Monthly Rent Report
West Loop Rent Report — August 2023
Asking rents in ZIP 60661, Chicago, from 125 listings.
Median 1BR rent in West Loop was $2,452 in August 2023, up 2.7% (+$65) from July 2023 and down 6.6% year-over-year. The middle half of 1BR listings asked between $2,452 and $2,452. That puts West Loop $932 above the Chicago citywide 1BR median of $1,520. The month's figures are based on 125 listings across 8 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. July 2023 | Vs. August 2022 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $2,117 | +$150 (+7.6%) | +$172 (+8.8%) | $1,946 – $2,391 | 36 |
| Studio | $2,274 | +$308 (+15.6%) | +$329 (+16.9%) | $2,274 – $2,274 | 1 |
| 1BR | $2,452 | +$65 (+2.7%) | −$174 (-6.6%) | $2,452 – $2,452 | 1 |
| 1BR | $2,494 | +$107 (+4.5%) | −$133 (-5.1%) | $2,320 – $2,719 | 54 |
| 2BR | $3,733 | −$490 (-11.6%) | +$38 (+1.0%) | $3,596 – $4,424 | 22 |
| 2BR | $3,200 | −$1,023 (-24.2%) | −$495 (-13.4%) | $3,200 – $3,200 | 1 |
| 3BR | $6,611 | +$1,322 (+25.0%) | +$1,012 (+18.1%) | $5,480 – $7,031 | 9 |
| 3BR | $4,100 | −$1,189 (-22.5%) | −$1,499 (-26.8%) | $4,100 – $4,100 | 1 |
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 | $2,117 | $1,250 | +$867 (+69.3%) |
| Studio | $2,274 | $1,250 | +$1,024 (+81.9%) |
| 1BR | $2,452 | $1,520 | +$932 (+61.3%) |
| 1BR | $2,494 | $1,520 | +$974 (+64.0%) |
| 2BR | $3,733 | $1,808 | +$1,926 (+106.5%) |
| 2BR | $3,200 | $1,808 | +$1,393 (+77.0%) |
| 3BR | $6,611 | $2,395 | +$4,216 (+176.0%) |
| 3BR | $4,100 | $2,395 | +$1,705 (+71.2%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in August 2023.