Monthly Rent Report
South Loop Rent Report — April 2023
Asking rents in ZIP 60601, Chicago, from 1,063 listings.
Median 1BR rent in South Loop was $2,013 in April 2023, down 27.3% (−$755) from March 2023 and down 32.1% year-over-year. The middle half of 1BR listings asked between $1,907 and $2,219. That puts South Loop $588 above the Chicago citywide 1BR median of $1,425. The month's figures are based on 1,063 listings across 11 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. March 2023 | Vs. April 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $2,226 | +$21 (+1.0%) | −$301 (-11.9%) | $1,971 – $2,406 | 288 |
| Studio | $1,939 | −$266 (-12.1%) | −$588 (-23.3%) | $1,938 – $1,939 | 2 |
| 1BR | $2,013 | −$755 (-27.3%) | −$949 (-32.1%) | $1,907 – $2,219 | 12 |
| 1BR | $2,717 | −$51 (-1.8%) | −$245 (-8.3%) | $2,503 – $2,995 | 439 |
| 2BR | $4,000 | +$562 (+16.3%) | −$695 (-14.8%) | $4,000 – $4,000 | 1 |
| 2BR | $3,913 | +$475 (+13.8%) | −$782 (-16.7%) | $3,500 – $4,300 | 258 |
| 3BR | $6,500 | +$965 (+17.4%) | −$1,084 (-14.3%) | $6,500 – $6,500 | 1 |
| 3BR | $7,489 | +$1,954 (+35.3%) | −$95 (-1.3%) | $4,890 – $10,150 | 52 |
| 4BR | $11,850 | — | −$150 (-1.3%) | $11,850 – $11,850 | 4 |
| 4BR | $11,850 | — | −$150 (-1.3%) | $11,850 – $11,850 | 4 |
Median, P25, and P75 are asking rents from listings posted in April 2023. Changes compare against the nearest prior month with data.
South Loop vs. Chicago — April 2023
| Bedrooms | South Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $2,226 | $1,195 | +$1,031 (+86.3%) |
| Studio | $1,939 | $1,195 | +$744 (+62.2%) |
| 1BR | $2,013 | $1,425 | +$588 (+41.2%) |
| 1BR | $2,717 | $1,425 | +$1,292 (+90.7%) |
| 2BR | $4,000 | $1,725 | +$2,275 (+131.9%) |
| 2BR | $3,913 | $1,725 | +$2,188 (+126.8%) |
| 3BR | $6,500 | $2,300 | +$4,200 (+182.6%) |
| 3BR | $7,489 | $2,300 | +$5,189 (+225.6%) |
| 4BR | $11,850 | $2,597 | +$9,253 (+356.3%) |
| 4BR | $11,850 | $2,597 | +$9,253 (+356.3%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in April 2023.