Monthly Rent Report
Austin Rent Report — August 2023
Asking rents in ZIP 60644, Chicago, from 42 listings.
Median 1BR rent in Austin was $950 in August 2023, down 15.6% (−$175) from July 2023 and up 5.6% year-over-year. The middle half of 1BR listings asked between $950 and $950. That puts Austin $570 below the Chicago citywide 1BR median of $1,520. The month's figures are based on 42 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. July 2023 | Vs. August 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $698 | +$23 (+3.3%) | −$197 (-22.1%) | $696 – $699 | 2 |
| Studio | $700 | +$25 (+3.7%) | −$195 (-21.8%) | $700 – $700 | 3 |
| 1BR | $950 | −$175 (-15.6%) | +$50 (+5.6%) | $950 – $950 | 3 |
| 1BR | $800 | −$325 (-28.9%) | −$100 (-11.1%) | $775 – $800 | 3 |
| 2BR | $1,350 | +$250 (+22.7%) | +$155 (+13.0%) | $1,300 – $1,350 | 3 |
| 2BR | $1,100 | $0 (0.0%) | −$95 (-7.9%) | $1,100 – $1,100 | 1 |
| 3BR | $2,400 | +$1,050 (+77.8%) | +$1,150 (+92.0%) | $2,400 – $2,400 | 1 |
| 3BR | $1,395 | +$45 (+3.3%) | +$145 (+11.6%) | $1,295 – $1,500 | 15 |
| 4BR | $1,780 | −$220 (-11.0%) | +$145 (+8.9%) | $1,780 – $1,780 | 1 |
| 4BR | $1,800 | −$200 (-10.0%) | +$165 (+10.1%) | $1,800 – $2,325 | 6 |
Median, P25, and P75 are asking rents from listings posted in August 2023. Changes compare against the nearest prior month with data.
Austin vs. Chicago — August 2023
| Bedrooms | Austin Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $698 | $1,250 | −$552 (-44.2%) |
| Studio | $700 | $1,250 | −$550 (-44.0%) |
| 1BR | $950 | $1,520 | −$570 (-37.5%) |
| 1BR | $800 | $1,520 | −$720 (-47.4%) |
| 2BR | $1,350 | $1,808 | −$457 (-25.3%) |
| 2BR | $1,100 | $1,808 | −$707 (-39.1%) |
| 3BR | $2,400 | $2,395 | +$5 (+0.2%) |
| 3BR | $1,395 | $2,395 | −$1,000 (-41.8%) |
| 4BR | $1,780 | $2,692 | −$912 (-33.9%) |
| 4BR | $1,800 | $2,692 | −$892 (-33.1%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in August 2023.