Monthly Rent Report
West Loop Rent Report — March 2023
Asking rents in ZIP 60607, Chicago, from 1,511 listings.
Median 1BR rent in West Loop was $2,658 in March 2023, up 2.6% (+$68) from February 2023 and up 25.1% year-over-year. The middle half of 1BR listings asked between $2,375 and $3,005. That puts West Loop $1,262 above the Chicago citywide 1BR median of $1,396. The month's figures are based on 1,511 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. February 2023 | Vs. March 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $2,094 | −$36 (-1.7%) | +$506 (+31.9%) | $1,880 – $2,380 | 212 |
| Studio | $1,875 | −$255 (-12.0%) | +$287 (+18.1%) | $1,814 – $1,945 | 5 |
| 1BR | $2,658 | +$68 (+2.6%) | +$533 (+25.1%) | $2,375 – $3,005 | 549 |
| 1BR | $2,418 | −$172 (-6.6%) | +$293 (+13.8%) | $2,416 – $2,522 | 7 |
| 2BR | $3,677 | +$266 (+7.8%) | −$130 (-3.4%) | $3,122 – $4,363 | 5 |
| 2BR | $3,500 | +$89 (+2.6%) | −$307 (-8.1%) | $3,000 – $4,140 | 504 |
| 3BR | $13,173 | +$3,278 (+33.1%) | +$9,707 (+280.1%) | $11,634 – $14,711 | 2 |
| 3BR | $4,643 | −$5,252 (-53.1%) | +$1,178 (+34.0%) | $2,938 – $5,451 | 168 |
| 4BR | $4,150 | −$50 (-1.2%) | +$1,300 (+45.6%) | $3,750 – $4,845 | 45 |
| 4BR | $5,147 | +$947 (+22.5%) | +$2,297 (+80.6%) | $5,072 – $5,223 | 2 |
Median, P25, and P75 are asking rents from listings posted in March 2023. Changes compare against the nearest prior month with data.
West Loop vs. Chicago — March 2023
| Bedrooms | West Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $2,094 | $1,204 | +$890 (+74.0%) |
| Studio | $1,875 | $1,204 | +$671 (+55.8%) |
| 1BR | $2,658 | $1,396 | +$1,262 (+90.4%) |
| 1BR | $2,418 | $1,396 | +$1,022 (+73.2%) |
| 2BR | $3,677 | $1,698 | +$1,980 (+116.6%) |
| 2BR | $3,500 | $1,698 | +$1,803 (+106.2%) |
| 3BR | $13,173 | $2,200 | +$10,973 (+498.8%) |
| 3BR | $4,643 | $2,200 | +$2,443 (+111.0%) |
| 4BR | $4,150 | $2,444 | +$1,706 (+69.8%) |
| 4BR | $5,147 | $2,444 | +$2,703 (+110.6%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in March 2023.