Monthly Rent Report
South Loop Rent Report — July 2023
Asking rents in ZIP 60601, Chicago, from 294 listings.
Median 1BR rent in South Loop was $3,668 in July 2023, up 91.5% (+$1,753) from June 2023 and up 16.9% year-over-year. The middle half of 1BR listings asked between $3,668 and $3,668. That puts South Loop $2,218 above the Chicago citywide 1BR median of $1,450. The month's figures are based on 294 listings across 10 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. June 2023 | Vs. July 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $1,712 | −$245 (-12.5%) | −$643 (-27.3%) | $1,498 – $1,947 | 4 |
| Studio | $2,306 | +$349 (+17.8%) | −$49 (-2.1%) | $2,100 – $2,454 | 91 |
| 1BR | $3,668 | +$1,753 (+91.5%) | +$529 (+16.9%) | $3,668 – $3,668 | 1 |
| 1BR | $2,755 | +$840 (+43.9%) | −$384 (-12.2%) | $2,564 – $3,049 | 109 |
| 2BR | $4,006 | −$7 (-0.2%) | −$107 (-2.6%) | $3,750 – $4,512 | 59 |
| 2BR | $2,798 | −$1,215 (-30.3%) | −$1,315 (-32.0%) | $2,798 – $3,189 | 13 |
| 3BR | $7,750 | +$1,417 (+22.4%) | −$348 (-4.3%) | $7,750 – $7,750 | 1 |
| 3BR | $5,910 | −$423 (-6.7%) | −$2,188 (-27.0%) | $5,795 – $8,035 | 14 |
| 4BR | $11,850 | $0 (0.0%) | +$282 (+2.4%) | $11,850 – $11,850 | 1 |
| 4BR | $11,850 | $0 (0.0%) | +$282 (+2.4%) | $11,850 – $11,850 | 1 |
Median, P25, and P75 are asking rents from listings posted in July 2023. Changes compare against the nearest prior month with data.
South Loop vs. Chicago — July 2023
| Bedrooms | South Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $1,712 | $1,200 | +$512 (+42.6%) |
| Studio | $2,306 | $1,200 | +$1,106 (+92.2%) |
| 1BR | $3,668 | $1,450 | +$2,218 (+153.0%) |
| 1BR | $2,755 | $1,450 | +$1,305 (+90.0%) |
| 2BR | $4,006 | $1,795 | +$2,211 (+123.2%) |
| 2BR | $2,798 | $1,795 | +$1,003 (+55.9%) |
| 3BR | $7,750 | $2,273 | +$5,478 (+241.0%) |
| 3BR | $5,910 | $2,273 | +$3,638 (+160.1%) |
| 4BR | $11,850 | $2,709 | +$9,142 (+337.5%) |
| 4BR | $11,850 | $2,709 | +$9,142 (+337.5%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in July 2023.