Chicago, IL Rental Market Trends
Last updated: October 28, 2025 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Chicago is $2,462, a 4.38% increase compared to the previous year, when the average rent was $2,359.
Studio Apartments at $1,748 offer the most budget-friendly option with 469 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 707 square feet for $2,382, balancing privacy and affordability.
Two-beedroom units at $3,255 offer 1,060 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,358 sq ft) for $3,630, suitable for larger households.
Average rent in Chicago, IL
Last updated: October 28, 2025
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $2,462 | 747 sq. ft. |
| Studio | $1,748 | 469 sq. ft. |
| 1 Bed | $2,382 | 707 sq. ft. |
| 2 Beds | $3,255 | 1,060 sq. ft. |
| 3 Beds | $3,630 | 1,358 sq. ft. |
Chicago, IL rent trends
What's the typical rent budget in Chicago, IL?
The largest share of rentals in Chicago, IL (24%) fall between $3,000- per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Chicago, IL?
624,368 or 54% of the households in Chicago, IL are renter-occupied while 522,179 or 46% are owner-occupied.
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Chicago apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.