Monthly Rent Report
Norwood Park Rent Report — May 2024
Asking rents in ZIP 60646, Chicago, from 90 listings.
Median 1BR rent in Norwood Park was $1,500 in May 2024, up 8.1% (+$113) from April 2024 and up 17.6% year-over-year. The middle half of 1BR listings asked between $1,400 and $1,550. That puts Norwood Park in line with the Chicago citywide 1BR median of $1,503. The month's figures are based on 90 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2024 | Vs. May 2023 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $950 | −$275 (-22.4%) | +$15 (+1.6%) | $950 – $1,019 | 4 |
| Studio | $950 | −$275 (-22.4%) | +$15 (+1.6%) | $950 – $950 | 1 |
| 1BR | $1,500 | +$113 (+8.1%) | +$225 (+17.6%) | $1,400 – $1,550 | 13 |
| 1BR | $1,500 | +$113 (+8.1%) | +$225 (+17.6%) | $1,400 – $1,550 | 13 |
| 2BR | $1,800 | −$50 (-2.7%) | +$200 (+12.5%) | $1,600 – $2,000 | 35 |
| 2BR | $1,495 | −$355 (-19.2%) | −$105 (-6.6%) | $1,495 – $1,495 | 2 |
| 3BR | $2,200 | $0 (0.0%) | −$400 (-15.4%) | $1,950 – $3,400 | 17 |
| 3BR | $2,222 | +$22 (+1.0%) | −$378 (-14.5%) | $2,222 – $2,222 | 1 |
| 4BR | $3,750 | — | +$555 (+17.4%) | $3,750 – $3,750 | 1 |
| 4BR | $3,750 | — | +$555 (+17.4%) | $3,750 – $3,750 | 1 |
Median, P25, and P75 are asking rents from listings posted in May 2024. Changes compare against the nearest prior month with data.
Norwood Park vs. Chicago — May 2024
| Bedrooms | Norwood Park Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $950 | $1,196 | −$246 (-20.6%) |
| Studio | $950 | $1,196 | −$246 (-20.6%) |
| 1BR | $1,500 | $1,503 | −$2 (-0.2%) |
| 1BR | $1,500 | $1,503 | −$2 (-0.2%) |
| 2BR | $1,800 | $1,825 | −$25 (-1.4%) |
| 2BR | $1,495 | $1,825 | −$330 (-18.1%) |
| 3BR | $2,200 | $2,236 | −$36 (-1.6%) |
| 3BR | $2,222 | $2,236 | −$14 (-0.6%) |
| 4BR | $3,750 | $2,725 | +$1,025 (+37.6%) |
| 4BR | $3,750 | $2,725 | +$1,025 (+37.6%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2024.