Last updated August 19, 2026

Average Rent in Chicago, IL & Rent Trends

Rent prices and market trends across 24 apartment communities in Chicago, IL. Updated daily.

Area All Areas Armour Square Chicago Loop Lake View East Little Italy Logan Square Mount Greenwood Near North Side Near West Side River North Rogers Park Sheffield & DePaul Streeterville Wrigleyville

Chicago 60642

Beds All Bedrooms Studio 1 Bed 2 Bed 3 Bed 4 Bed

Market Average

$2,364/mo

▲ +8.1% from last month

Lowest Available

$1,115/mo

cheapest unit on market

Communities

tracked daily

Units Listed

available now

Price Cuts This Week in Chicago, IL

169 listed units across 17 buildings offering studio units in Chicago, IL dropped their asking rent in the past 7 days, an average cut of $439/mo. These are the largest cuts, tracked unit by unit with daily price checks.

Apartment	Unit	Last Week	Now	Cut
Chicago Rentals / @properties	Unit 82	$12,500	$6,895	$5,605
Chicago Rentals / @properties	Unit 78	$11,900	$6,999	$4,901
Downtown Apartment Collective	Unit 4	$7,595	$4,295	$3,300
Chicago Rentals / @properties	Unit 52	$6,500	$3,300	$3,200
Chicago Rentals / @properties	Unit 59	$6,995	$4,000	$2,995
Chicago Rentals / @properties	Unit 34	$5,900	$3,600	$2,300
Chicago Rentals / @properties	Unit 60	$5,900	$3,700	$2,200
Beal Properties	Unit 4	$5,295	$3,295	$2,000

See today's prices on all 88 listed units

Rent by Neighborhood in Chicago, IL

Compare average rent across Chicago, IL neighborhoods. Click any area to see detailed trends. View these neighborhoods on the rent map

Neighborhood	Avg Rent	30d Change	From	Properties	Units
Streeterville	$4,601	▲ $1,786	$2,841	1	18
Near North Side	$4,105	▼ $18	$2,026	6	193
Chicago 60642	$3,654	▲ $305	$2,771	1	9
Chicago Loop	$3,619	▲ $91	$2,616	1	8
Sheffield & DePaul	$3,571	▲ $10	$1,304	17	160
Near West Side	$3,490	▲ $490	$3,490	1	1
Little Italy	$3,471	▲ $124	$2,366	1	17
Wrigleyville	$3,439	▼ $611	$2,045	1	18
Lake View East	$3,077	▲ $26	$1,912	2	27
Logan Square	$2,787	▲ $27	$2,227	1	2
Armour Square	$1,666	▲ $58	$1,125	1	199
Mount Greenwood	$1,361	-	$1,115	1	7

Is Rent Going Up or Down in Chicago, IL?

As of August 2026, the average rent in Chicago, IL is $2,364 per month across 24 apartment communities and 88 available units. Rents have increased $248 (8.1%) over the past month.

The most affordable option is Midpointe starting at $1,115/mo. By unit type, a studio averages $2,364/mo.

Prices range from $1,115 to $4,503 per month. The most common price point is the $2,200 range, where 19 units are currently listed.

Chicago, IL Rent Price History

Timeframe

View as table

Month	Avg Rent	Change	Properties
April 2026	$2,727	-	8
May 2026	$2,686	-$41	16
June 2026	$2,660	-$26	20
July 2026	$3,028	+$368	29
August 2026	$3,104	+$76	29

The trend line and monthly averages track each building's average listed price, recorded daily with outliers trimmed. The current month is a month-to-date figure, so it can sit above or below today's live market average shown at the top of this page.

Rent Price Distribution

Rent by Bedroom Type in Chicago, IL

Studio

$2,364

from $1,115 · 88 units

Rent Prices by Apartment in Chicago, IL

Property	Starting at	Average	Units	Rating
Midpointe	$1,115/mo	$1,136/mo	4	4.2
Lake Meadows Apartments	$1,125/mo	$1,125/mo	1	2.6
Beachwalk Apartments	$1,304/mo	$1,404/mo	2	4.3
Park View Apartments	$1,695/mo	$1,785/mo	2	3.9
Reside at 2727	$1,866/mo	$1,866/mo	1	4.6
The Belmont by Reside	$1,912/mo	$1,991/mo	4	4.7
Triangle Square Apartments	$1,958/mo	$2,209/mo	11	4.3
Webster House Apartments	$1,975/mo	$2,440/mo	5	4.9
Chicago Rentals / @properties	$2,026/mo	$2,026/mo	2	4.8
Park Lincoln by Reside	$2,103/mo	$2,205/mo	8	4.7
2555 N Clark	$2,133/mo	$2,133/mo	1	4.4
AMLI 808	$2,206/mo	$2,617/mo	12	4.9
Logan Apartments	$2,227/mo	$2,227/mo	1	3.9
Reside on Surf	$2,256/mo	$2,286/mo	5	4.4
Chicago's Best Rentals - Baird & Warner	$2,325/mo	$2,902/mo	5	5
Parq Fulton	$2,366/mo	$2,547/mo	6	4.8
Eugenie Terrace on the Park Apartments	$2,446/mo	$2,634/mo	3	4.1
Windsor North + Vine Apartments	$2,541/mo	$2,638/mo	3	4
Downtown Apartment Collective	$2,550/mo	$2,663/mo	2	5
Sentral Michigan Avenue \| Chicago Apartments	$2,616/mo	$2,645/mo	2	4.8
465 North Park	$2,841/mo	$3,019/mo	4	4.9
Foundry	$2,907/mo	$2,907/mo	1	4
Elevate Lincoln Park Apartments	$3,036/mo	$3,216/mo	2	4.7
The Apartments at Lincoln Common	$3,135/mo	$3,135/mo	1	4.6

Frequently Asked Questions About Rent in Chicago, IL

What is the average rent in Chicago, IL?

The average rent in Chicago, IL is $2,364 per month as of August 2026, based on 88 units across 24 apartment communities.

Is rent going up or down in Chicago, IL?

Rent in Chicago, IL has increased $248 (8.1%) over the past month. The current average is $2,364/mo.

What is the cheapest apartment in Chicago, IL?

The most affordable apartment in Chicago, IL is Midpointe with units starting at $1,115/mo.

How many apartments are available in Chicago, IL?

There are 88 units available across 24 apartment communities 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

$95,000/year

Based on the 30 percent rule, using our tracked average rent of $2,364/mo.

Comfortable income

$113,000/year

Based on the 25 percent rule, leaving more room for savings, transport, and groceries.

To afford the cheapest tracked apartment ($1,115/mo), you need to earn at least $45,000/year.

Median household income in Chicago, IL is $75,134 , about 34% 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	Source
Rent (market average)	$2,364	daily refresh
Utilities	$477	BLS × BEA RPP
Groceries	$563	BLS × BEA RPP
Transportation	$1,138	BLS × BEA RPP
Healthcare	$555	BLS × BEA RPP
Other goods and services	$888	BLS × BEA RPP
Estimated total	$5,985/mo	$71,825/year

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.

Illinois Rent Trends

Compare rent across all Illinois cities

Chicago, IL Neighborhood Rent Map

See rent history by neighborhood on a map

Explore Chicago, IL on Map

See neighborhoods and rent data interactively

US-wide rent comparison

See how Chicago, IL rents stack up against the national median