Chicago Rent Report — August 2023
A permanent record of Chicago rents for August 2023 from the Abode Rent Index. These figures are final.
This month in Chicago
As of August 2023, the median asking rent in Chicago, IL is $2,422 per month.
Advertised net-effective rent — asking less advertised concessions — is $2,399, a median discount of +0.9% ($23/month) off asking.
In Chicago right now, the average listing leases in 15 days and 7,277 rentals are actively listed.
Old Town is the most expensive area tracked at $3,276 median, while Mayfair is the most affordable at $1,295.
Source: the Abode Rent Index, computed from leased listings across MLS and Abode-managed communities, updated monthly. How these numbers are calculated
Neighborhood medians, August 2023
| Neighborhood | Median rent | 1 bed | 2 bed | MoM | YoY | Days on market |
|---|---|---|---|---|---|---|
| Old Town | $3,276 | $3,186 | $4,420 | +3.0% | — | — |
| Lincoln Park | $3,002 | $2,870 | $6,520 | +32.2% | — | — |
| Fulton Market | $2,952 | — | — | +2.8% | — | — |
| Hyde Park | $2,935 | $2,745 | $4,000 | +113.5% | — | — |
| River North | $2,895 | $2,998 | $4,725 | +4.3% | — | — |
| Evanstonsuburb | $2,827 | $2,620 | — | +25.0% | — | — |
| Gold Coast | $2,810 | $2,572 | $4,089 | +30.9% | — | — |
| Lakeshore East | $2,795 | $2,749 | $4,363 | +27.6% | — | — |
| Logan Square | $2,785 | $2,795 | — | — | — | — |
| Oak Parksuburb | $2,754 | $2,609 | $3,500 | — | — | — |
| South Loop | $2,689 | $2,696 | $3,600 | +7.8% | — | — |
| West Town | $2,668 | $2,785 | — | — | — | — |
| River West | $2,530 | $2,460 | $4,018 | -6.1% | — | — |
| West Loop | $2,493 | $2,695 | $3,791 | -7.1% | — | — |
| Bucktown | $2,472 | — | — | — | — | — |
| Illinois Medical District | $2,421 | $2,431 | $3,270 | — | — | — |
| Streeterville | $2,405 | $2,475 | $4,004 | -13.9% | — | — |
| Deerfieldsuburb | $2,321 | $2,161 | $2,711 | — | — | — |
| Loop | $2,315 | $2,395 | — | -19.7% | — | — |
| Schaumburgsuburb | $2,312 | — | $2,410 | — | — | — |
| Lakeview | $2,306 | $2,345 | $2,875 | +7.6% | — | — |
| Wicker Park | $2,275 | $2,735 | — | — | — | — |
| Woodridgesuburb | $2,179 | — | $2,207 | -1.0% | — | — |
| Napervillesuburb | $2,165 | $1,757 | $2,310 | +10.7% | — | — |
| Aurorasuburb | $2,102 | $1,706 | $2,121 | — | — | — |
| Printers Row | $2,014 | — | — | -25.2% | — | — |
| Rogers Park | $1,950 | $1,695 | $2,250 | — | — | — |
| Palatinesuburb | $1,875 | $1,360 | — | +16.6% | — | — |
| Arlington Heightssuburb | $1,854 | $1,753 | $2,504 | -3.4% | — | — |
| Uptown | $1,820 | $1,842 | $2,493 | +13.5% | — | — |
| Andersonville | $1,714 | — | $2,224 | — | — | — |
| Near North Side | $1,667 | — | — | -40.9% | — | — |
| Wheatonsuburb | $1,650 | $1,515 | — | — | — | — |
| Edgewater | $1,626 | $1,816 | $2,275 | +28.6% | — | — |
| Wheelingsuburb | $1,620 | — | — | — | — | — |
| Hoffman Estatessuburb | $1,605 | $1,605 | — | -3.0% | — | — |
| O'Hare | $1,584 | $1,574 | $1,795 | +8.6% | — | — |
| Buena Park | $1,570 | — | — | — | — | — |
| Justicesuburb | $1,358 | $1,129 | $1,358 | — | — | — |
| Mayfair | $1,295 | — | — | — | — | — |
Source: MLS (leased rental listings) + Abode managed communities (Dynamics 365). Neighborhoods with samples below the publishing threshold are omitted for this month. Methodology