Chicago Rent Report — July 2023
A permanent record of Chicago rents for July 2023 from the Abode Rent Index. These figures are final.
This month in Chicago
As of July 2023, the median asking rent in Chicago, IL is $2,126 per month.
Advertised net-effective rent — asking less advertised concessions — is $2,118, a median discount of +0.4% ($8/month) off asking.
In Chicago right now, the average listing leases in 16 days and 4,903 rentals are actively listed.
Old Town is the most expensive area tracked at $3,180 median, while Edgewater is the most affordable at $1,264.
Source: the Abode Rent Index, computed from leased listings across MLS and Abode-managed communities, updated monthly. How these numbers are calculated
Neighborhood medians, July 2023
| Neighborhood | Median rent | 1 bed | 2 bed | MoM | YoY | Days on market |
|---|---|---|---|---|---|---|
| Old Town | $3,180 | $2,888 | — | — | — | — |
| Printers Row | $2,966 | — | — | — | — | — |
| Fulton Market | $2,912 | — | — | — | — | — |
| Loop | $2,884 | $2,870 | $4,593 | +28.4% | — | — |
| Streeterville | $2,794 | $2,478 | $3,863 | — | — | — |
| River North | $2,775 | $2,950 | $4,091 | -7.8% | — | — |
| West Loop | $2,694 | $2,800 | $3,781 | -1.9% | — | — |
| River West | $2,618 | $2,608 | — | — | — | — |
| Near North Side | $2,597 | $2,670 | — | — | — | — |
| South Loop | $2,497 | $2,497 | $3,203 | -7.4% | — | — |
| Fulton River District | $2,415 | $2,513 | — | +15.0% | — | — |
| Lincoln Square | $2,400 | — | — | — | — | — |
| Lakeshore East | $2,342 | — | — | -13.4% | — | — |
| Lakeview | $2,280 | $2,056 | $2,925 | — | — | — |
| Lincoln Park | $2,270 | $2,270 | — | -22.2% | — | — |
| Evanstonsuburb | $2,262 | $2,250 | — | -0.4% | — | — |
| Woodridgesuburb | $2,200 | — | — | — | — | — |
| Gold Coast | $2,146 | $2,376 | $3,075 | +23.7% | — | — |
| Arlington Heightssuburb | $1,920 | $1,908 | — | — | — | — |
| Napervillesuburb | $1,885 | $1,809 | — | — | — | — |
| Hoffman Estatessuburb | $1,655 | $1,588 | — | — | — | — |
| Palatinesuburb | $1,608 | — | $1,608 | — | — | — |
| Uptown | $1,595 | $1,570 | $1,952 | -8.9% | — | — |
| Ohare | $1,460 | $1,450 | $1,805 | +1.7% | — | — |
| Hyde Park | $1,375 | $1,592 | — | — | — | — |
| La Grange Parksuburb | $1,345 | $1,345 | — | — | — | — |
| Edgewater | $1,264 | — | — | — | — | — |
Source: MLS (leased rental listings) + Abode managed communities (Dynamics 365). Neighborhoods with samples below the publishing threshold are omitted for this month. Methodology