Monthly Rent Report
West Loop Rent Report — May 2024
Asking rents in ZIP 60607, Chicago, from 3,646 listings.
Median 1BR rent in West Loop was $2,747 in May 2024, down 4.4% (−$126) from April 2024 and down 0.7% year-over-year. The middle half of 1BR listings asked between $2,621 and $2,873. That puts West Loop $1,245 above the Chicago citywide 1BR median of $1,503. The month's figures are based on 3,646 listings across 12 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2024 | Vs. May 2023 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $1,571 | −$183 (-10.4%) | −$324 (-17.1%) | $1,571 – $1,571 | 1 |
| Studio | $2,225 | +$471 (+26.9%) | +$330 (+17.4%) | $2,075 – $2,500 | 855 |
| 1BR | $2,747 | −$126 (-4.4%) | −$18 (-0.7%) | $2,621 – $2,873 | 2 |
| 1BR | $2,831 | −$42 (-1.5%) | +$66 (+2.4%) | $2,527 – $3,090 | 1,639 |
| 2BR | $3,874 | +$74 (+1.9%) | +$342 (+9.7%) | $3,300 – $4,280 | 883 |
| 2BR | $3,650 | −$150 (-3.9%) | +$118 (+3.3%) | $3,158 – $3,650 | 5 |
| 3BR | $6,750 | +$750 (+12.5%) | +$758 (+12.6%) | $6,375 – $7,125 | 2 |
| 3BR | $4,910 | −$1,090 (-18.2%) | −$1,082 (-18.1%) | $3,790 – $6,050 | 249 |
| 4BR | $4,150 | +$155 (+3.9%) | +$450 (+12.2%) | $4,150 – $4,150 | 3 |
| 4BR | $4,150 | +$155 (+3.9%) | +$450 (+12.2%) | $4,150 – $4,150 | 2 |
Median, P25, and P75 are asking rents from listings posted in May 2024. Changes compare against the nearest prior month with data.
West Loop vs. Chicago — May 2024
| Bedrooms | West Loop Median | Chicago Citywide Median | Difference |
|---|---|---|---|
| Studio | $1,571 | $1,196 | +$375 (+31.4%) |
| Studio | $2,225 | $1,196 | +$1,029 (+86.0%) |
| 1BR | $2,747 | $1,503 | +$1,245 (+82.8%) |
| 1BR | $2,831 | $1,503 | +$1,329 (+88.4%) |
| 2BR | $3,874 | $1,825 | +$2,049 (+112.3%) |
| 2BR | $3,650 | $1,825 | +$1,825 (+100.0%) |
| 3BR | $6,750 | $2,236 | +$4,514 (+201.9%) |
| 3BR | $4,910 | $2,236 | +$2,674 (+119.6%) |
| 4BR | $4,150 | $2,725 | +$1,425 (+52.3%) |
| 4BR | $4,150 | $2,725 | +$1,425 (+52.3%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2024.