Monthly Rent Report
Chinatown Rent Report — May 2023
Asking rents in ZIP 60616, Chicago, from 493 listings.
Median 1BR rent in Chinatown was $1,948 in May 2023, up 8.2% (+$148) from April 2023 and up 3.9% year-over-year. The middle half of 1BR listings asked between $1,881 and $2,134. That puts Chinatown $548 above the Chicago citywide 1BR median of $1,400. The month's figures are based on 493 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. May 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $960 | −$53 (-5.3%) | −$179 (-15.8%) | $944 – $1,178 | 10 |
| Studio | $988 | −$25 (-2.5%) | −$151 (-13.3%) | $949 – $1,178 | 20 |
| 1BR | $1,948 | +$148 (+8.2%) | +$73 (+3.9%) | $1,881 – $2,134 | 6 |
| 1BR | $1,900 | +$100 (+5.6%) | +$25 (+1.3%) | $1,370 – $2,153 | 156 |
| 2BR | $2,725 | +$525 (+23.9%) | +$1,275 (+87.9%) | $2,584 – $2,805 | 10 |
| 2BR | $2,400 | +$200 (+9.1%) | +$950 (+65.5%) | $1,595 – $2,800 | 135 |
| 3BR | $3,335 | +$1,183 (+55.0%) | +$235 (+7.6%) | $3,335 – $3,335 | 1 |
| 3BR | $2,000 | −$152 (-7.1%) | −$1,100 (-35.5%) | $1,845 – $3,234 | 135 |
| 4BR | $2,600 | $0 (0.0%) | −$700 (-21.2%) | $2,200 – $4,500 | 5 |
| 4BR | $2,600 | $0 (0.0%) | −$700 (-21.2%) | $2,090 – $3,650 | 11 |
Median, P25, and P75 are asking rents from listings posted in May 2023. Changes compare against the nearest prior month with data.
Chinatown vs. Chicago — May 2023
| Bedrooms | Chinatown Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $960 | $1,200 | −$240 (-20.0%) |
| Studio | $988 | $1,200 | −$212 (-17.7%) |
| 1BR | $1,948 | $1,400 | +$548 (+39.1%) |
| 1BR | $1,900 | $1,400 | +$500 (+35.7%) |
| 2BR | $2,725 | $1,698 | +$1,028 (+60.5%) |
| 2BR | $2,400 | $1,698 | +$703 (+41.4%) |
| 3BR | $3,335 | $2,300 | +$1,035 (+45.0%) |
| 3BR | $2,000 | $2,300 | −$300 (-13.0%) |
| 4BR | $2,600 | $2,548 | +$53 (+2.1%) |
| 4BR | $2,600 | $2,548 | +$53 (+2.1%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2023.