Monthly Rent Report
West Loop Rent Report — May 2024
Asking rents in ZIP 60606, Chicago, from 642 listings.
Median 1BR rent in West Loop was $2,673 in May 2024, up 27.4% (+$576) from April 2024 and up 7.0% year-over-year. The middle half of 1BR listings asked between $2,362 and $2,862. That puts West Loop $1,170 above the Chicago citywide 1BR median of $1,503. The month's figures are based on 642 listings across 8 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2024 | Vs. May 2023 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $2,197 | −$8 (-0.4%) | +$39 (+1.8%) | $1,980 – $2,343 | 130 |
| Studio | $2,197 | −$8 (-0.4%) | +$39 (+1.8%) | $1,980 – $2,343 | 130 |
| 1BR | $2,673 | +$576 (+27.4%) | +$176 (+7.0%) | $2,362 – $2,862 | 248 |
| 1BR | $2,350 | +$253 (+12.1%) | −$147 (-5.9%) | $2,350 – $2,350 | 1 |
| 2BR | $3,198 | −$583 (-15.4%) | −$474 (-12.9%) | $3,198 – $3,198 | 1 |
| 2BR | $3,667 | −$115 (-3.0%) | −$5 (-0.1%) | $3,510 – $4,131 | 92 |
| 3BR | $5,097 | −$206 (-3.9%) | −$1,603 (-23.9%) | $4,997 – $5,123 | 39 |
| 3BR | $7,900 | +$2,597 (+49.0%) | +$1,200 (+17.9%) | $7,900 – $7,900 | 1 |
Median, P25, and P75 are asking rents from listings posted in May 2024. Changes compare against the nearest prior month with data.
West Loop vs. Chicago — May 2024
| Bedrooms | West Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $2,197 | $1,196 | +$1,001 (+83.7%) |
| Studio | $2,197 | $1,196 | +$1,001 (+83.7%) |
| 1BR | $2,673 | $1,503 | +$1,170 (+77.9%) |
| 1BR | $2,350 | $1,503 | +$848 (+56.4%) |
| 2BR | $3,198 | $1,825 | +$1,373 (+75.2%) |
| 2BR | $3,667 | $1,825 | +$1,842 (+100.9%) |
| 3BR | $5,097 | $2,236 | +$2,861 (+128.0%) |
| 3BR | $7,900 | $2,236 | +$5,664 (+253.3%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2024.