Monthly Rent Report
West Loop Rent Report — May 2023
Asking rents in ZIP 60606, Chicago, from 164 listings.
Median 1BR rent in West Loop was $2,300 in May 2023, down 5.5% (−$133) from April 2023 and down 20.6% year-over-year. The middle half of 1BR listings asked between $2,300 and $2,300. That puts West Loop $900 above the Chicago citywide 1BR median of $1,400. The month's figures are based on 164 listings across 8 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. May 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $2,013 | −$105 (-5.0%) | −$23 (-1.2%) | $1,856 – $2,178 | 50 |
| Studio | $2,158 | +$40 (+1.9%) | +$122 (+6.0%) | $2,158 – $2,158 | 1 |
| 1BR | $2,300 | −$133 (-5.5%) | −$597 (-20.6%) | $2,300 – $2,300 | 1 |
| 1BR | $2,497 | +$64 (+2.6%) | −$400 (-13.8%) | $2,228 – $2,697 | 65 |
| 2BR | $3,600 | +$112 (+3.2%) | +$638 (+21.5%) | $3,154 – $5,197 | 39 |
| 2BR | $3,672 | +$184 (+5.3%) | +$710 (+24.0%) | $3,650 – $3,687 | 5 |
| 3BR | $6,700 | +$1,982 (+42.0%) | −$443 (-6.2%) | $6,700 – $6,700 | 1 |
| 3BR | $5,027 | +$309 (+6.5%) | −$2,117 (-29.6%) | $4,974 – $5,079 | 2 |
Median, P25, and P75 are asking rents from listings posted in May 2023. Changes compare against the nearest prior month with data.
West Loop vs. Chicago — May 2023
| Bedrooms | West Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $2,013 | $1,200 | +$813 (+67.7%) |
| Studio | $2,158 | $1,200 | +$958 (+79.8%) |
| 1BR | $2,300 | $1,400 | +$900 (+64.3%) |
| 1BR | $2,497 | $1,400 | +$1,097 (+78.4%) |
| 2BR | $3,600 | $1,698 | +$1,903 (+112.1%) |
| 2BR | $3,672 | $1,698 | +$1,975 (+116.3%) |
| 3BR | $6,700 | $2,300 | +$4,400 (+191.3%) |
| 3BR | $5,027 | $2,300 | +$2,727 (+118.5%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2023.