Average Rent in Chicago, IL
31 apartment buildings, 448 units. Real asking prices, refreshed daily.
Avg Rent
$3,743/mo
market average
Cheapest
$1,215/mo
Park View Apartments
Properties
31
tracked daily
Units
448
available now
Chicago, IL Resident Access
City Club members share insider gate codes, parking links, and amenity tips.
Analysis
Rent Price Breakdown
Compare pricing across all 31 properties in Chicago, IL.
Average Rent by Property
Starting Price vs Average
Rent by Bedroom Count
Price per Square Foot
Chicago, IL Rent Prices
All 31 properties ranked by lowest available rent.
Park View Apartments
1936 N Clark St, Chicago, IL 60614, USA
Best Chicago Properties
847 W Monroe St, Chicago, IL 60607, USA
Beachwalk Apartments
420 W Fullerton Pkwy, Chicago, IL 60614, USA
The Vivian
6807 N Sheridan Rd, Chicago, IL 60626, USA
Mainstreet Chicago
2348 W Grand Ave #1, Chicago, IL 60612, USA
Hotspot Apartment Rentals
1016 W Jackson Blvd, Chicago, IL 60607, USA
The Belmont by Reside
3170 N Sheridan Rd, Chicago, IL 60657, USA
| # | Property | From | Avg | $/sqft | Rating | Units |
|---|---|---|---|---|---|---|
| 1 | Park View Apartments 1936 N Clark St, Chicago, IL 60614, USA | $1,215 | $1,931 | $4.16 | 3.9 (48) | 5 |
| 2 | Best Chicago Properties 847 W Monroe St, Chicago, IL 60607, USA | $1,227 | $4,196 | $3.37 | 5 (68) | 43 |
| 3 | Beachwalk Apartments 420 W Fullerton Pkwy, Chicago, IL 60614, USA | $1,337 | $2,221 | $5.72 | 4.3 (112) | 5 |
| 4 | The Vivian 6807 N Sheridan Rd, Chicago, IL 60626, USA | $1,493 | $1,526 | $3.36 | 4.1 (155) | 3 |
| 5 | Mainstreet Chicago 2348 W Grand Ave #1, Chicago, IL 60612, USA | $1,675 | $2,909 | $2.56 | 4.7 (7) | 5 |
| 6 | Hotspot Apartment Rentals 1016 W Jackson Blvd, Chicago, IL 60607, USA | $1,750 | $3,188 | -- | 5 (3672) | 4 |
| 7 | The Belmont by Reside 3170 N Sheridan Rd, Chicago, IL 60657, USA | $1,807 | $3,058 | $3.79 | 4.7 (100) | 14 |
Explore Each Property
Park View Apartments
3.9 (48)1936 N Clark St, Chicago, IL 60614, USA
Best Chicago Properties
5 (68)847 W Monroe St, Chicago, IL 60607, USA
Beachwalk Apartments
4.3 (112)420 W Fullerton Pkwy, Chicago, IL 60614, USA
The Vivian
4.1 (155)6807 N Sheridan Rd, Chicago, IL 60626, USA
Mainstreet Chicago
4.7 (7)2348 W Grand Ave #1, Chicago, IL 60612, USA
Hotspot Apartment Rentals
5 (3672)1016 W Jackson Blvd, Chicago, IL 60607, USA
Chicago, IL Average Rent Prices 2026
The average rent in Chicago, IL is $3,743 per month, based on 448 units across 31 apartment communities. Prices range from $1,215 at Park View Apartments to $3,354 at The Apartments at Lincoln Common.
Average Rent by Bedroom Type
| Type | Avg Rent | Starting From | Units |
|---|---|---|---|
| Studio | $2,426/mo | $1,215/mo | 107 |
| 1 Bed | $3,224/mo | $1,750/mo | 159 |
| 2 Bed | $4,359/mo | $2,000/mo | 104 |
| 3 Bed | $5,738/mo | $2,026/mo | 58 |
| 4 Bed | $5,939/mo | $2,026/mo | 20 |
Every price is a real asking rent, updated that morning. Request a neighborhood we don't cover and we add it within 24 hours.
Building Economics
How much do Chicago, IL apartments earn?
The 22 buildings we can estimate generate about $20M in rental revenue per month ($235M a year). Estimated from each building's unit-level listing and leasing activity.
| Building | Est. Monthly Revenue | Est. Occupancy | Units |
|---|---|---|---|
| 1.The Apartments at Lincoln Common | $2.9M/mo | 96% | 588 |
| 2.The Belmont by Reside | $2.5M/mo | 99% | 1000 |
| 3.Reside on Barry | $1.9M/mo | 99% | 630 |
| 4.The Belden-Stratford | $1.9M/mo | 96% | 354 |
| 5.Eugenie Terrace on the Park Apartments | $1.9M/mo | 96% | 575 |
Research estimates from listing activity, not operator financials. Click any building for the full revenue breakdown and methodology.
Market Context
Who rents in Chicago, IL, and what they pay
Tracked one-bedroom rent in Chicago, IL averages $3,224/mo, with two-bedroom units averaging $4,359/mo. At the local median household income of $75,134, that works out to 60% of gross income, a severely rent-burdened market by HUD standards.
The U.S. Census Bureau's American Community Survey 2023 release pegged median gross rent in Chicago, IL at $1,380/mo. The current tracked market average runs 171% higher than that benchmark, reflecting both two to three years of rent growth and the fact that the Census figure covers all renter-occupied housing in Chicago, IL while the tracked market average covers units currently listed in larger apartment communities.
Who employs renters in Chicago
Demand in the Chicago rental market is shaped by the metro's largest private and public employers. The following organizations anchor local hiring and influence what renters can pay:
- United Airlines
- Boeing
- Walgreens Boots Alliance
- McDonald's
- JPMorgan Chase
- Allstate
- Abbott Laboratories
- Exelon
Mean one-way commute in Chicago, IL is 34 minutes, per the Census ACS, useful context when weighing which properties sit inside reasonable reach of these employers.
What salary do I need to live comfortably in Chicago, IL?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$150,000/year
Based on the 30 percent rule, using our tracked average rent of $3,743/mo.
Comfortable income
$180,000/year
Based on the 25 percent rule, leaving more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($1,215/mo), you need to earn at least $49,000/year.
Median household income in Chicago, IL is $75,134 , about 58% below the comfortable-living threshold.
Cost of living in Chicago, IL
Overall prices in Chicago, IL runs above the national average by about 2% (BEA Regional Price Parity index 102.5, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Chicago, IL's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $3,743 |
| Utilities | $477 |
| Groceries | $563 |
| Transportation | $1,138 |
| Healthcare | $555 |
| Other goods and services | $888 |
| Estimated total | $7,364/mo |
Population
2,707,648
Median household income
$75,134
Census median rent
$1,380/mo
Rent as % of income
29.0%
Median age
35.7
Mean commute
34 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Compare
Nearby cities in Illinois
How Chicago, IL rent compares to other markets in the state.
| City | Avg Rent | vs Chicago, IL | Properties |
|---|---|---|---|
| Aurora, IL | $2,174 | -42% | 13 |
| Schaumburg, IL | $2,166 | -42% | 12 |
| Peoria, IL | $1,325 | -65% | 11 |
| Springfield, IL | $1,264 | -66% | 10 |
| Rockford, IL | $1,344 | -64% | 10 |
| Evanston, IL | $2,795 | -25% | 9 |
Frequently asked questions
What is the average rent in Chicago, IL?
The average rent in Chicago, IL is $3,743 per month, based on 448 units across 31 apartment buildings tracked by Average Rent. Prices are refreshed daily.
What is the cheapest apartment rent in Chicago, IL?
The lowest available rent in Chicago, IL starts at $1,215 per month. Availability changes daily and prices are refreshed each morning.
How much is a 1-bedroom apartment in Chicago, IL?
1-bedroom apartments in Chicago, IL average $3,224/mo. The lowest listed 1-bedroom starts at $1,750/mo across 159 units tracked.
How much is a 2-bedroom apartment in Chicago, IL?
2-bedroom apartments in Chicago, IL average $4,359/mo. Units start from $2,000/mo across 104 units currently listed.
Rent Trends in Chicago, IL
Track how apartment prices are changing over time.
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