Monthly Rent Report
Chinatown Rent Report — August 2024
Asking rents in ZIP 60616, Chicago, from 158 listings.
Median 1BR rent in Chinatown was $2,598 in August 2024, up 83.7% (+$1,184) from July 2024 and up 33.9% year-over-year. The middle half of 1BR listings asked between $2,335 and $2,861. That puts Chinatown $1,060 above the Chicago citywide 1BR median of $1,538. The month's figures are based on 158 listings across 7 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. July 2024 | Vs. August 2023 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $1,178 | −$87 (-6.9%) | −$200 (-14.5%) | $1,046 – $1,356 | 136 |
| 1BR | $2,598 | +$1,184 (+83.7%) | +$658 (+33.9%) | $2,335 – $2,861 | 2 |
| 2BR | $1,300 | −$1,100 (-45.8%) | −$1,462 (-52.9%) | $1,300 – $1,300 | 1 |
| 2BR | $2,400 | $0 (0.0%) | −$362 (-13.1%) | $2,400 – $2,400 | 2 |
| 3BR | $2,100 | −$50 (-2.3%) | −$1,020 (-32.7%) | $1,813 – $3,071 | 14 |
| 4BR | $4,375 | +$1,975 (+82.3%) | +$2,122 (+94.2%) | $3,588 – $5,163 | 2 |
Median, P25, and P75 are asking rents from listings posted in August 2024. Changes compare against the nearest prior month with data.
Chinatown vs. Chicago — August 2024
| Bedrooms | Chinatown Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $1,178 | $1,190 | −$12 (-1.0%) |
| 1BR | $2,598 | $1,538 | +$1,060 (+68.9%) |
| 2BR | $1,300 | $1,823 | −$522 (-28.7%) |
| 2BR | $2,400 | $1,823 | +$578 (+31.7%) |
| 3BR | $2,100 | $2,300 | −$200 (-8.7%) |
| 4BR | $4,375 | $2,995 | +$1,380 (+46.1%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in August 2024.