Monthly Rent Report
Chinatown Rent Report — May 2024
Asking rents in ZIP 60616, Chicago, from 870 listings.
Median 1BR rent in Chinatown was $1,549 in May 2024, up 11.6% (+$162) from April 2024 and down 20.5% year-over-year. The middle half of 1BR listings asked between $1,305 and $2,149. That puts Chinatown $47 above the Chicago citywide 1BR median of $1,503. The month's figures are based on 870 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2024 | Vs. May 2023 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $1,115 | −$20 (-1.8%) | +$155 (+16.1%) | $1,055 – $1,263 | 67 |
| Studio | $1,299 | +$164 (+14.4%) | +$339 (+35.3%) | $1,225 – $1,299 | 3 |
| 1BR | $1,549 | +$162 (+11.6%) | −$398 (-20.5%) | $1,305 – $2,149 | 310 |
| 1BR | $2,270 | +$883 (+63.6%) | +$323 (+16.6%) | $2,163 – $2,331 | 16 |
| 2BR | $2,498 | −$52 (-2.1%) | +$98 (+4.1%) | $1,770 – $2,841 | 288 |
| 2BR | $2,790 | +$240 (+9.4%) | +$390 (+16.3%) | $2,615 – $2,920 | 13 |
| 3BR | $4,100 | +$1,300 (+46.4%) | +$2,100 (+105.0%) | $4,100 – $4,100 | 1 |
| 3BR | $2,000 | −$800 (-28.6%) | $0 (0.0%) | $1,845 – $3,025 | 149 |
| 4BR | $2,800 | −$1,200 (-30.0%) | +$200 (+7.7%) | $2,700 – $2,888 | 3 |
| 4BR | $2,888 | −$1,112 (-27.8%) | +$288 (+11.1%) | $2,600 – $3,875 | 18 |
Median, P25, and P75 are asking rents from listings posted in May 2024. Changes compare against the nearest prior month with data.
Chinatown vs. Chicago — May 2024
| Bedrooms | Chinatown Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $1,115 | $1,196 | −$81 (-6.8%) |
| Studio | $1,299 | $1,196 | +$103 (+8.6%) |
| 1BR | $1,549 | $1,503 | +$47 (+3.1%) |
| 1BR | $2,270 | $1,503 | +$768 (+51.1%) |
| 2BR | $2,498 | $1,825 | +$673 (+36.8%) |
| 2BR | $2,790 | $1,825 | +$965 (+52.9%) |
| 3BR | $4,100 | $2,236 | +$1,864 (+83.4%) |
| 3BR | $2,000 | $2,236 | −$236 (-10.6%) |
| 4BR | $2,800 | $2,725 | +$75 (+2.8%) |
| 4BR | $2,888 | $2,725 | +$163 (+6.0%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2024.