Monthly Rent Report
West Loop Rent Report — May 2023
Asking rents in ZIP 60607, Chicago, from 1,474 listings.
Median 1BR rent in West Loop was $2,548 in May 2023, up 1.1% (+$27) from April 2023 and up 10.8% year-over-year. The middle half of 1BR listings asked between $2,418 and $2,820. That puts West Loop $1,148 above the Chicago citywide 1BR median of $1,400. The month's figures are based on 1,474 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. May 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $2,220 | +$235 (+11.8%) | +$524 (+30.9%) | $1,968 – $2,394 | 231 |
| Studio | $1,895 | −$90 (-4.5%) | +$199 (+11.7%) | $1,871 – $1,966 | 6 |
| 1BR | $2,548 | +$27 (+1.1%) | +$248 (+10.8%) | $2,418 – $2,820 | 5 |
| 1BR | $2,765 | +$244 (+9.7%) | +$465 (+20.2%) | $2,438 – $3,081 | 596 |
| 2BR | $3,757 | +$97 (+2.7%) | +$982 (+35.4%) | $3,095 – $4,425 | 433 |
| 2BR | $3,532 | −$128 (-3.5%) | +$757 (+27.3%) | $3,448 – $3,637 | 3 |
| 3BR | $5,993 | +$905 (+17.8%) | +$198 (+3.4%) | $4,946 – $7,039 | 2 |
| 3BR | $5,339 | +$251 (+4.9%) | −$456 (-7.9%) | $4,134 – $6,900 | 153 |
| 4BR | $3,900 | −$100 (-2.5%) | +$903 (+30.1%) | $3,600 – $4,973 | 39 |
| 4BR | $3,700 | −$300 (-7.5%) | +$703 (+23.4%) | $3,650 – $3,750 | 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 | $2,220 | $1,200 | +$1,020 (+85.0%) |
| Studio | $1,895 | $1,200 | +$695 (+57.9%) |
| 1BR | $2,548 | $1,400 | +$1,148 (+82.0%) |
| 1BR | $2,765 | $1,400 | +$1,365 (+97.5%) |
| 2BR | $3,757 | $1,698 | +$2,060 (+121.3%) |
| 2BR | $3,532 | $1,698 | +$1,835 (+108.1%) |
| 3BR | $5,993 | $2,300 | +$3,693 (+160.5%) |
| 3BR | $5,339 | $2,300 | +$3,039 (+132.1%) |
| 4BR | $3,900 | $2,548 | +$1,353 (+53.1%) |
| 4BR | $3,700 | $2,548 | +$1,153 (+45.2%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2023.