Monthly Rent Report
Near West Side Rent Report — May 2023
Asking rents in ZIP 60612, Chicago, from 269 listings.
Median 1BR rent in Near West Side was $2,260 in May 2023, up 6.9% (+$145) from April 2023 and up 24.0% year-over-year. The middle half of 1BR listings asked between $1,898 and $2,398. That puts Near West Side $860 above the Chicago citywide 1BR median of $1,400. The month's figures are based on 269 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. May 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $1,939 | +$39 (+2.1%) | — | $1,848 – $2,048 | 15 |
| Studio | $1,965 | +$65 (+3.4%) | — | $1,835 – $2,059 | 26 |
| 1BR | $2,260 | +$145 (+6.9%) | +$438 (+24.0%) | $1,898 – $2,398 | 83 |
| 1BR | $2,100 | −$15 (-0.7%) | +$278 (+15.2%) | $2,075 – $2,125 | 2 |
| 2BR | $2,100 | −$72 (-3.3%) | −$200 (-8.7%) | $2,100 – $2,100 | 1 |
| 2BR | $1,995 | −$177 (-8.2%) | −$305 (-13.3%) | $1,995 – $1,995 | 1 |
| 3BR | $3,000 | +$1,650 (+122.2%) | +$600 (+25.0%) | $3,000 – $3,000 | 1 |
| 3BR | $2,445 | +$1,095 (+81.1%) | +$45 (+1.9%) | $2,100 – $3,000 | 111 |
| 4BR | $2,300 | −$622 (-21.3%) | +$650 (+39.4%) | $1,975 – $2,611 | 3 |
| 4BR | $2,750 | −$172 (-5.9%) | +$1,100 (+66.7%) | $2,350 – $3,738 | 22 |
Median, P25, and P75 are asking rents from listings posted in May 2023. Changes compare against the nearest prior month with data.
Near West Side vs. Chicago — May 2023
| Bedrooms | Near West Side Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $1,939 | $1,200 | +$739 (+61.6%) |
| Studio | $1,965 | $1,200 | +$765 (+63.7%) |
| 1BR | $2,260 | $1,400 | +$860 (+61.4%) |
| 1BR | $2,100 | $1,400 | +$700 (+50.0%) |
| 2BR | $2,100 | $1,698 | +$403 (+23.7%) |
| 2BR | $1,995 | $1,698 | +$298 (+17.5%) |
| 3BR | $3,000 | $2,300 | +$700 (+30.4%) |
| 3BR | $2,445 | $2,300 | +$145 (+6.3%) |
| 4BR | $2,300 | $2,548 | −$247 (-9.7%) |
| 4BR | $2,750 | $2,548 | +$203 (+7.9%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2023.