Rental market snapshot for The Loop, Chicago
The Loop rental market summary
The rental market in The Loop, Illinois is showing signs of stability. In July of 2023, there were 1,363 new listings, indicating that the market is still active and growing. The median rent for the month of July 2023 was $2,580, a slight decrease of 1.1% from the previous month, but still an increase of .8% from the same time last year. This suggests that the rental market in The Loop is slowly but steadily increasing in value.
Overall, the rental market in The Loop appears to be healthy and growing. With a steady influx of new listings and a gradual increase in median rent, it appears that the market is in a good position for the foreseeable future. This is great news for both renters and landlords in The Loop, as it indicates that the rental market is stable and growing.
Median rent for all residential properties in The Loop
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The most expensive listings and top trending buildings in The Loop
Most Expensive Listings
| Address | Rent Price | Bed / Bath |
|---|---|---|
| 717 S Clark St | $13,000 | 4 / 4.0 |
| 60 E Randolph St | $11,850 | 4 / 3.5 |
| 717 S Clark St | $10,455 | 4 / 4.0 |
| 808 S Michigan Ave | $10,039 | 4 / 3.0 |
| 363 E Wacker Dr | $10,000 | 3 / 2.0 |
Top Trending Buildings
| building name | avg rent price |
|---|---|
| Magellan Property Management LLC | $3,053 |
| Morguard Management Company Inc. | $2,795 |
| Wood Partners | $2,792 |
| Greystar Real Estate Partners LLC | $2,740 |
| IPM | $2,698 |
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Bedroom Breakdown in The Loop
The Loop neighborhood apartments rents
The rental market for studios in The Loop, Illinois is showing a slight increase in July 2023. There are 105 new studio listings, and the median rent for studios has increased by .7% from June 2023 to July 2023, from $2,192 to $2,207. This indicates that the rental market is slowly improving, and that there is an increasing demand for studio apartments in The Loop.
The rental market for 1-bedroom apartments in The Loop, Illinois is showing signs of growth. In July 2023, there were 150 new 1-bedroom listings, which is a 3.3% increase from the median rent in June 2023. The median rent for 1-bedroom apartments in July 2023 was $2,470, which is slightly lower than the median rent in June 2023. This suggests that the rental market is becoming more competitive, with more options available for renters.
The rental market for 2-bedroom apartments in The Loop, Illinois is showing signs of stability. In July 2023, there were 65 new 2-bedroom listings, and the median rent for 2-bedroom apartments was $3,695, a 1.5% decrease from the median rent in June 2023. This suggests that the rental market is not experiencing any significant changes in pricing, and that the market is likely to remain stable in the near future.