Monthly Rent Report
Loop Rent Report — May 2023
Asking rents in ZIP 60603, Chicago, from 72 listings.
Median 1BR rent in Loop was $2,245 in May 2023, down 4.4% (−$104) from April 2023 and down 4.5% year-over-year. The middle half of 1BR listings asked between $2,025 and $2,295. That puts Loop $845 above the Chicago citywide 1BR median of $1,400. The month's figures are based on 72 listings across 8 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. May 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $1,767 | +$97 (+5.8%) | +$45 (+2.6%) | $1,645 – $1,895 | 9 |
| Studio | $1,749 | +$79 (+4.7%) | +$27 (+1.5%) | $1,645 – $1,895 | 5 |
| 1BR | $2,245 | −$104 (-4.4%) | −$105 (-4.5%) | $2,025 – $2,295 | 29 |
| 1BR | $2,175 | −$174 (-7.4%) | −$175 (-7.4%) | $1,945 – $2,295 | 15 |
| 2BR | $3,800 | +$1,940 (+104.3%) | $0 (0.0%) | $3,289 – $3,950 | 10 |
| 2BR | $3,800 | +$1,940 (+104.3%) | $0 (0.0%) | $3,800 – $3,800 | 1 |
| 3BR | $1,600 | — | — | $1,600 – $1,600 | 2 |
| 3BR | $1,600 | — | — | $1,600 – $1,600 | 1 |
Median, P25, and P75 are asking rents from listings posted in May 2023. Changes compare against the nearest prior month with data.
Loop vs. Chicago — May 2023
| Bedrooms | Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $1,767 | $1,200 | +$567 (+47.3%) |
| Studio | $1,749 | $1,200 | +$549 (+45.8%) |
| 1BR | $2,245 | $1,400 | +$845 (+60.4%) |
| 1BR | $2,175 | $1,400 | +$775 (+55.4%) |
| 2BR | $3,800 | $1,698 | +$2,103 (+123.9%) |
| 2BR | $3,800 | $1,698 | +$2,103 (+123.9%) |
| 3BR | $1,600 | $2,300 | −$700 (-30.4%) |
| 3BR | $1,600 | $2,300 | −$700 (-30.4%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2023.