Monthly Rent Report
West Loop Rent Report — May 2023
Asking rents in ZIP 60661, Chicago, from 473 listings.
Median 1BR rent in West Loop was $2,940 in May 2023, up 11.4% (+$300) from April 2023 and up 5.5% year-over-year. The middle half of 1BR listings asked between $2,873 and $3,004. That puts West Loop $1,540 above the Chicago citywide 1BR median of $1,400. The month's figures are based on 473 listings across 8 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2023 | Vs. May 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $1,880 | −$288 (-13.3%) | −$172 (-8.4%) | $1,880 – $1,880 | 1 |
| Studio | $2,260 | +$92 (+4.2%) | +$208 (+10.1%) | $2,003 – $2,444 | 102 |
| 1BR | $2,940 | +$300 (+11.4%) | +$152 (+5.5%) | $2,873 – $3,004 | 6 |
| 1BR | $2,761 | +$121 (+4.6%) | −$27 (-1.0%) | $2,500 – $3,008 | 207 |
| 2BR | $4,033 | +$266 (+7.1%) | −$243 (-5.7%) | $3,941 – $4,126 | 2 |
| 2BR | $3,864 | +$97 (+2.6%) | −$412 (-9.6%) | $3,500 – $4,242 | 128 |
| 3BR | $5,875 | +$111 (+1.9%) | −$2,125 (-26.6%) | $5,096 – $6,363 | 26 |
| 3BR | $6,995 | +$1,231 (+21.4%) | −$1,005 (-12.6%) | $6,995 – $6,995 | 1 |
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 | $1,880 | $1,200 | +$680 (+56.7%) |
| Studio | $2,260 | $1,200 | +$1,060 (+88.3%) |
| 1BR | $2,940 | $1,400 | +$1,540 (+110.0%) |
| 1BR | $2,761 | $1,400 | +$1,361 (+97.2%) |
| 2BR | $4,033 | $1,698 | +$2,336 (+137.6%) |
| 2BR | $3,864 | $1,698 | +$2,167 (+127.6%) |
| 3BR | $5,875 | $2,300 | +$3,575 (+155.4%) |
| 3BR | $6,995 | $2,300 | +$4,695 (+204.1%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2023.