Rental market snapshot for Chicago, Illinois

Chicago, Illinois Rental Property Market Overview

The average rent for an apartment in Chicago is $1,948. The cost of rent varies depending on several factors, including location, size, and quality.

The average rent has increased by 0.06% over the past year.

Chicago is a large city in the Midwest region of the United States. It is the third most populous city in the country with over 2.8 million residents. Chicago is a major cultural center with many museums, theaters, and other attractions. The city is also known for its architecture, including the iconic Willis Tower (formerly the Sears Tower) and the neo-Gothic Tribune Tower. Chicago is home to several professional sports teams, including the Chicago Cubs, Chicago White Sox, Chicago Bears, and Chicago Blackhawks.

Last Updated December 23, 2022

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Average monthly rent graph in Chicago Illinois | Cost of Living

  • The most expensive ZIP Code in Chicago is 60654 with an average price of $2,899
  • The cheapest ZIP Code in Chicago is 60636 with an average price of $815

Chicago ZIP Codes with the highest, most expensive rent

#zip codeaverage rent
160654$2,899
260611$2,865
360607$2,755
460601$2,578
560661$2,563
660610$2,495
760605$2,470
860612$2,410
960631$2,395
1060634$2,395

Live near Chicago, Illinois's Top Sights and Attractions

The Marquette Jacques is a large fountain located in the center of a busy city square. The fountain is made up of several tiers of cascading waterfalls, and is surrounded by a large plaza with benches and trees. The Marquette Jacques is a popular spot for city residents and visitors alike, and is a great place to relax and take in the sights and sounds of the city.

The Loop Riverwalk is a 1.25-mile-long (2.01 km) pedestrian and bicycle path that runs along the south bank of the Chicago River in the Loop community area of Chicago, Illinois. It is considered a part of the 606 Trail system. The path runs from Lake Shore Drive to Franklin Street and is accessible from various bridges along the way.

The Chicago Architecture Foundation River Cruise First Lady is a river cruise in Chicago, Illinois that takes visitors on a tour of the city's architecture. The cruise lasts for about an hour and a half, and visitors can learn about the city's history and architecture while enjoying the views of the skyline.

Palmer Square is a public square located in the Loop community area of Chicago, Illinois. The square is bounded by State Street, Wabash Avenue, Randolph Street, and Lake Street. It is named after Potter Palmer, one of the city's most prominent early businessmen.

Harris Ryan Memorial is a beautiful monument located in the heart of Chicago. The monument is made up of two large granite pillars that stand tall and proud. The Harris Ryan Memorial is a great place to visit if you are ever in the area.

Lincoln Abraham is a large bronze statue of the 16th president of the United States. The statue is located in Grant Park, and was sculpted by Augustus Saint-Gaudens.

The Ronan George is a beautiful fountain located in the heart of downtown Chicago. It is a popular spot for tourists and locals alike, and is a great place to take a break from exploring the city. The fountain is surrounded by a park, and is a short walk from many of the city's most popular attractions.

Levin John is a large, metal sculpture of a human head with a face that appears to be made of different pieces of metal welded together. The sculpture is located in a park in Chicago, Illinois.

Chicago, Illinois area median rent change by ZIP Code map

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How does Chicago compare to other cities in Illinois ?

citymedian price
Mchenry$1,945
Charleston$627
Richton Park$2,125
Bellwood$1,995
Glendale Heights$2,000
Glendale Heights$2,000
Bartlett$2,560
Lansing$945
Charleston$595
Dolton$925

Average household income in Chicago area graph - US Census

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The median household income in Chicago in 2021 was $62,097. This represents a 31.1% change from 2011 when the median was $47,371.

#categorypercent
0Less than $10,0008.8%
1$10,000 to $14,9994.7%
2$15,000 to $19,9994.5%
3$20,000 to $24,9994.9%
4$25,000 to $29,9994.1%
5$30,000 to $34,9994.3%
6$35,000 to $39,9993.6%
7$40,000 to $44,9993.9%
8$45,000 to $49,9993.2%
9$50,000 to $59,9996.7%
10$60,000 to $74,9998.5%
11$75,000 to $99,99911.5%
12$100,000 to $124,9998.4%
13$125,000 to $149,9995.9%
14$150,000 to $199,9997.3%
15$200,000 or more9.6%

Frequently asked questions

Our data is best categorized as "alternative data", which is a burgeoning sector. Through partnerships and direct feeds, we extract key factual elements that are publicly available within rental listings on internet listing sites and property websites. Once aggregated, we mine through the data to parse out relevant insights and calculate important metrics, benchmarks, and other KPIs. Each week, our system sifts through millions of listing observations and other pockets of market information to deliver the most comprehensive picture of rental housing available.

This is a metric that we try not to overthink. Simply, we take each unique listing observation within a geographic boundary and calculate a simple average. Of course, we're careful to filter for duplicates and other listings that aren't reflective of the market.

Yes, but please attribute us accordingly.

Yes. We can deliver bulk raw data in various formats. Please contact us to discuss - [email protected]

While some of our data is refreshed daily and other data comes in weekly, the bulk of it comes in on a biweekly basis.

Our coverage is nationwide! In our platform, we have data points for every ZIP code and neighborhood boundary in the country.

Every rental housing unit is differentiated by attributes such as its location, square footage, and amenity composition. Thanks to machine learning and natural language processing technologies we deploy, we're able to deconstruct our rental listing data points and identify key amenities for each listing. With this information, we're able to give signals around how certain amenities drive rental pricing value in certain areas.

Well, we think so! At the highest level, our process is simple. Listings data is ingested, cleaned (de-duplicated. etc.), analyzed for insights, and then presented to our users.
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