Monthly Rent Report
Loop Rent Report — May 2024
Asking rents in ZIP 60603, Chicago, from 230 listings.
Median 1BR rent in Loop was $2,090 in May 2024, down 4.6% (−$100) from April 2024 and down 3.9% year-over-year. The middle half of 1BR listings asked between $1,959 and $2,278. That puts Loop $588 above the Chicago citywide 1BR median of $1,503. The month's figures are based on 230 listings across 6 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2024 | Vs. May 2023 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $1,955 | +$113 (+6.1%) | +$206 (+11.8%) | $1,895 – $2,010 | 37 |
| Studio | $1,955 | +$113 (+6.1%) | +$206 (+11.8%) | $1,895 – $2,010 | 37 |
| 1BR | $2,090 | −$100 (-4.6%) | −$85 (-3.9%) | $1,959 – $2,278 | 62 |
| 1BR | $2,090 | −$100 (-4.6%) | −$85 (-3.9%) | $1,959 – $2,278 | 62 |
| 2BR | $3,200 | −$300 (-8.6%) | −$600 (-15.8%) | $3,075 – $3,684 | 16 |
| 2BR | $3,200 | −$300 (-8.6%) | −$600 (-15.8%) | $3,075 – $3,684 | 16 |
Median, P25, and P75 are asking rents from listings posted in May 2024. Changes compare against the nearest prior month with data.
Loop vs. Chicago — May 2024
| Bedrooms | Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $1,955 | $1,196 | +$759 (+63.5%) |
| Studio | $1,955 | $1,196 | +$759 (+63.5%) |
| 1BR | $2,090 | $1,503 | +$588 (+39.1%) |
| 1BR | $2,090 | $1,503 | +$588 (+39.1%) |
| 2BR | $3,200 | $1,825 | +$1,375 (+75.3%) |
| 2BR | $3,200 | $1,825 | +$1,375 (+75.3%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2024.