Monthly Rent Report
South Loop Rent Report — August 2023
Asking rents in ZIP 60601, Chicago, from 178 listings.
Median 1BR rent in South Loop was $2,185 in August 2023, down 40.4% (−$1,483) from July 2023 and down 22.0% year-over-year. The middle half of 1BR listings asked between $2,185 and $2,185. That puts South Loop $665 above the Chicago citywide 1BR median of $1,520. The month's figures are based on 178 listings across 10 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. July 2023 | Vs. August 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $2,439 | +$728 (+42.5%) | +$134 (+5.8%) | $2,422 – $2,467 | 9 |
| Studio | $2,252 | +$541 (+31.6%) | −$53 (-2.3%) | $2,252 – $2,252 | 2 |
| 1BR | $2,185 | −$1,483 (-40.4%) | −$615 (-22.0%) | $2,185 – $2,185 | 1 |
| 1BR | $2,811 | −$857 (-23.4%) | +$11 (+0.4%) | $2,619 – $2,961 | 92 |
| 2BR | $3,980 | −$26 (-0.6%) | −$497 (-11.1%) | $3,723 – $4,306 | 59 |
| 2BR | $4,208 | +$202 (+5.0%) | −$269 (-6.0%) | $3,929 – $4,486 | 2 |
| 3BR | $5,811 | −$99 (-1.7%) | −$1,096 (-15.9%) | $5,797 – $6,103 | 10 |
| 3BR | $5,950 | +$40 (+0.7%) | −$957 (-13.9%) | $5,950 – $5,950 | 1 |
| 4BR | $12,000 | +$150 (+1.3%) | +$316 (+2.7%) | $12,000 – $12,000 | 1 |
| 4BR | $12,000 | +$150 (+1.3%) | +$316 (+2.7%) | $12,000 – $12,000 | 1 |
Median, P25, and P75 are asking rents from listings posted in August 2023. Changes compare against the nearest prior month with data.
South Loop vs. Chicago — August 2023
| Bedrooms | South Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $2,439 | $1,250 | +$1,189 (+95.1%) |
| Studio | $2,252 | $1,250 | +$1,002 (+80.2%) |
| 1BR | $2,185 | $1,520 | +$665 (+43.8%) |
| 1BR | $2,811 | $1,520 | +$1,291 (+84.9%) |
| 2BR | $3,980 | $1,808 | +$2,173 (+120.2%) |
| 2BR | $4,208 | $1,808 | +$2,400 (+132.8%) |
| 3BR | $5,811 | $2,395 | +$3,416 (+142.6%) |
| 3BR | $5,950 | $2,395 | +$3,555 (+148.4%) |
| 4BR | $12,000 | $2,692 | +$9,308 (+345.8%) |
| 4BR | $12,000 | $2,692 | +$9,308 (+345.8%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in August 2023.