rent Change Over the Past 12 Months

Studio

+16%

Changed from $1,267 to $1,470
1 Bed

+6%

Changed from $1,811 to $1,920
2 Beds

+9%

Changed from $2,294 to $2,500
Last updated 6/16/2024

Cost of Living

Compared to State Average

4%

Compared to National Average

9.4%

The cost of living in The Loop, Chicago, IL is 4% higher than the state average and 9.4% higher than the national average. The Loop, Chicago, IL housing is 39.2% more expensive than the U.S average, while utilities are about 8.9% less pricey. When it comes to basic necessities such as food and clothing, groceries are around 3.4% more in The Loop, Chicago, IL than in the rest of the country.

Healthcare services such as doctor check-ups and dentistry cost 7.3% more here compared to the U.S. average.
Cost of Living in The Loop, Chicago, ILCompared to State AverageCompared to National Average
Housing
15.2%
39.2%
Utilities
0.2%
8.9%
Food
1.6%
3.4%
Transportation
0%
5.8%
Healthcare
3.4%
7.3%

Compare Other Cities

CityStudio Avg RentAnnual Change
Lansing$1,727-11%
Schaumburg$1,544+5%
Lombard$1,499-10%
Chicago$1,470+16%
Naperville$1,462-29%
Oak Lawn$1,450--
Evanston$1,370+6%
Aurora$1,325+5%
Bolingbrook$1,282+21%
Portage$1,160--
Wheaton$990-46%
Joliet$962+8%
Waukegan$910+1%
Kenosha$875+35%
Hammond$870+13%
Valparaiso$850+10%
Merrillville$7620%
Elgin$750--
Michigan City$7120%
Gary$699+7%
City1 Bed Avg RentAnnual Change
Lombard$2,709+22%
Evanston$2,644+19%
Naperville$1,949+8%
Chicago$1,920+6%
Plainfield$1,800+3%
Elgin$1,7920%
Wheaton$1,737+2%
Schaumburg$1,665+5%
Bolingbrook$1,587+40%
Aurora$1,470+9%
Skokie$1,350--
Portage$1,350+35%
Merrillville$1,307+1%
Crown Point$1,259+6%
Lansing$1,175--
Valparaiso$1,164+17%
Waukegan$1,160+4%
Joliet$1,090+8%
Kenosha$1,070-3%
Hammond$1,020+16%
Calumet City$860+5%
Michigan City$8220%
Gary$812+16%
City2 Beds Avg RentAnnual Change
Evanston$3,466+80%
Naperville$2,549+13%
Chicago$2,500+9%
Elgin$2,3900%
Plainfield$2,250-13%
Lombard$2,166-13%
Wheaton$2,010+9%
Aurora$2,007+7%
Schaumburg$1,978+4%
Bolingbrook$1,8120%
Skokie$1,800+14%
Portage$1,672+53%
Oak Lawn$1,500--
Merrillville$1,472+10%
Waukegan$1,447-1%
Crown Point$1,349+2%
Kenosha$1,341-1%
Joliet$1,292+8%
Hammond$1,253+17%
Valparaiso$1,227+9%
Michigan City$1,133+6%
Calumet City$1,070+5%
Gary$905+3%
Lansing$899--

Compare Neighborhoods

Far Southeast Side

$762

1 Bed Avg. Rent

South Shore

$825

1 Bed Avg. Rent

Northwest Side

$995

1 Bed Avg. Rent

What are the most affordable neighborhoods in Chicago, IL?

For renters in Chicago seeking more affordable options, the neighborhoods to watch are Far Southeast Side, South Shore, and Northwest Side, where average rents for 1-bedroom apartments stand at $762, $825, and $995 respectively. Additional areas offering value are Irving Park and Grand Boulevard, where the rents are $995 and $1,195, a favorable comparison to Chicago's overall 1-bedroom average of $1,920.

What are the most expensive neighborhoods in Chicago, IL?

In Chicago, the neighborhoods commanding the highest rents are Logan Square, Fulton River District, and West Loop. A 1-bedroom apartment in Logan Square averages at $3,900, in Fulton River District it averages $3,524, and in West Loop, the average is $3,140. For additional high-end living options, Near West Side offers 1-bedroom apartments at $2,983, and West Side at $2,726. These rates compare to the overall average rent of $1,920 for a 1-bedroom apartment in Chicago, highlighting the premium nature of these specific neighborhoods.

What are the most popular neighborhoods in Chicago, IL?

In Chicago, the most sought-after neighborhoods for renters include Wicker Park, Lincoln Park, and West Town. In Wicker Park, the average rent for a 1-bedroom apartment is $1,575. Lincoln Park sees average rents of $1,735 for a 1-bedroom unit. West Town offers similar appeal with 1-bedroom apartments averaging $1,500. For those seeking other popular areas, River West presents 1-bedroom apartments at $2,150, and North Side at $1,755. These prices are set against the backdrop of the city-wide average of $1,920 for a 1-bedroom apartment in Chicago, underscoring the popularity of these particular neighborhoods.

NeighborhoodStudio Avg RentAnnual Change
Fulton River District$2,832+44%
Near East Side$2,625+11%
Near West Side$2,570+33%
West Side$2,570+56%
West Loop$2,562+101%
The Loop$2,500-1%
Fulton Market$2,5000%
Lower West Side$2,500--
Far Southwest Side$2,278+210%
Central Station$2,232+17%
Little Italy$2,096+9%
Near South Side$2,034-3%
River North$2,000--
River West$1,900--
Downtown$1,735-11%
Streeterville$1,717-2%
Near North Side$1,6500%
Gold Coast$1,6500%
West Town$1,600-22%
Logan Square$1,600--
Wicker Park$1,600--
East Hyde Park$1,536-9%
Hyde Park$1,490-12%
Buena Park$1,465+7%
South Side$1,436-8%
Far Southeast Side$1,399+106%
Greektown$1,390+9%
Lincoln Park$1,385+20%
North Side$1,327+14%
Lake View East$1,305+9%
Lakeview$1,275+7%
Uptown$1,212-7%
Hyde Park Kenwood Historic District$1,210-30%
Edgewater$1,110-1%
Far North Side$1,100+2%
Edgewater Beach$1,100+1%
Rogers Park$1,065+4%
Lincoln Square$1,050+11%
Ravenswood$1,050+11%
West Ridge$1,025-2%
Albany Park$935--
Northwest Side$925+3%
Irving Park$925+3%
Southwest Side$750--
Woodlawn$740--
South Shore$7250%
Neighborhood1 Bed Avg RentAnnual Change
Fulton River District$3,524+46%
West Loop$3,140+10%
Near West Side$2,983+27%
West Side$2,726+21%
Streeterville$2,715-1%
Near East Side$2,680-7%
Little Italy$2,593+16%
Central Station$2,587+4%
Near South Side$2,370+1%
Downtown$2,332-11%
The Loop$2,313-7%
East Hyde Park$2,272+193%
Fulton Market$2,250-23%
Near North Side$2,157-21%
River West$2,150--
Hyde Park$2,124+23%
Gold Coast$2,000-42%
South Side$1,873+87%
Hyde Park Kenwood Historic District$1,801-6%
Lakeview$1,775-7%
North Side$1,755-2%
Lake View East$1,755-2%
Uptown$1,7420%
Lincoln Park$1,735+6%
Buena Park$1,657+8%
Lower West Side$1,595+12%
Wicker Park$1,575--
Far North Side$1,547+5%
West Town$1,500-32%
Beverly$1,500--
Far Southwest Side$1,500--
Bridgeport$1,495--
Ravenswood$1,495-19%
Rogers Park$1,472+6%
Hermosa$1,435--
Edgewater$1,395-9%
Edgewater Beach$1,355-11%
Woodlawn$1,350+8%
West Ridge$1,322+8%
Lincoln Square$1,310-10%
Albany Park$1,3000%
Grand Boulevard$1,195+6%
Northwest Side$995-5%
Irving Park$995-5%
South Shore$8250%
Far Southeast Side$762+5%
Neighborhood2 Beds Avg RentAnnual Change
Fulton River District$4,781+38%
Near East Side$4,652+16%
Fulton Market$4,250+12%
Central Station$4,068+20%
West Loop$3,897-8%
River West$3,800--
Wicker Park$3,750--
River North$3,650--
Streeterville$3,607-2%
Greektown$3,500--
The Loop$3,379+4%
Near North Side$3,370-7%
Downtown$3,325+1%
Near West Side$3,285+3%
Near South Side$3,211+4%
West Town$3,210-15%
East Hyde Park$3,099+31%
West Side$3,050-6%
Little Italy$3,030-4%
Beverly$2,900--
Edgewater$2,850+75%
Gold Coast$2,795+22%
Hyde Park$2,503+6%
Lakeview$2,450+12%
Lincoln Park$2,420+5%
North Side$2,410+7%
Buena Park$2,395+9%
South Side$2,390+60%
Lake View East$2,372+10%
Uptown$2,295+10%
Hyde Park Kenwood Historic District$2,197-32%
Ravenswood$2,125-22%
Far North Side$2,093+14%
Rogers Park$2,070+5%
Logan Square$1,999-7%
Irving Park$1,925+24%
Grand Boulevard$1,907--
Lower West Side$1,895+49%
Woodlawn$1,850+20%
Far Southwest Side$1,850--
Northwest Side$1,800+20%
Bridgeport$1,800+81%
Albany Park$1,650+10%
Lincoln Square$1,445-43%
West Ridge$1,445+3%
Southwest Side$1,410+18%
Edgewater Beach$1,325-19%
South Shore$1,300+11%
Far Southeast Side$1,100-6%

Transportation

Commute Time

0-15 Mins

24%

15-30 Mins

40%

30-40 Mins

14%

40-60 Mins

11%

60+ Mins

12%

Transportation Scores

Percentage: 9696

Walk Score®

Percentage: 8686

Bike Score®

Percentage: 100100

Transit Score®

Area Amenities

Top Score

Coffee

3.5/5 stars based on undefined reviews

Oh la latte, not a bad spot for getting a cup of joe.

  1. A high number of coffee shops per resident
  2. 99% more coffee shops than average
  3. 32% more coffee shops than areas of a similar size

Theaters

3.5/5 stars based on undefined reviews

The Loop Chicago is shaping up to be a big star in the theater scene.

  1. A high number of theaters per resident
  2. 99% more theaters than average
  3. 36% more theaters than areas of a similar size

Fine Arts

3.5/5 stars based on undefined reviews

The Loop Chicago draws a crowd for its fine art.

  1. A high number of fine art centers per resident
  2. 99% more fine art centers than average
  3. 43% more fine art centers than areas of a similar size

Restaurants

3/5 stars based on undefined reviews

The restaurant scene here is really cooking with gas.

  1. A high number of restaurants per resident
  2. 99% more restaurants than average
  3. 44% fewer restaurants than areas of a similar size

Nightlife

3/5 stars based on undefined reviews

Happy hour starts at six around here.

  1. A high number of bars and clubs per resident
  2. 98% more bars and clubs than average
  3. 38% fewer bars and clubs than areas of a similar size

Retail Shops

3/5 stars based on undefined reviews

If you love to shop, The Loop Chicago is a good fit.

  1. A high number of shops per resident
  2. 97% more shops than average
  3. Far fewer shops than areas of a similar size

Amusement Parks

3/5 stars based on undefined reviews

Just the ticket: amusement parks are an uplifting presence in The Loop Chicago.

  1. A high number of amusement parks per resident
  2. 98% more amusement parks than average
  3. 24% fewer amusement parks than areas of a similar size

Medical Care

3/5 stars based on undefined reviews

More of a gem than germ, this The Loop Chicago is not too bad for medical care.

  1. A high number of medical facilities per resident
  2. 98% more medical facilities than average
  3. 52% fewer medical facilities than areas of a similar size

Grocery Stores

2.5/5 stars based on undefined reviews

Not bad on the supermarket score. The Loop Chicago gets an average rating.

  1. A high number of grocery stores per resident
  2. 91% more grocery stores than average
  3. Far fewer grocery stores than areas of a similar size

Parks

2.5/5 stars based on undefined reviews

There's fresh air to be had here.

  1. A high number of parks per resident
  2. 97% more parks than average
  3. 52% fewer parks than areas of a similar size

Childcare

2.5/5 stars based on undefined reviews

The Loop Chicago is taking baby steps toward having ample childcare options.

  1. A high number of daycares per resident
  2. 97% more daycares than average
  3. 87% fewer daycares than areas of a similar size

Health and Fitness

2.5/5 stars based on undefined reviews

Cardio is hale and hardy in The Loop Chicago.

  1. A high number of gyms per resident
  2. 98% more gyms than average
  3. Far fewer gyms than areas of a similar size

Pet Services

2.5/5 stars based on undefined reviews

Who's an ok boy? The Loop Chicago doesn't deserve many treats.

  1. A high number of pet facilities per resident
  2. 93% more pet facilities than average
  3. Far fewer pet facilities than areas of a similar size

Hospitals

2.5/5 stars based on undefined reviews

The Loop Chicago gets the all clear for hospitals.

  1. Few hospitals per resident
  2. 93% more hospitals than average
  3. Far fewer hospitals than areas of a similar size

Gas Stations

2/5 stars based on undefined reviews

Honk if you see a gas station.

  1. Few gas stations per resident
  2. 70% more gas stations than average
  3. Far fewer gas stations than areas of a similar size

Schools

Top Schools in The Loop Chicago

Information provided by GreatSchools. To verify school enrollment eligibility, contact the school district directly.

Find Houses in Nearby Cities

City1 Bed Price2 Beds Price
Chicago, IL 0.5 miles$1,920$2,500
Hammond, IN 21.4 miles$1,020$1,253
Evanston, IL 11.7 miles$2,644$3,466
Oak Park, IL 8.2 miles$1,354$1,694
Gary, IN 24.4 miles$812$905
Oak Lawn, IL 12.8 miles---$1,500
Berwyn, IL 8.9 miles$1,350$1,400
Cicero, IL 7 miles---$1,400
Naperville, IL 27.6 miles$1,949$2,549
Skokie, IL 12 miles$1,350$1,800

Find Houses in Nearby Neighborhoods

Neighborhood1 Bed Price2 Beds Price
The Loop$2,313$3,379
Downtown 0.3 miles$2,332$3,325
Near North Side 1.5 miles$2,157$3,370
West Loop 1.4 miles$3,140$3,897
River North 1.1 miles---$3,650
Near East Side 0.7 miles$2,680$4,652
Streeterville 1.1 miles$2,715$3,607
Near South Side 1.4 miles$2,370$3,211
Fulton Market 1.7 miles$2,250$4,250
Fulton River District 1.1 miles$3,524$4,781