Monthly Rent Report
South Shore Rent Report — May 2023
Asking rents in ZIP 60649, Chicago, from 774 listings.
Median 1BR rent in South Shore was $950 in May 2023, flat versus April 2023 and down 2.6% year-over-year. The middle half of 1BR listings asked between $883 and $1,174. That puts South Shore $450 below the Chicago citywide 1BR median of $1,400. The month's figures are based on 774 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. May 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $825 | $0 (0.0%) | −$140 (-14.6%) | $825 – $825 | 1 |
| Studio | $850 | +$25 (+3.0%) | −$115 (-12.0%) | $775 – $950 | 70 |
| 1BR | $950 | $0 (0.0%) | −$25 (-2.6%) | $883 – $1,174 | 192 |
| 1BR | $1,441 | +$491 (+51.7%) | +$466 (+47.8%) | $1,372 – $1,442 | 4 |
| 2BR | $1,750 | +$600 (+52.2%) | +$550 (+45.8%) | $1,350 – $1,883 | 3 |
| 2BR | $1,283 | +$133 (+11.5%) | +$83 (+6.9%) | $1,150 – $1,355 | 336 |
| 3BR | $1,497 | +$22 (+1.5%) | +$1 (+0.0%) | $1,350 – $1,600 | 135 |
| 3BR | $1,195 | −$280 (-19.0%) | −$301 (-20.1%) | $1,195 – $1,195 | 1 |
| 4BR | $1,600 | +$24 (+1.5%) | −$366 (-18.6%) | $1,588 – $1,700 | 27 |
| 4BR | $1,840 | +$264 (+16.8%) | −$126 (-6.4%) | $1,770 – $1,910 | 2 |
Median, P25, and P75 are asking rents from listings posted in May 2023. Changes compare against the nearest prior month with data.
South Shore vs. Chicago — May 2023
| Bedrooms | South Shore Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $825 | $1,200 | −$375 (-31.3%) |
| Studio | $850 | $1,200 | −$350 (-29.2%) |
| 1BR | $950 | $1,400 | −$450 (-32.1%) |
| 1BR | $1,441 | $1,400 | +$41 (+2.9%) |
| 2BR | $1,750 | $1,698 | +$53 (+3.1%) |
| 2BR | $1,283 | $1,698 | −$415 (-24.4%) |
| 3BR | $1,497 | $2,300 | −$803 (-34.9%) |
| 3BR | $1,195 | $2,300 | −$1,105 (-48.0%) |
| 4BR | $1,600 | $2,548 | −$947 (-37.2%) |
| 4BR | $1,840 | $2,548 | −$707 (-27.8%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2023.