Monthly Rent Report
South Loop Rent Report — February 2023
Asking rents in ZIP 60601, Chicago, from 908 listings.
Median 1BR rent in South Loop was $2,682 in February 2023, up 4.0% (+$103) from January 2023 and up 11.8% year-over-year. The middle half of 1BR listings asked between $2,406 and $3,021. That puts South Loop $1,282 above the Chicago citywide 1BR median of $1,400. The month's figures are based on 908 listings across 8 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. January 2023 | Vs. February 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $1,603 | −$455 (-22.1%) | −$608 (-27.5%) | $1,586 – $1,613 | 7 |
| Studio | $2,122 | +$64 (+3.1%) | −$89 (-4.0%) | $1,888 – $2,375 | 266 |
| 1BR | $2,682 | +$103 (+4.0%) | +$282 (+11.8%) | $2,406 – $3,021 | 360 |
| 1BR | $3,850 | +$1,271 (+49.3%) | +$1,450 (+60.4%) | $3,850 – $3,850 | 1 |
| 2BR | $3,849 | +$303 (+8.5%) | −$978 (-20.3%) | $3,395 – $4,313 | 235 |
| 2BR | $3,348 | −$198 (-5.6%) | −$1,479 (-30.6%) | $3,348 – $3,348 | 1 |
| 3BR | $5,161 | −$1,839 (-26.3%) | −$736 (-12.5%) | $4,630 – $7,076 | 37 |
| 3BR | $5,000 | −$2,000 (-28.6%) | −$897 (-15.2%) | $5,000 – $5,000 | 1 |
Median, P25, and P75 are asking rents from listings posted in February 2023. Changes compare against the nearest prior month with data.
South Loop vs. Chicago — February 2023
| Bedrooms | South Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $1,603 | $1,149 | +$454 (+39.5%) |
| Studio | $2,122 | $1,149 | +$973 (+84.7%) |
| 1BR | $2,682 | $1,400 | +$1,282 (+91.6%) |
| 1BR | $3,850 | $1,400 | +$2,450 (+175.0%) |
| 2BR | $3,849 | $1,695 | +$2,154 (+127.1%) |
| 2BR | $3,348 | $1,695 | +$1,653 (+97.5%) |
| 3BR | $5,161 | $2,188 | +$2,974 (+135.9%) |
| 3BR | $5,000 | $2,188 | +$2,813 (+128.6%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in February 2023.