Monthly Rent Report
Norwood Park Rent Report — July 2023
Asking rents in ZIP 60646, Chicago, from 23 listings.
Median 1BR rent in Norwood Park was $1,500 in July 2023, up 22.4% (+$275) from June 2023 and up 40.2% year-over-year. The middle half of 1BR listings asked between $1,500 and $1,500. That puts Norwood Park $50 above the Chicago citywide 1BR median of $1,450. The month's figures are based on 23 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. June 2023 | Vs. July 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $895 | — | — | $895 – $895 | 1 |
| Studio | $895 | — | — | $895 – $895 | 2 |
| 1BR | $1,500 | +$275 (+22.4%) | +$430 (+40.2%) | $1,500 – $1,500 | 3 |
| 1BR | $1,500 | +$275 (+22.4%) | +$430 (+40.2%) | $1,350 – $1,500 | 3 |
| 2BR | $1,495 | −$455 (-23.3%) | +$95 (+6.8%) | $1,400 – $1,700 | 5 |
| 2BR | $1,750 | −$200 (-10.3%) | +$350 (+25.0%) | $1,750 – $1,750 | 1 |
| 3BR | $2,600 | +$400 (+18.2%) | −$850 (-24.6%) | $2,600 – $2,600 | 1 |
| 3BR | $3,750 | +$1,550 (+70.5%) | +$300 (+8.7%) | $2,975 – $4,125 | 3 |
| 4BR | $2,800 | −$675 (-19.4%) | — | $2,800 – $2,800 | 1 |
| 4BR | $3,300 | −$175 (-5.0%) | — | $3,300 – $3,300 | 1 |
Median, P25, and P75 are asking rents from listings posted in July 2023. Changes compare against the nearest prior month with data.
Norwood Park vs. Chicago — July 2023
| Bedrooms | Norwood Park Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $895 | $1,200 | −$305 (-25.4%) |
| Studio | $895 | $1,200 | −$305 (-25.4%) |
| 1BR | $1,500 | $1,450 | +$50 (+3.4%) |
| 1BR | $1,500 | $1,450 | +$50 (+3.4%) |
| 2BR | $1,495 | $1,795 | −$300 (-16.7%) |
| 2BR | $1,750 | $1,795 | −$45 (-2.5%) |
| 3BR | $2,600 | $2,273 | +$328 (+14.4%) |
| 3BR | $3,750 | $2,273 | +$1,478 (+65.0%) |
| 4BR | $2,800 | $2,709 | +$92 (+3.4%) |
| 4BR | $3,300 | $2,709 | +$592 (+21.8%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in July 2023.