Monthly Rent Report
West Loop Rent Report — July 2023
Asking rents in ZIP 60607, Chicago, from 462 listings.
Median 1BR rent in West Loop was $2,850 in July 2023, up 19.8% (+$471) from June 2023 and up 8.3% year-over-year. The middle half of 1BR listings asked between $2,414 and $3,089. That puts West Loop $1,400 above the Chicago citywide 1BR median of $1,450. The month's figures are based on 462 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. June 2023 | Vs. July 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $1,945 | +$37 (+1.9%) | −$348 (-15.2%) | $1,864 – $1,991 | 10 |
| Studio | $2,189 | +$281 (+14.7%) | −$104 (-4.5%) | $2,040 – $2,403 | 69 |
| 1BR | $2,850 | +$471 (+19.8%) | +$219 (+8.3%) | $2,414 – $3,089 | 189 |
| 1BR | $2,353 | −$26 (-1.1%) | −$278 (-10.6%) | $2,325 – $2,391 | 8 |
| 2BR | $3,332 | −$511 (-13.3%) | +$119 (+3.7%) | $3,206 – $3,470 | 6 |
| 2BR | $3,848 | +$5 (+0.1%) | +$635 (+19.7%) | $3,146 – $4,459 | 122 |
| 3BR | $5,394 | −$381 (-6.6%) | +$1,844 (+51.9%) | $4,832 – $5,849 | 38 |
| 3BR | $9,795 | +$4,020 (+69.6%) | +$6,245 (+175.9%) | $8,621 – $12,070 | 4 |
| 4BR | $4,689 | +$992 (+26.8%) | +$1,139 (+32.1%) | $3,721 – $6,495 | 10 |
| 4BR | $3,545 | −$152 (-4.1%) | −$5 (-0.1%) | $3,495 – $3,595 | 4 |
Median, P25, and P75 are asking rents from listings posted in July 2023. Changes compare against the nearest prior month with data.
West Loop vs. Chicago — July 2023
| Bedrooms | West Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $1,945 | $1,200 | +$745 (+62.1%) |
| Studio | $2,189 | $1,200 | +$989 (+82.4%) |
| 1BR | $2,850 | $1,450 | +$1,400 (+96.6%) |
| 1BR | $2,353 | $1,450 | +$903 (+62.3%) |
| 2BR | $3,332 | $1,795 | +$1,537 (+85.6%) |
| 2BR | $3,848 | $1,795 | +$2,053 (+114.3%) |
| 3BR | $5,394 | $2,273 | +$3,122 (+137.4%) |
| 3BR | $9,795 | $2,273 | +$7,523 (+331.0%) |
| 4BR | $4,689 | $2,709 | +$1,981 (+73.1%) |
| 4BR | $3,545 | $2,709 | +$837 (+30.9%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in July 2023.