Chicago, IL Rental Market Trends
What is the average rent in Chicago?
The average rent for an apartment in Chicago is $2,251. The cost of rent varies depending on several factors, including location, size, and quality.
Average rent in Chicago, IL
Last updated November 2023
| Average Rent | Average Apartment Size |
|---|---|
| $2,251 | 749 sq. ft. |
What is the average apartment size in Chicago?
The average size for a Chicago, IL apartment is 749 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Chicago, IL apartment rent ranges
Chicago, IL Occupied Housing Units
614,673 or 54% of the households in Chicago, IL are renter-occupied while 515,235 or 46% are owner-occupied.
Chicago, IL rent trends
Average Rent in Chicago, IL By Neighborhood
| City | Average Rent |
|---|---|
| Streeterville | $2,990 |
| River North | $2,850 |
| Chicago Loop | $2,843 |
| Near North Side Chicago | $2,774 |
| Gold Coast | $2,740 |
| Little Italy | $2,729 |
| Near West Side | $2,691 |
| Fulton River District | $2,684 |
| Wicker Park | $2,636 |
| Fulton Market | $2,547 |
| Downtown Chicago | $2,547 |
| Goose Island | $2,539 |
| Cabrini - Green | $2,527 |
| Old Town Chicago | $2,527 |
| South Loop | $2,486 |
| Belmont Gardens | $2,241 |
| Hermosa | $2,241 |
| Kelvin Park | $2,241 |
| Bucktown | $2,239 |
| Humboldt Park | $2,209 |
| Chicago Lawn | $2,194 |
| Belmont Central | $2,180 |
| Dunning | $2,145 |
| Lincoln Park | $2,125 |
| Ranch Triangle | $2,125 |
| Sheffield | $2,125 |
| Wrightwood | $2,125 |
| Lathrop | $2,107 |
| Tri-Taylor | $2,107 |
| North Lawndale | $2,088 |
| Logan Square | $2,027 |
| Lakeview | $1,925 |
| Kenwood | $1,818 |
| Bronzeville | $1,763 |
| Armour Square | $1,748 |
| Dearborn | $1,748 |
| Buena Park | $1,743 |
| South East Ravenswood | $1,743 |
| North Center | $1,741 |
| Bridgeport | $1,714 |
| Hyde Park | $1,690 |
| Washington Park | $1,690 |
| Avondale | $1,616 |
| Clarendon Park | $1,595 |
| Albany Park | $1,524 |
| Jefferson Park | $1,512 |
| North Mayfair | $1,512 |
| Sauganash | $1,512 |
| Back of the Yards | $1,504 |
| Canaryville | $1,504 |
| Bowmanville | $1,499 |
| Ravenswood | $1,499 |
| Uptown Chicago | $1,497 |
| North Kenwood | $1,495 |
| Oakland | $1,495 |
| West Rogers Park | $1,475 |
| Andersonville | $1,471 |
| Bryn Mawr Historic District | $1,471 |
| Edgewater Beach | $1,471 |
| Pulaski Park | $1,447 |
| Kennedy Park | $1,444 |
| Mount Greenwood | $1,444 |
| Edgewater | $1,417 |
| Little Village | $1,387 |
| West Woodlawn | $1,378 |
| Rogers Park | $1,368 |
| Greater Grand Crossing | $1,346 |
| Park Manor | $1,346 |
| Woodlawn | $1,246 |
| South Shore | $1,146 |
| Pilsen | $1,138 |
| Burnside | $1,058 |
| Marynook | $1,058 |
| Cottage Grove Heights | $998 |
| Rosemoor | $998 |
| Austin | $821 |
| The Island | $685 |
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What are the most affordable neighborhoods in Chicago?
The most affordable neighborhoods in Chicago are The Island, where the average rent goes for $685/month, Austin, where renters pay $821/mo on average, and Cottage Grove Heights, where the average rent goes for $998/mo. If you’re looking for other great deals, check out the listings from Rosemoor ($998), Burnside ($1,058), and Marynook ($1,058), where the asking prices are below the average Chicago rent of $2,251/mo.
What are the most expensive neighborhoods in Chicago?
The most expensive neighborhoods in Chicago are Chicago Loop ($2,843), River North ($2,850) and Streeterville ($2,990).
What are the most popular neighborhoods in Chicago?
The most popular neighborhood in Chicago is Downtown Chicago, where there are 36 listings with an average rent of $2,547. Next up is Streeterville, where apartments go for $2,990/month, followed by Chicago Loop with $2,843 If you’re looking to rent in Chicago’s most popular neighborhoods, make sure to also check out Near North Side Chicago, where renters pay $2,774 on average, and Fulton Market, where the average monthly rent is $2,547.
Chicago | Rent Comparison by Neighborhood
Rent in Albany Park is 4% higher than in Andersonville
$1,524
Albany Park rent is 32% lower than Chicago average
Average Rent
$1,524
$1,471
Andersonville rent is 35% lower than Chicago average
Average Rent
$1,471
How Chicago Compares to Other Cities
| State | Average Rent |
|---|---|
| Chicago | $2,251 |
| Bloomington | $1,125 |
| Elmhurst | $2,048 |
| Schaumburg | $1,808 |
| Aurora | $1,737 |
| Buffalo Grove | $1,951 |
| Crest Hill | $1,322 |
| Deerfield | $2,507 |
| Hanover Park | $1,472 |
| North Aurora | $1,570 |
| Oak Park | $2,149 |
| Blue Island | $1,046 |
What is the average price for a storage unit in Chicago?
The average rent for a non-climate-controlled 10'x10' storage unit in Chicago is $185.9. Rental costs vary depending on several factors, including unit size and the storage facility's location and amenities.
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