Monthly Rent Report
West Loop Rent Report — August 2023
Asking rents in ZIP 60607, Chicago, from 336 listings.
Median 1BR rent in West Loop was $2,662 in August 2023, down 6.6% (−$188) from July 2023 and up 15.7% year-over-year. The middle half of 1BR listings asked between $2,419 and $2,887. That puts West Loop $1,142 above the Chicago citywide 1BR median of $1,520. The month's figures are based on 336 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. July 2023 | Vs. August 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $2,060 | +$115 (+5.9%) | −$75 (-3.5%) | $1,946 – $2,309 | 61 |
| Studio | $1,944 | −$1 (-0.1%) | −$191 (-9.0%) | $1,882 – $2,052 | 4 |
| 1BR | $2,662 | −$188 (-6.6%) | +$362 (+15.7%) | $2,419 – $2,887 | 150 |
| 1BR | $2,370 | −$480 (-16.9%) | +$70 (+3.0%) | $2,292 – $2,471 | 4 |
| 2BR | $3,720 | −$128 (-3.3%) | +$338 (+10.0%) | $3,148 – $4,320 | 96 |
| 2BR | $3,218 | −$630 (-16.4%) | −$164 (-4.9%) | $3,168 – $3,264 | 4 |
| 3BR | $5,750 | −$4,045 (-41.3%) | +$2,250 (+64.3%) | $4,675 – $6,173 | 3 |
| 3BR | $5,000 | −$4,795 (-49.0%) | +$1,500 (+42.9%) | $5,000 – $5,000 | 6 |
| 4BR | $2,900 | −$645 (-18.2%) | −$2,097 (-42.0%) | $2,900 – $2,900 | 1 |
| 4BR | $3,595 | +$50 (+1.4%) | −$1,402 (-28.1%) | $3,573 – $4,362 | 3 |
Median, P25, and P75 are asking rents from listings posted in August 2023. Changes compare against the nearest prior month with data.
West Loop vs. Chicago — August 2023
| Bedrooms | West Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $2,060 | $1,250 | +$810 (+64.8%) |
| Studio | $1,944 | $1,250 | +$694 (+55.5%) |
| 1BR | $2,662 | $1,520 | +$1,142 (+75.1%) |
| 1BR | $2,370 | $1,520 | +$850 (+55.9%) |
| 2BR | $3,720 | $1,808 | +$1,912 (+105.8%) |
| 2BR | $3,218 | $1,808 | +$1,410 (+78.0%) |
| 3BR | $5,750 | $2,395 | +$3,355 (+140.1%) |
| 3BR | $5,000 | $2,395 | +$2,605 (+108.8%) |
| 4BR | $2,900 | $2,692 | +$208 (+7.7%) |
| 4BR | $3,595 | $2,692 | +$903 (+33.5%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in August 2023.