Monthly Rent Report
Chinatown Rent Report — March 2023
Asking rents in ZIP 60616, Chicago, from 560 listings.
Median 1BR rent in Chinatown was $1,550 in March 2023, down 18.4% (−$348) from February 2023 and down 28.2% year-over-year. The middle half of 1BR listings asked between $1,325 and $2,195. That puts Chinatown $154 above the Chicago citywide 1BR median of $1,396. The month's figures are based on 560 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. February 2023 | Vs. March 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $1,425 | −$375 (-20.8%) | +$319 (+28.8%) | $1,175 – $1,621 | 7 |
| Studio | $1,150 | −$650 (-36.1%) | +$44 (+4.0%) | $1,059 – $1,407 | 42 |
| 1BR | $1,550 | −$348 (-18.4%) | −$610 (-28.2%) | $1,325 – $2,195 | 175 |
| 1BR | $2,180 | +$282 (+14.8%) | +$20 (+0.9%) | $2,180 – $2,180 | 1 |
| 2BR | $2,715 | +$415 (+18.0%) | −$385 (-12.4%) | $2,563 – $2,825 | 7 |
| 2BR | $1,884 | −$416 (-18.1%) | −$1,216 (-39.2%) | $1,495 – $2,700 | 161 |
| 3BR | $3,100 | +$1,255 (+68.0%) | −$200 (-6.1%) | $3,100 – $3,100 | 1 |
| 3BR | $1,850 | +$5 (+0.3%) | −$1,450 (-43.9%) | $1,793 – $2,173 | 146 |
| 4BR | $4,500 | +$900 (+25.0%) | +$1,600 (+55.2%) | $2,775 – $4,500 | 6 |
| 4BR | $4,050 | +$450 (+12.5%) | +$1,150 (+39.7%) | $2,145 – $4,500 | 12 |
Median, P25, and P75 are asking rents from listings posted in March 2023. Changes compare against the nearest prior month with data.
Chinatown vs. Chicago — March 2023
| Bedrooms | Chinatown Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $1,425 | $1,204 | +$221 (+18.4%) |
| Studio | $1,150 | $1,204 | −$54 (-4.5%) |
| 1BR | $1,550 | $1,396 | +$154 (+11.0%) |
| 1BR | $2,180 | $1,396 | +$784 (+56.1%) |
| 2BR | $2,715 | $1,698 | +$1,018 (+59.9%) |
| 2BR | $1,884 | $1,698 | +$187 (+11.0%) |
| 3BR | $3,100 | $2,200 | +$900 (+40.9%) |
| 3BR | $1,850 | $2,200 | −$350 (-15.9%) |
| 4BR | $4,500 | $2,444 | +$2,056 (+84.1%) |
| 4BR | $4,050 | $2,444 | +$1,606 (+65.7%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in March 2023.