Monthly Rent Report
South Loop Rent Report — January 2023
Asking rents in ZIP 60601, Chicago, from 2,793 listings.
Median 1BR rent in South Loop was $2,425 in January 2023, down 8.0% (−$210) from December 2022 and up 39.0% year-over-year. The middle half of 1BR listings asked between $2,313 and $2,538. That puts South Loop $1,075 above the Chicago citywide 1BR median of $1,350. The month's figures are based on 2,793 listings across 8 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. December 2022 | Vs. January 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $2,058 | −$49 (-2.3%) | −$88 (-4.1%) | $1,890 – $2,251 | 1,068 |
| Studio | $1,922 | −$185 (-8.8%) | −$224 (-10.4%) | $1,922 – $1,922 | 1 |
| 1BR | $2,425 | −$210 (-8.0%) | +$680 (+39.0%) | $2,313 – $2,538 | 2 |
| 1BR | $2,579 | −$56 (-2.1%) | +$834 (+47.8%) | $2,282 – $2,911 | 1,038 |
| 2BR | $3,586 | −$76 (-2.1%) | −$1,341 (-27.2%) | $3,188 – $3,793 | 3 |
| 2BR | $3,546 | −$116 (-3.2%) | −$1,381 (-28.0%) | $3,106 – $4,282 | 570 |
| 3BR | $5,009 | −$1,016 (-16.9%) | +$1,464 (+41.3%) | $4,725 – $5,725 | 110 |
| 3BR | $7,000 | +$975 (+16.2%) | +$3,455 (+97.5%) | $7,000 – $7,000 | 1 |
Median, P25, and P75 are asking rents from listings posted in January 2023. Changes compare against the nearest prior month with data.
South Loop vs. Chicago — January 2023
| Bedrooms | South Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $2,058 | $1,061 | +$997 (+93.9%) |
| Studio | $1,922 | $1,061 | +$861 (+81.1%) |
| 1BR | $2,425 | $1,350 | +$1,075 (+79.6%) |
| 1BR | $2,579 | $1,350 | +$1,229 (+91.0%) |
| 2BR | $3,586 | $1,698 | +$1,889 (+111.3%) |
| 2BR | $3,546 | $1,698 | +$1,849 (+108.9%) |
| 3BR | $5,009 | $2,123 | +$2,887 (+136.0%) |
| 3BR | $7,000 | $2,123 | +$4,878 (+229.8%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in January 2023.