Chicagoland Real Estate
Abode Chicago
Homes for sale, apartments for rent, and free apartment locating across Chicagoland — done beautifully.
$2,500
Median Rent
+8.5%
Rent YoY
15 days
Avg. Time to Lease
9,301
Active Rentals
$2,500
Median Rent
+8.5%
Rent YoY
15 days
Avg. Time to Lease
9,301
Active Rentals
July 2026 · the Abode Rent Index
This month in Chicago
As of July 2026, the median asking rent in Chicago, IL is $2,500 per month, up +8.5% from a year earlier.
In Chicago right now, the average listing leases in 15 days and 9,301 rentals are actively listed.
The fastest-rising neighborhoods year over year are Streeterville (+44.7%), Deerfield (+42.9%), Ravenswood (+33.3%).
Streeterville is the most expensive area tracked at $3,400 median, while Justice is the most affordable at $1,358.
Source: the Abode Rent Index, computed from leased listings across MLS and Abode-managed communities, updated monthly. How these numbers are calculated
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Chicago Apartment Locator
Tell us what you want — a local agent finds it, tours it, and negotiates it. Free to renters.
How it worksYour local team
The people behind Abode Chicago
Will Hill
Broker
De Xeunxom
Residential Leasing Agent
Marissa Wilson
Broker
Patricia Pena
Broker
Jose Roman
Agent
Zach Gotkin
Managing Broker
Our office
Abode Chicago
1249 W Devon AveChicago, IL 60660Chicago questions, answered
What is the average rent in Chicago?
A typical one-bedroom in Chicago rents for $2,200 and a two-bedroom for $2,750; across all unit sizes the median asking rent is $2,500 per month, per the Abode Rent Index (July 2026).
Are Chicago landlords offering concessions right now?
Yes. As of July 2026, newer and professionally managed Chicago buildings are advertising around +1.3% off — a net-effective rent of $2,660 versus $2,695 asking, roughly $35 a month back in your pocket. Abode tracks concessions across the market from leased-listing data, so our agents know which buildings are actually giving them.
How long does it take to rent an apartment in Chicago?
Over the last 90 days, the average Chicago rental leased in about 15 days on market, with roughly 9,301 rentals actively listed right now, per the Abode Rent Index (July 2026). A good agent moves fast on the ones that fit.
What are the best neighborhoods in Chicago?
The right one depends on how you live, but Gold Coast, Lincoln Park, River North, West Loop are among the Chicago neighborhoods our agents work most — each has a full Abode guide with current rents, walkability, and an honest read on what living there is like.
How much do you need to earn to rent in Chicago?
Most Chicago landlords look for gross income around 40 times the monthly rent — about three times rent as a monthly minimum. At the typical $2,500 rent, that's roughly $100,000 a year; a one-bedroom at $2,200 needs closer to $88,000.
Do I need an apartment locator in Chicago?
You don't need one — but a good one costs you nothing and saves you weeks. Abode's Chicago locating service is free to renters (the property pays us): a licensed local agent searches live MLS inventory plus Abode's exclusive buildings, builds your tour list, and negotiates on your behalf.
Is Abode a real estate brokerage in Chicago?
Yes — Abode Chicago is a licensed real-estate team serving Chicagoland, with an office at 1249 W Devon Ave, Chicago, IL 60660. Reach us at (312) 722-6773 or [email protected].
Rent figures from the Abode Chicago Rent Index, updated monthly from leased listings.
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