Monthly Rent Report
Austin Rent Report — May 2024
Asking rents in ZIP 60644, Chicago, from 296 listings.
Median 1BR rent in Austin was $975 in May 2024, down 8.0% (−$85) from April 2024 and up 2.6% year-over-year. The middle half of 1BR listings asked between $925 and $1,055. That puts Austin $528 below the Chicago citywide 1BR median of $1,503. The month's figures are based on 296 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2024 | Vs. May 2023 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $763 | +$23 (+3.0%) | +$13 (+1.7%) | $756 – $769 | 2 |
| Studio | $810 | +$70 (+9.5%) | +$60 (+8.0%) | $763 – $883 | 19 |
| 1BR | $975 | −$85 (-8.0%) | +$25 (+2.6%) | $925 – $1,055 | 62 |
| 1BR | $950 | −$110 (-10.4%) | $0 (0.0%) | $950 – $950 | 1 |
| 2BR | $1,123 | −$277 (-19.8%) | +$8 (+0.7%) | $1,059 – $1,186 | 2 |
| 2BR | $1,300 | −$100 (-7.1%) | +$185 (+16.6%) | $1,145 – $1,500 | 73 |
| 3BR | $1,525 | +$345 (+29.2%) | +$25 (+1.7%) | $1,525 – $1,525 | 1 |
| 3BR | $1,395 | +$215 (+18.2%) | −$105 (-7.0%) | $1,295 – $1,650 | 112 |
| 4BR | $2,200 | $0 (0.0%) | +$522 (+31.1%) | $2,200 – $2,200 | 2 |
| 4BR | $2,200 | $0 (0.0%) | +$522 (+31.1%) | $2,200 – $2,200 | 9 |
Median, P25, and P75 are asking rents from listings posted in May 2024. Changes compare against the nearest prior month with data.
Austin vs. Chicago — May 2024
| Bedrooms | Austin Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $763 | $1,196 | −$433 (-36.2%) |
| Studio | $810 | $1,196 | −$386 (-32.3%) |
| 1BR | $975 | $1,503 | −$527 (-35.1%) |
| 1BR | $950 | $1,503 | −$552 (-36.8%) |
| 2BR | $1,123 | $1,825 | −$702 (-38.5%) |
| 2BR | $1,300 | $1,825 | −$525 (-28.8%) |
| 3BR | $1,525 | $2,236 | −$711 (-31.8%) |
| 3BR | $1,395 | $2,236 | −$841 (-37.6%) |
| 4BR | $2,200 | $2,725 | −$525 (-19.3%) |
| 4BR | $2,200 | $2,725 | −$525 (-19.3%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2024.