Monthly Rent Report
South Loop Rent Report — May 2024
Asking rents in ZIP 60601, Chicago, from 1,750 listings.
Median 1BR rent in South Loop was $2,683 in May 2024, up 37.4% (+$731) from April 2024 and up 32.2% year-over-year. The middle half of 1BR listings asked between $2,415 and $2,875. That puts South Loop $1,181 above the Chicago citywide 1BR median of $1,503. The month's figures are based on 1,750 listings across 10 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2024 | Vs. May 2023 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $2,197 | −$15 (-0.7%) | +$648 (+41.8%) | $1,998 – $2,398 | 393 |
| Studio | $1,801 | −$411 (-18.6%) | +$252 (+16.3%) | $1,801 – $1,801 | 1 |
| 1BR | $2,683 | +$731 (+37.4%) | +$654 (+32.2%) | $2,415 – $2,875 | 897 |
| 1BR | $1,831 | −$121 (-6.2%) | −$198 (-9.8%) | $1,768 – $1,904 | 4 |
| 2BR | $3,982 | −$8 (-0.2%) | −$418 (-9.5%) | $3,572 – $4,293 | 382 |
| 2BR | $4,050 | +$60 (+1.5%) | −$350 (-8.0%) | $3,975 – $4,125 | 2 |
| 3BR | $5,868 | −$104 (-1.7%) | +$46 (+0.8%) | $5,809 – $5,927 | 2 |
| 3BR | $5,399 | −$573 (-9.6%) | −$423 (-7.3%) | $4,800 – $7,995 | 53 |
| 4BR | $10,700 | −$700 (-6.1%) | −$1,150 (-9.7%) | $7,825 – $11,400 | 8 |
| 4BR | $10,700 | −$700 (-6.1%) | −$1,150 (-9.7%) | $7,825 – $11,400 | 8 |
Median, P25, and P75 are asking rents from listings posted in May 2024. Changes compare against the nearest prior month with data.
South Loop vs. Chicago — May 2024
| Bedrooms | South Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $2,197 | $1,196 | +$1,001 (+83.7%) |
| Studio | $1,801 | $1,196 | +$605 (+50.6%) |
| 1BR | $2,683 | $1,503 | +$1,181 (+78.6%) |
| 1BR | $1,831 | $1,503 | +$328 (+21.8%) |
| 2BR | $3,982 | $1,825 | +$2,157 (+118.2%) |
| 2BR | $4,050 | $1,825 | +$2,225 (+121.9%) |
| 3BR | $5,868 | $2,236 | +$3,632 (+162.4%) |
| 3BR | $5,399 | $2,236 | +$3,163 (+141.5%) |
| 4BR | $10,700 | $2,725 | +$7,975 (+292.7%) |
| 4BR | $10,700 | $2,725 | +$7,975 (+292.7%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2024.