Monthly Rent Report
West Loop Rent Report — May 2024
Asking rents in ZIP 60661, Chicago, from 1,664 listings.
Median 1BR rent in West Loop was $2,626 in May 2024, up 12.8% (+$298) from April 2024 and down 10.7% year-over-year. The middle half of 1BR listings asked between $2,408 and $2,835. That puts West Loop $1,124 above the Chicago citywide 1BR median of $1,503. The month's figures are based on 1,664 listings across 10 bedroom categories.
Median Rent by Bedroom Count
| Bedrooms | Median | Vs. April 2024 | Vs. May 2023 | P25–P75 Range | Listings |
|---|---|---|---|---|---|
| Studio | $2,200 | +$18 (+0.8%) | +$320 (+17.0%) | $1,987 – $2,284 | 325 |
| Studio | $2,200 | +$18 (+0.8%) | +$320 (+17.0%) | $1,987 – $2,284 | 325 |
| 1BR | $2,626 | +$298 (+12.8%) | −$314 (-10.7%) | $2,408 – $2,835 | 686 |
| 1BR | $2,600 | +$272 (+11.7%) | −$340 (-11.6%) | $2,600 – $2,600 | 1 |
| 2BR | $3,750 | +$250 (+7.1%) | −$114 (-3.0%) | $3,750 – $3,750 | 1 |
| 2BR | $3,900 | +$400 (+11.4%) | +$36 (+0.9%) | $3,593 – $4,035 | 261 |
| 3BR | $5,381 | −$462 (-7.9%) | −$493 (-8.4%) | $5,269 – $5,976 | 54 |
| 3BR | $5,000 | −$843 (-14.4%) | −$874 (-14.9%) | $5,000 – $5,000 | 1 |
| 4BR | $4,925 | +$30 (+0.6%) | — | $4,843 – $7,000 | 8 |
| 4BR | $7,000 | +$2,105 (+43.0%) | — | $7,000 – $7,000 | 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 | $2,200 | $1,196 | +$1,004 (+83.9%) |
| Studio | $2,200 | $1,196 | +$1,004 (+83.9%) |
| 1BR | $2,626 | $1,503 | +$1,124 (+74.8%) |
| 1BR | $2,600 | $1,503 | +$1,098 (+73.0%) |
| 2BR | $3,750 | $1,825 | +$1,925 (+105.5%) |
| 2BR | $3,900 | $1,825 | +$2,075 (+113.7%) |
| 3BR | $5,381 | $2,236 | +$3,145 (+140.7%) |
| 3BR | $5,000 | $2,236 | +$2,764 (+123.6%) |
| 4BR | $4,925 | $2,725 | +$2,200 (+80.7%) |
| 4BR | $7,000 | $2,725 | +$4,275 (+156.9%) |
Citywide figure is the median of zip-level medians across 55 Chicago zip codes with listings in May 2024.