Monthly Rent Report
South Loop Rent Report — March 2023
Asking rents in ZIP 60601, Chicago, from 815 listings.
Median 1BR rent in South Loop was $2,768 in March 2023, up 3.2% (+$86) from February 2023 and down 3.4% year-over-year. The middle half of 1BR listings asked between $2,486 and $3,000. That puts South Loop $1,372 above the Chicago citywide 1BR median of $1,396. The month's figures are based on 815 listings across 8 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. February 2023 | Vs. March 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $2,205 | +$83 (+3.9%) | −$41 (-1.8%) | $1,932 – $2,386 | 241 |
| Studio | $1,650 | −$472 (-22.2%) | −$596 (-26.5%) | $1,650 – $1,650 | 1 |
| 1BR | $2,768 | +$86 (+3.2%) | −$98 (-3.4%) | $2,486 – $3,000 | 306 |
| 1BR | $1,931 | −$751 (-28.0%) | −$935 (-32.6%) | $1,764 – $2,104 | 33 |
| 2BR | $3,438 | +$90 (+2.7%) | −$1,210 (-26.0%) | $3,422 – $4,000 | 5 |
| 2BR | $3,750 | +$402 (+12.0%) | −$898 (-19.3%) | $3,471 – $4,197 | 199 |
| 3BR | $6,750 | +$1,750 (+35.0%) | +$250 (+3.8%) | $6,625 – $6,875 | 2 |
| 3BR | $5,535 | +$535 (+10.7%) | −$965 (-14.8%) | $4,595 – $9,825 | 28 |
Median, P25, and P75 are asking rents from listings posted in March 2023. Changes compare against the nearest prior month with data.
South Loop vs. Chicago — March 2023
| Bedrooms | South Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $2,205 | $1,204 | +$1,001 (+83.2%) |
| Studio | $1,650 | $1,204 | +$446 (+37.1%) |
| 1BR | $2,768 | $1,396 | +$1,372 (+98.2%) |
| 1BR | $1,931 | $1,396 | +$535 (+38.3%) |
| 2BR | $3,438 | $1,698 | +$1,741 (+102.5%) |
| 2BR | $3,750 | $1,698 | +$2,053 (+120.9%) |
| 3BR | $6,750 | $2,200 | +$4,550 (+206.8%) |
| 3BR | $5,535 | $2,200 | +$3,335 (+151.6%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in March 2023.