Last updated August 1, 2026

Average Rent in Chicago, IL & Rent Trends

Rent prices and market trends across 36 apartment communities in Chicago, IL. Updated daily.

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

Chicago 60642

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

Market Average

$2,966/mo

▼ 3.1% from last month

Lowest Available

$955/mo

cheapest unit on market

Communities

tracked daily

Units Listed

695

available now

Price Cuts This Week in Chicago, IL

152 listed units across 16 buildings in Chicago, IL dropped their asking rent in the past 7 days, an average cut of $601/mo. These are the largest cuts, tracked unit by unit with daily price checks.

Apartment	Unit	Last Week	Now	Cut
Chicago Rentals / @properties	Unit 59	$9,997	$5,500	$4,497
Chicago Rentals / @properties	Unit 48	$8,400	$4,500	$3,900
Chicago Rentals / @properties	Unit 57	$9,000	$5,400	$3,600
Chicago Rentals / @properties	Unit 55	$6,347	$3,400	$2,947
Chicago Rentals / @properties	Unit 9	$7,500	$4,595	$2,905
Chicago's Best Rentals - Baird & Warner	Unit 3	$5,858	$3,473	$2,385
Chicago Rentals / @properties	Unit 31	$5,900	$3,550	$2,350
Chicago Rentals / @properties	Unit 78	$11,800	$9,500	$2,300

See today's prices on all 695 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
River North	$4,711	▲ $901	$2,450	1	4
Chicago 60642	$4,426	▲ $129	$2,026	3	102
Little Italy	$4,098	▲ $756	$1,227	3	58
Wrigleyville	$3,800	▼ $67	$2,495	1	21
Chicago Loop	$3,349	-	$2,597	1	8
Sheffield & DePaul	$3,339	▲ $140	$1,361	14	142
Logan Square	$3,320	▲ $819	$2,095	2	9
Near North Side	$3,183	▲ $169	$1,892	3	85
Lake View East	$3,096	▲ $209	$1,895	3	25
Streeterville	$2,845	▼ $108	$2,729	1	2
West Town	$2,799	▼ $5	$2,299	1	3
Near West Side	$2,776	▼ $173	$1,775	1	4
Armour Square	$1,596	-	$955	1	222
Rogers Park	$1,520	▼ $5	$1,409	1	10

Is Rent Going Up or Down in Chicago, IL?

As of August 2026, the average rent in Chicago, IL is $2,966 per month across 36 apartment communities and 695 available units. Rents have decreased $93 (3.1%) over the past month.

The most affordable option is Lake Meadows Apartments starting at $955/mo. By unit type, a studio averages $2,223/mo, a 1-bedroom averages $2,560/mo, a 2-bedroom averages $3,288/mo, a 3-bedroom averages $4,632/mo, a 4-bedroom averages $5,782/mo.

Prices range from $955 to $14,000 per month. The most common price point is the $1,200 range, where 72 units are currently listed.

Chicago, IL Rent Price History

Timeframe

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	$3,066	+$235	36
August 2026	$2,914	-$152	5

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.

Average Rent by Bedroom

Rent Price Distribution

Rent by Bedroom Type in Chicago, IL

Studio

$2,223

from $955 · 125 units

1 Bed

$2,560

from $1,160 · 293 units

2 Bed

$3,288

from $1,550 · 198 units

3 Bed

$4,632

from $2,026 · 65 units

4 Bed

$5,782

from $2,026 · 14 units

Rent Prices by Apartment in Chicago, IL

Property	Starting at	Average	Units	Rating
Lake Meadows Apartments	$955/mo	$1,596/mo	222	2.6
Best Chicago Properties	$1,227/mo	$4,252/mo	41	5
Beachwalk Apartments	$1,361/mo	$2,222/mo	6	4.3
The Vivian	$1,409/mo	$1,520/mo	10	4.1
Park View Apartments	$1,595/mo	$1,904/mo	4	3.9
Reside at 2727	$1,718/mo	$1,809/mo	3	4.6
Hotspot Apartment Rentals	$1,750/mo	$3,188/mo	4	5
Mainstreet Chicago	$1,775/mo	$2,776/mo	4	4.7
1133 N Dearborn - PPM Apartments	$1,892/mo	$2,018/mo	14	4.5
Reside on Surf	$1,895/mo	$2,169/mo	5	4.4
The Belmont by Reside	$1,972/mo	$3,365/mo	12	4.7
Webster House Apartments	$1,975/mo	$3,012/mo	23	4.9
2555 N Clark	$2,023/mo	$3,085/mo	4	4.4
Chicago Rentals / @properties	$2,026/mo	$4,570/mo	89	4.8
Triangle Square Apartments	$2,069/mo	$2,732/mo	17	4.3
Beal Properties	$2,095/mo	$3,354/mo	6	4.4
Windsor North + Vine Apartments	$2,154/mo	$3,594/mo	57	4
Logan Apartments	$2,191/mo	$3,250/mo	3	3.9
Eugenie Terrace on the Park Apartments	$2,196/mo	$2,961/mo	23	4.1
AMLI 808	$2,206/mo	$2,674/mo	14	4.9
Park Lincoln by Reside	$2,270/mo	$2,492/mo	9	4.7
Honore Properties	$2,299/mo	$2,799/mo	3	4.5
Lincoln Park Plaza	$2,400/mo	$2,400/mo	1	4.2
Reside on Barry	$2,403/mo	$3,273/mo	8	4.4
Downtown Apartment Collective	$2,450/mo	$4,711/mo	4	5
Chicago's Best Rentals - Baird & Warner	$2,455/mo	$3,337/mo	6	5
Chicago Apartment Place, Inc.	$2,495/mo	$3,800/mo	21	3.7
Park Fullerton by Reside	$2,511/mo	$3,048/mo	3	4.6
Sentral Michigan Avenue \| Chicago Apartments	$2,597/mo	$3,349/mo	8	4.8
The Kent	$2,670/mo	$2,670/mo	1	3.1
The Residences at NEWCITY	$2,671/mo	$3,520/mo	8	4.4
465 North Park	$2,729/mo	$2,845/mo	2	4.9
Parq Fulton	$2,782/mo	$3,893/mo	13	4.8
The Apartments at Lincoln Common	$2,994/mo	$4,316/mo	22	4.6
Foundry	$3,137/mo	$3,325/mo	5	4
The Belden-Stratford	$3,395/mo	$4,999/mo	20	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 $2,966 per month as of August 2026, based on 695 units across 36 apartment communities.

Is rent going up or down in Chicago, IL?

Rent in Chicago, IL has decreased $93 (3.1%) over the past month. The current average is $2,966/mo.

What is the cheapest apartment in Chicago, IL?

The most affordable apartment in Chicago, IL is Lake Meadows Apartments with units starting at $955/mo.

How much is a 1-bedroom apartment in Chicago, IL?

A 1-bedroom apartment in Chicago, IL averages $2,560/mo, with prices starting at $1,160/mo across 293 available units.

How many apartments are available in Chicago, IL?

There are 695 units available across 36 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

$119,000/year

Based on the 30 percent rule, using our tracked average rent of $2,966/mo.

Comfortable income

$142,000/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 47% 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)	$2,966	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	$6,587/mo	$79,049/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