Monthly Rent Report
Loop Rent Report — August 2023
Asking rents in ZIP 60603, Chicago, from 50 listings.
Median 1BR rent in Loop was $2,050 in August 2023, down 8.8% (−$197) from July 2023 and up 20.9% year-over-year. The middle half of 1BR listings asked between $1,838 and $2,317. That puts Loop $530 above the Chicago citywide 1BR median of $1,520. The month's figures are based on 50 listings across 6 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. July 2023 | Vs. August 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $1,800 | −$150 (-7.7%) | −$372 (-17.1%) | $1,720 – $1,850 | 7 |
| Studio | $1,950 | $0 (0.0%) | −$222 (-10.2%) | $1,850 – $1,975 | 5 |
| 1BR | $2,050 | −$197 (-8.8%) | +$355 (+20.9%) | $1,838 – $2,317 | 15 |
| 1BR | $2,150 | −$97 (-4.3%) | +$455 (+26.8%) | $1,945 – $2,210 | 15 |
| 2BR | $3,295 | +$73 (+2.2%) | +$1,050 (+46.8%) | $2,868 – $3,449 | 6 |
| 2BR | $3,295 | +$73 (+2.2%) | +$1,050 (+46.8%) | $3,295 – $3,295 | 2 |
Median, P25, and P75 are asking rents from listings posted in August 2023. Changes compare against the nearest prior month with data.
Loop vs. Chicago — August 2023
| Bedrooms | Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $1,800 | $1,250 | +$550 (+44.0%) |
| Studio | $1,950 | $1,250 | +$700 (+56.0%) |
| 1BR | $2,050 | $1,520 | +$530 (+34.9%) |
| 1BR | $2,150 | $1,520 | +$630 (+41.4%) |
| 2BR | $3,295 | $1,808 | +$1,488 (+82.3%) |
| 2BR | $3,295 | $1,808 | +$1,488 (+82.3%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in August 2023.