Monthly Rent Report
South Loop Rent Report — February 2024
Asking rents in ZIP 60601, Chicago, from 1,014 listings.
Median 1BR rent in South Loop was $2,562 in February 2024, up 1.6% (+$40) from January 2024 and down 33.5% year-over-year. The middle half of 1BR listings asked between $2,318 and $2,838. That puts South Loop $1,062 above the Chicago citywide 1BR median of $1,500. The month's figures are based on 1,014 listings across 10 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. January 2024 | Vs. February 2023 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $2,183 | +$138 (+6.7%) | +$61 (+2.9%) | $2,009 – $2,364 | 273 |
| Studio | $1,739 | −$306 (-15.0%) | −$383 (-18.0%) | $1,739 – $1,739 | 1 |
| 1BR | $2,562 | +$40 (+1.6%) | −$1,288 (-33.5%) | $2,318 – $2,838 | 472 |
| 1BR | $1,905 | −$617 (-24.5%) | −$1,945 (-50.5%) | $1,905 – $1,905 | 1 |
| 2BR | $3,821 | +$728 (+23.5%) | +$473 (+14.1%) | $3,441 – $4,052 | 211 |
| 2BR | $2,939 | −$154 (-5.0%) | −$409 (-12.2%) | $2,777 – $3,101 | 2 |
| 3BR | $5,553 | −$1,433 (-20.5%) | +$553 (+11.1%) | $3,970 – $6,848 | 46 |
| 3BR | $6,200 | −$786 (-11.3%) | +$1,200 (+24.0%) | $6,100 – $6,358 | 3 |
| 4BR | $11,400 | $0 (0.0%) | — | $11,400 – $11,400 | 2 |
| 4BR | $11,400 | $0 (0.0%) | — | $11,400 – $11,400 | 3 |
Median, P25, and P75 are asking rents from listings posted in February 2024. Changes compare against the nearest prior month with data.
South Loop vs. Chicago — February 2024
| Bedrooms | South Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $2,183 | $1,211 | +$972 (+80.2%) |
| Studio | $1,739 | $1,211 | +$528 (+43.6%) |
| 1BR | $2,562 | $1,500 | +$1,062 (+70.8%) |
| 1BR | $1,905 | $1,500 | +$405 (+27.0%) |
| 2BR | $3,821 | $1,813 | +$2,009 (+110.8%) |
| 2BR | $2,939 | $1,813 | +$1,127 (+62.2%) |
| 3BR | $5,553 | $2,300 | +$3,253 (+141.4%) |
| 3BR | $6,200 | $2,300 | +$3,900 (+169.6%) |
| 4BR | $11,400 | $2,792 | +$8,609 (+308.4%) |
| 4BR | $11,400 | $2,792 | +$8,609 (+308.4%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in February 2024.