Last updated
Average Rent in Chicago, IL & Rent Trends
Rent prices and market trends across 2 apartment communities in Chicago, IL. Updated daily.
Market Average
$5,412/mo
Lowest Available
$2,026/mo
cheapest unit on market
Communities
2
tracked daily
Units Listed
10
available now
Price Cuts This Week in Chicago, IL
41 listed units across 2 buildings offering 4 bed units in Chicago, IL dropped their asking rent in the past 7 days, an average cut of $1,153/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 |
| 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 |
| Chicago Apartment Place, Inc. | Unit 8 | $4,495 | $2,495 | $2,000 |
| Chicago Rentals / @properties | Unit 72 | $3,700 | $2,050 | $1,650 |
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 |
Is Rent Going Up or Down in Chicago, IL?
As of August 2026, the average rent in Chicago, IL is $5,412 per month across 2 apartment communities and 10 available units.
The most affordable option is Chicago Rentals / @properties starting at $2,026/mo. By unit type, a 4-bedroom averages $5,412/mo.
Prices range from $2,026 to $15,000 per month. The most common price point is the $2,000 range, where 3 units are currently listed.
Rent Price Distribution
Rent by Bedroom Type in Chicago, IL
Rent Prices by Apartment in Chicago, IL
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| Chicago Rentals / @properties | $2,026/mo | $5,654/mo | 8 | 4.8 |
| Chicago Apartment Place, Inc. | $4,395/mo | $4,445/mo | 2 | 3.7 |
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 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
$216,000/year
Based on the 30 percent rule, using our tracked average rent of $5,412/mo.
Comfortable income
$260,000/year
Based on the 25 percent rule, leaving more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($2,026/mo), you need to earn at least $81,000/year.
Median household income in Chicago, IL is $75,134 , about 71% 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) | $5,412 |
| Utilities | $477 |
| Groceries | $563 |
| Transportation | $1,138 |
| Healthcare | $555 |
| Other goods and services | $888 |
| Estimated total | $9,033/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.
Google Search Trends for Chicago, IL Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Explore Chicago, IL Apartments
Browse all 2 communities with daily-updated pricing and availability.