Monthly Rent Report
Garfield Park Rent Report — May 2023
Asking rents in ZIP 60624, Chicago, from 155 listings.
Median 1BR rent in Garfield Park was $1,050 in May 2023, down 10.6% (−$125) from April 2023 and down 4.5% year-over-year. The middle half of 1BR listings asked between $925 and $1,099. That puts Garfield Park $350 below the Chicago citywide 1BR median of $1,400. The month's figures are based on 155 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. May 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $800 | $0 (0.0%) | −$236 (-22.8%) | $785 – $1,443 | 7 |
| Studio | $800 | $0 (0.0%) | −$236 (-22.8%) | $800 – $800 | 1 |
| 1BR | $1,050 | −$125 (-10.6%) | −$50 (-4.5%) | $925 – $1,099 | 10 |
| 1BR | $900 | −$275 (-23.4%) | −$200 (-18.2%) | $900 – $900 | 1 |
| 2BR | $895 | −$355 (-28.4%) | −$330 (-26.9%) | $895 – $895 | 1 |
| 2BR | $1,225 | −$25 (-2.0%) | $0 (0.0%) | $1,150 – $1,300 | 49 |
| 3BR | $1,350 | −$150 (-10.0%) | −$50 (-3.6%) | $1,350 – $1,350 | 1 |
| 3BR | $1,600 | +$100 (+6.7%) | +$200 (+14.3%) | $1,425 – $1,675 | 57 |
| 4BR | $1,780 | +$230 (+14.8%) | +$265 (+17.5%) | $1,475 – $1,920 | 24 |
| 4BR | $1,500 | −$50 (-3.2%) | −$15 (-1.0%) | $1,500 – $1,500 | 1 |
Median, P25, and P75 are asking rents from listings posted in May 2023. Changes compare against the nearest prior month with data.
Garfield Park vs. Chicago — May 2023
| Bedrooms | Garfield Park Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $800 | $1,200 | −$400 (-33.3%) |
| Studio | $800 | $1,200 | −$400 (-33.3%) |
| 1BR | $1,050 | $1,400 | −$350 (-25.0%) |
| 1BR | $900 | $1,400 | −$500 (-35.7%) |
| 2BR | $895 | $1,698 | −$802 (-47.3%) |
| 2BR | $1,225 | $1,698 | −$472 (-27.8%) |
| 3BR | $1,350 | $2,300 | −$950 (-41.3%) |
| 3BR | $1,600 | $2,300 | −$700 (-30.4%) |
| 4BR | $1,780 | $2,548 | −$767 (-30.1%) |
| 4BR | $1,500 | $2,548 | −$1,047 (-41.1%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2023.