Monthly Rent Report
Norwood Park Rent Report — May 2023
Asking rents in ZIP 60646, Chicago, from 47 listings.
Median 1BR rent in Norwood Park was $1,275 in May 2023, down 7.3% (−$100) from April 2023 and up 42.5% year-over-year. The middle half of 1BR listings asked between $1,225 and $1,395. That puts Norwood Park $125 below the Chicago citywide 1BR median of $1,400. The month's figures are based on 47 listings across 10 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. May 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $935 | — | +$35 (+3.9%) | $935 – $935 | 2 |
| Studio | $935 | — | +$35 (+3.9%) | $935 – $935 | 1 |
| 1BR | $1,275 | −$100 (-7.3%) | +$380 (+42.5%) | $1,225 – $1,395 | 12 |
| 1BR | $1,350 | −$25 (-1.8%) | +$455 (+50.8%) | $1,275 – $1,425 | 2 |
| 2BR | $1,450 | −$200 (-12.1%) | +$175 (+13.7%) | $1,450 – $1,600 | 19 |
| 2BR | $1,600 | −$50 (-3.0%) | +$325 (+25.5%) | $1,548 – $1,600 | 3 |
| 3BR | $2,600 | $0 (0.0%) | −$550 (-17.5%) | $2,600 – $2,600 | 1 |
| 3BR | $2,600 | $0 (0.0%) | −$550 (-17.5%) | $2,500 – $2,815 | 5 |
| 4BR | $2,975 | — | — | $2,975 – $2,975 | 1 |
| 4BR | $3,195 | — | — | $3,195 – $3,195 | 1 |
Median, P25, and P75 are asking rents from listings posted in May 2023. Changes compare against the nearest prior month with data.
Norwood Park vs. Chicago — May 2023
| Bedrooms | Norwood Park Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $935 | $1,200 | −$265 (-22.1%) |
| Studio | $935 | $1,200 | −$265 (-22.1%) |
| 1BR | $1,275 | $1,400 | −$125 (-8.9%) |
| 1BR | $1,350 | $1,400 | −$50 (-3.6%) |
| 2BR | $1,450 | $1,698 | −$247 (-14.6%) |
| 2BR | $1,600 | $1,698 | −$97 (-5.7%) |
| 3BR | $2,600 | $2,300 | +$300 (+13.0%) |
| 3BR | $2,600 | $2,300 | +$300 (+13.0%) |
| 4BR | $2,975 | $2,548 | +$428 (+16.8%) |
| 4BR | $3,195 | $2,548 | +$648 (+25.4%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2023.