Monthly Rent Report
River North Rent Report — May 2023
Asking rents in ZIP 60654, Chicago, from 1,105 listings.
Median 1BR rent in River North was $2,525 in May 2023, down 8.2% (−$225) from April 2023 and down 3.3% year-over-year. The middle half of 1BR listings asked between $2,480 and $3,069. That puts River North $1,125 above the Chicago citywide 1BR median of $1,400. The month's figures are based on 1,105 listings across 10 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. May 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $2,246 | −$62 (-2.7%) | +$496 (+28.3%) | $2,058 – $2,462 | 211 |
| Studio | $2,117 | −$191 (-8.3%) | +$367 (+20.9%) | $1,936 – $2,296 | 4 |
| 1BR | $2,525 | −$225 (-8.2%) | −$87 (-3.3%) | $2,480 – $3,069 | 10 |
| 1BR | $2,800 | +$50 (+1.8%) | +$188 (+7.2%) | $2,550 – $3,162 | 473 |
| 2BR | $3,450 | −$554 (-13.8%) | +$250 (+7.8%) | $3,062 – $3,725 | 7 |
| 2BR | $3,999 | −$5 (-0.1%) | +$799 (+25.0%) | $3,600 – $4,604 | 307 |
| 3BR | $6,349 | −$108 (-1.7%) | −$3,651 (-36.5%) | $6,349 – $6,349 | 1 |
| 3BR | $7,173 | +$716 (+11.1%) | −$2,827 (-28.3%) | $5,445 – $8,729 | 86 |
| 4BR | $4,800 | — | +$300 (+6.7%) | $4,700 – $4,800 | 3 |
| 4BR | $4,800 | — | +$300 (+6.7%) | $4,700 – $4,800 | 3 |
Median, P25, and P75 are asking rents from listings posted in May 2023. Changes compare against the nearest prior month with data.
River North vs. Chicago — May 2023
| Bedrooms | River North Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $2,246 | $1,200 | +$1,046 (+87.2%) |
| Studio | $2,117 | $1,200 | +$917 (+76.4%) |
| 1BR | $2,525 | $1,400 | +$1,125 (+80.4%) |
| 1BR | $2,800 | $1,400 | +$1,400 (+100.0%) |
| 2BR | $3,450 | $1,698 | +$1,753 (+103.2%) |
| 2BR | $3,999 | $1,698 | +$2,302 (+135.6%) |
| 3BR | $6,349 | $2,300 | +$4,049 (+176.0%) |
| 3BR | $7,173 | $2,300 | +$4,873 (+211.9%) |
| 4BR | $4,800 | $2,548 | +$2,253 (+88.4%) |
| 4BR | $4,800 | $2,548 | +$2,253 (+88.4%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2023.