Monthly Rent Report
South Loop Rent Report — May 2023
Asking rents in ZIP 60601, Chicago, from 663 listings.
Median 1BR rent in South Loop was $2,029 in May 2023, down 25.3% (−$688) from April 2023 and down 37.0% year-over-year. The middle half of 1BR listings asked between $1,994 and $2,086. That puts South Loop $629 above the Chicago citywide 1BR median of $1,400. The month's figures are based on 663 listings across 10 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. May 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $1,549 | −$677 (-30.4%) | −$1,011 (-39.5%) | $1,527 – $1,580 | 4 |
| Studio | $2,319 | +$93 (+4.2%) | −$241 (-9.4%) | $2,079 – $2,448 | 174 |
| 1BR | $2,029 | −$688 (-25.3%) | −$1,192 (-37.0%) | $1,994 – $2,086 | 30 |
| 1BR | $2,739 | +$22 (+0.8%) | −$482 (-15.0%) | $2,500 – $3,088 | 261 |
| 2BR | $3,956 | −$44 (-1.1%) | −$1,226 (-23.7%) | $3,632 – $4,300 | 153 |
| 2BR | $4,400 | +$400 (+10.0%) | −$782 (-15.1%) | $4,400 – $4,400 | 2 |
| 3BR | $5,824 | −$676 (-10.4%) | −$1,538 (-20.9%) | $5,821 – $6,392 | 3 |
| 3BR | $5,822 | −$678 (-10.4%) | −$1,540 (-20.9%) | $5,094 – $7,060 | 34 |
| 4BR | $11,850 | $0 (0.0%) | −$1,150 (-8.8%) | $11,850 – $11,850 | 1 |
| 4BR | $11,850 | $0 (0.0%) | −$1,150 (-8.8%) | $11,850 – $11,850 | 1 |
Median, P25, and P75 are asking rents from listings posted in May 2023. Changes compare against the nearest prior month with data.
South Loop vs. Chicago — May 2023
| Bedrooms | South Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $1,549 | $1,200 | +$349 (+29.1%) |
| Studio | $2,319 | $1,200 | +$1,119 (+93.2%) |
| 1BR | $2,029 | $1,400 | +$629 (+44.9%) |
| 1BR | $2,739 | $1,400 | +$1,339 (+95.6%) |
| 2BR | $3,956 | $1,698 | +$2,259 (+133.0%) |
| 2BR | $4,400 | $1,698 | +$2,703 (+159.2%) |
| 3BR | $5,824 | $2,300 | +$3,524 (+153.2%) |
| 3BR | $5,822 | $2,300 | +$3,522 (+153.1%) |
| 4BR | $11,850 | $2,548 | +$9,303 (+365.2%) |
| 4BR | $11,850 | $2,548 | +$9,303 (+365.2%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2023.