Monthly Rent Report
Austin Rent Report — May 2023
Asking rents in ZIP 60644, Chicago, from 276 listings.
Median 1BR rent in Austin was $950 in May 2023, down 1.3% (−$12) from April 2023 and up 5.3% year-over-year. The middle half of 1BR listings asked between $950 and $950. That puts Austin $450 below the Chicago citywide 1BR median of $1,400. The month's figures are based on 276 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. May 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $750 | $0 (0.0%) | +$90 (+13.6%) | $750 – $750 | 1 |
| Studio | $750 | $0 (0.0%) | +$90 (+13.6%) | $690 – $823 | 18 |
| 1BR | $950 | −$12 (-1.3%) | +$48 (+5.3%) | $950 – $950 | 1 |
| 1BR | $995 | +$33 (+3.4%) | +$93 (+10.2%) | $925 – $1,100 | 57 |
| 2BR | $1,115 | −$15 (-1.3%) | +$165 (+17.4%) | $1,050 – $1,350 | 93 |
| 2BR | $1,100 | −$30 (-2.7%) | +$150 (+15.8%) | $1,100 – $1,100 | 6 |
| 3BR | $1,395 | −$130 (-8.5%) | −$5 (-0.4%) | $1,295 – $1,585 | 81 |
| 3BR | $1,500 | −$25 (-1.6%) | +$100 (+7.1%) | $1,500 – $1,500 | 2 |
| 4BR | $2,000 | +$480 (+31.6%) | +$325 (+19.4%) | $2,000 – $2,000 | 1 |
| 4BR | $1,678 | +$158 (+10.4%) | +$3 (+0.2%) | $1,609 – $1,695 | 10 |
Median, P25, and P75 are asking rents from listings posted in May 2023. Changes compare against the nearest prior month with data.
Austin vs. Chicago — May 2023
| Bedrooms | Austin Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $750 | $1,200 | −$450 (-37.5%) |
| Studio | $750 | $1,200 | −$450 (-37.5%) |
| 1BR | $950 | $1,400 | −$450 (-32.1%) |
| 1BR | $995 | $1,400 | −$405 (-28.9%) |
| 2BR | $1,115 | $1,698 | −$582 (-34.3%) |
| 2BR | $1,100 | $1,698 | −$597 (-35.2%) |
| 3BR | $1,395 | $2,300 | −$905 (-39.3%) |
| 3BR | $1,500 | $2,300 | −$800 (-34.8%) |
| 4BR | $2,000 | $2,548 | −$547 (-21.5%) |
| 4BR | $1,678 | $2,548 | −$869 (-34.1%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2023.