Monthly Rent Report
West Loop Rent Report — January 2023
Asking rents in ZIP 60607, Chicago, from 1,497 listings.
Median 1BR rent in West Loop was $2,521 in January 2023, up 4.8% (+$116) from December 2022 and up 5.0% year-over-year. The middle half of 1BR listings asked between $2,294 and $2,826. That puts West Loop $1,171 above the Chicago citywide 1BR median of $1,350. The month's figures are based on 1,497 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. December 2022 | Vs. January 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $2,082 | +$314 (+17.8%) | −$68 (-3.2%) | $1,853 – $2,330 | 221 |
| Studio | $1,883 | +$115 (+6.5%) | −$267 (-12.4%) | $1,788 – $1,958 | 7 |
| 1BR | $2,521 | +$116 (+4.8%) | +$121 (+5.0%) | $2,294 – $2,826 | 621 |
| 1BR | $2,575 | +$170 (+7.0%) | +$175 (+7.3%) | $2,426 – $2,756 | 4 |
| 2BR | $3,333 | +$138 (+4.3%) | −$567 (-14.5%) | $2,992 – $3,852 | 466 |
| 2BR | $3,208 | +$13 (+0.4%) | −$692 (-17.7%) | $3,124 – $3,700 | 5 |
| 3BR | $3,387 | −$2,635 (-43.8%) | +$1,201 (+54.9%) | $3,346 – $4,100 | 5 |
| 3BR | $4,500 | −$1,522 (-25.3%) | +$2,314 (+105.9%) | $3,395 – $5,451 | 129 |
| 4BR | $4,195 | −$1,300 (-23.7%) | +$995 (+31.1%) | $3,400 – $4,845 | 25 |
| 4BR | $3,000 | −$2,495 (-45.4%) | −$200 (-6.3%) | $2,400 – $4,171 | 10 |
Median, P25, and P75 are asking rents from listings posted in January 2023. Changes compare against the nearest prior month with data.
West Loop vs. Chicago — January 2023
| Bedrooms | West Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $2,082 | $1,061 | +$1,021 (+96.2%) |
| Studio | $1,883 | $1,061 | +$822 (+77.4%) |
| 1BR | $2,521 | $1,350 | +$1,171 (+86.7%) |
| 1BR | $2,575 | $1,350 | +$1,225 (+90.7%) |
| 2BR | $3,333 | $1,698 | +$1,636 (+96.3%) |
| 2BR | $3,208 | $1,698 | +$1,511 (+89.0%) |
| 3BR | $3,387 | $2,123 | +$1,265 (+59.6%) |
| 3BR | $4,500 | $2,123 | +$2,378 (+112.0%) |
| 4BR | $4,195 | $2,417 | +$1,779 (+73.6%) |
| 4BR | $3,000 | $2,417 | +$584 (+24.1%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in January 2023.