Last updated
Average Rent in Chicago, IL & Rent Trends
Rent prices and market trends across 31 apartment communities in Chicago, IL. Updated daily.
Market Average
$3,481/mo
▲ +6.4% from last month
Lowest Available
$1,215/mo
cheapest unit on market
Communities
31
tracked daily
Units Listed
521
available now
Price Cuts This Week in Chicago, IL
51 listed units across 12 buildings in Chicago, IL dropped their asking rent in the past 7 days, an average cut of $279/mo. These are the largest cuts, tracked unit by unit with daily price checks.
| Apartment | Unit | Last Week | Now | Cut |
|---|---|---|---|---|
| 1133 N Dearborn - PPM Apartments | Unit 13 | $2,597 | $1,564 | $1,033 |
| 1133 N Dearborn - PPM Apartments | Unit 12 | $2,518 | $1,558 | $960 |
| 1133 N Dearborn - PPM Apartments | Unit 11 | $2,507 | $1,557 | $950 |
| 1133 N Dearborn - PPM Apartments | Unit 10 | $2,488 | $1,540 | $948 |
| 1133 N Dearborn - PPM Apartments | Unit 8 | $2,446 | $1,515 | $931 |
| 1133 N Dearborn - PPM Apartments | Unit 7 | $2,437 | $1,514 | $923 |
| 1133 N Dearborn - PPM Apartments | Unit 9 | $2,450 | $1,531 | $919 |
| 1133 N Dearborn - PPM Apartments | Unit 6 | $2,212 | $1,509 | $703 |
Rent by Neighborhood in Chicago, IL
Compare average rent across Chicago, IL neighborhoods. Click any area to see detailed trends.
| Neighborhood | Avg Rent | From | Properties | Units |
|---|---|---|---|---|
| Little Italy | $4,077 | $1,227 | 2 | 49 |
| Wrigleyville | $3,970 | $2,195 | 1 | 26 |
| Sheffield & DePaul | $3,632 | $1,215 | 13 | 209 |
| Chicago 60642 | $3,423 | $2,000 | 2 | 10 |
| Near North Side | $3,311 | $1,469 | 5 | 173 |
| West Town | $3,012 | $2,299 | 1 | 4 |
| Near West Side | $2,909 | $1,675 | 1 | 5 |
Is Rent Going Up or Down in Chicago, IL?
As of July 2026, the average rent in Chicago, IL is $3,481 per month across 31 apartment communities and 521 available units. Rents have increased $180 (6.4%) over the past month.
The most affordable option is Park View Apartments starting at $1,215/mo. By unit type, a studio averages $2,197/mo, a 1-bedroom averages $3,192/mo, a 2-bedroom averages $4,303/mo, a 3-bedroom averages $5,782/mo, a 4-bedroom averages $6,110/mo.
Prices range from $1,215 to $12,000 per month. The most common price point is the $1,800 range, where 46 units are currently listed.
Chicago, IL Rent Price History
Average Rent by Bedroom
Rent Price Distribution
Rent by Bedroom Type in Chicago, IL
Rent Prices by Apartment in Chicago, IL
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| Park View Apartments | $1,215/mo | $1,931/mo | 5 | 3.9 |
| Best Chicago Properties | $1,227/mo | $4,215/mo | 44 | 5 |
| Beachwalk Apartments | $1,337/mo | $1,852/mo | 9 | 4.3 |
| 1133 N Dearborn - PPM Apartments | $1,469/mo | $1,785/mo | 60 | 4.5 |
| The Vivian | $1,493/mo | $1,540/mo | 4 | 4.1 |
| Hotspot Apartment Rentals | $1,528/mo | $2,856/mo | 5 | 5 |
| Beal Properties | $1,650/mo | $2,692/mo | 12 | 4.4 |
Google Search Trends for Chicago, IL Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Frequently Asked Questions About Rent in Chicago, IL
What is the average rent in Chicago, IL?
Is rent going up or down in Chicago, IL?
What is the cheapest apartment in Chicago, IL?
How much is a 1-bedroom apartment in Chicago, IL?
How many apartments are available in Chicago, IL?
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
$139,000/year
Based on the 30 percent rule, using our tracked average rent of $3,481/mo.
Comfortable income
$167,000/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 55% 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) | $3,481 |
| Utilities | $477 |
| Groceries | $563 |
| Transportation | $1,138 |
| Healthcare | $555 |
| Other goods and services | $888 |
| Estimated total | $7,102/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.
Explore Chicago, IL Apartments
Browse all 31 communities with daily-updated pricing and availability.