Last updated
Average Rent in Chicago, IL & Rent Trends
Rent prices and market trends across 36 apartment communities in Chicago, IL. Updated daily.
Market Average
$2,841/mo
▲ +9.7% from last month
Lowest Available
$955/mo
cheapest unit on market
Communities
36
tracked daily
Units Listed
611
available now
Price Cuts This Week in Chicago, IL
36 listed units across 3 buildings in Chicago, IL dropped their asking rent in the past 7 days, an average cut of $44/mo. These are the largest cuts, tracked unit by unit with daily price checks.
| Apartment | Unit | Last Week | Now | Cut |
|---|---|---|---|---|
| Parq Fulton | Unit 401, B2 | $4,665 | $4,556 | $109 |
| Parq Fulton | Unit 1516, B4 | $4,836 | $4,736 | $100 |
| Sentral Michigan Avenue | Chicago Apartments | Unit A1, A1 | $2,940 | $2,850 | $90 |
| Eugenie Terrace on the Park Apartments | Unit 3910, A | $3,475 | $3,393 | $82 |
| Sentral Michigan Avenue | Chicago Apartments | Unit A2, A2 | $2,850 | $2,779 | $71 |
| Parq Fulton | Unit 1608, A10 | $3,937 | $3,868 | $69 |
| Eugenie Terrace on the Park Apartments | Unit 1312, S2 | $2,451 | $2,386 | $65 |
| Eugenie Terrace on the Park Apartments | Unit 1810, S1 | $2,381 | $2,320 | $61 |
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 |
|---|---|---|---|---|---|
| River North | $4,761 | - | $2,650 | 1 | 4 |
| Chicago 60642 | $4,276 | ▲ $175 | $2,026 | 3 | 77 |
| Little Italy | $4,013 | ▲ $333 | $1,227 | 3 | 59 |
| Wrigleyville | $4,004 | - | $2,195 | 1 | 22 |
| Chicago Loop | $3,385 | - | $2,552 | 1 | 8 |
| Sheffield & DePaul | $3,299 | ▲ $201 | $1,215 | 14 | 144 |
| Logan Square | $3,254 | ▲ $626 | $2,050 | 2 | 9 |
Is Rent Going Up or Down in Chicago, IL?
As of July 2026, the average rent in Chicago, IL is $2,841 per month across 36 apartment communities and 611 available units. Rents have increased $272 (9.7%) over the past month.
The most affordable option is Lake Meadows Apartments starting at $955/mo. By unit type, a studio averages $2,392/mo, a 1-bedroom averages $2,443/mo, a 2-bedroom averages $2,953/mo, a 3-bedroom averages $4,364/mo, a 4-bedroom averages $6,035/mo.
Prices range from $955 to $11,757 per month. The most common price point is the $1,200 range, where 74 units are currently listed.
Chicago, IL Rent Price History
View as table
| Month | Avg Rent | Change | Properties |
|---|---|---|---|
| April 2026 | $2,779 | - | 11 |
| May 2026 | $2,822 | +$43 | 22 |
| June 2026 | $2,831 | +$9 | 26 |
| July 2026 | $3,038 | +$207 | 36 |
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 |
|---|---|---|---|---|
| Lake Meadows Apartments | $955/mo | $1,596/mo | 222 | 2.6 |
| Park View Apartments | $1,215/mo | $1,864/mo | 7 | 3.9 |
| Best Chicago Properties | $1,227/mo | $4,252/mo | 41 | 5 |
| Mainstreet Chicago | $1,290/mo | $2,790/mo | 3 | 4.7 |
| Beachwalk Apartments | $1,338/mo | $1,884/mo | 5 | 4.3 |
| The Vivian | $1,409/mo | $1,520/mo | 10 | 4.1 |
| The Belmont by Reside | $1,582/mo | $3,127/mo | 14 | 4.7 |
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 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
$114,000/year
Based on the 30 percent rule, using our tracked average rent of $2,841/mo.
Comfortable income
$136,000/year
Based on the 25 percent rule, leaving more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($955/mo), you need to earn at least $38,000/year.
Median household income in Chicago, IL is $75,134 , about 45% 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) | $2,841 |
| Utilities | $477 |
| Groceries | $563 |
| Transportation | $1,138 |
| Healthcare | $555 |
| Other goods and services | $888 |
| Estimated total | $6,462/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 36 communities with daily-updated pricing and availability.