Last updated August 24, 2026

Average Rent in Chicago, IL & Rent Trends

Rent prices and market trends across 31 apartment communities in Chicago, IL. Updated daily.

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

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

Market Average

$2,731/mo

▲ +6.9% from last month

Lowest Available

$1,215/mo

cheapest unit on market

Communities

tracked daily

Units Listed

300

available now

Price Cuts This Week in Chicago, IL

140 listed units across 18 buildings offering 1 bed units in Chicago, IL dropped their asking rent in the past 7 days, an average cut of $238/mo. These are the largest cuts, tracked unit by unit with daily price checks.

Apartment	Unit	Last Week	Now	Cut
Chicago Apartment Place, Inc.	Unit 19	$5,095	$2,595	$2,500
Beal Properties	Unit 4	$5,295	$3,295	$2,000
Chicago Apartment Place, Inc.	Unit 8	$4,495	$2,495	$2,000
Downtown Apartment Collective	Unit 4	$7,595	$5,826	$1,769
Beal Properties	Unit 6	$3,795	$2,095	$1,700
Beachwalk Apartments	Unit 12	$3,434	$1,807	$1,627
Beachwalk Apartments	Unit 15	$3,434	$1,807	$1,627
Beal Properties	Unit 2	$2,895	$1,795	$1,100

See today's prices on all 300 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
Streeterville	$4,672	▲ $1,920	$2,880	1	18
West Town	$3,889	▲ $321	$2,771	2	37
Chicago Loop	$3,599	▲ $215	$2,599	1	8
Sheffield & DePaul	$3,554	▲ $162	$1,523	15	149
River North	$3,539	▼ $1,407	$2,877	1	3
Near North Side	$3,496	▼ $91	$2,206	3	77
Near West Side	$3,490	▲ $615	$3,490	1	1
Wrigleyville	$3,439	▼ $568	$2,045	1	18
Little Italy	$3,428	▲ $212	$1,750	2	25
Logan Square	$3,167	▼ $48	$1,995	2	8
Lake View East	$2,945	▼ $4	$1,843	3	33
Armour Square	$1,661	▲ $66	$1,025	1	203
Mount Greenwood	$1,366	-	$1,060	1	7

Is Rent Going Up or Down in Chicago, IL?

As of August 2026, the average rent in Chicago, IL is $2,731 per month across 31 apartment communities and 300 available units. Rents have increased $208 (6.9%) over the past month.

The most affordable option is Lake Meadows Apartments starting at $1,215/mo. By unit type, a 1-bedroom averages $2,731/mo.

Prices range from $1,215 to $5,779 per month. The most common price point is the $1,200 range, where 51 units are currently listed.

Chicago, IL Rent Price History

Timeframe

View as table

Month	Avg Rent	Change	Properties
April 2026	$2,790	-	10
May 2026	$2,880	+$90	19
June 2026	$2,840	-$40	23
July 2026	$3,019	+$179	31
August 2026	$3,132	+$113	31

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.

Rent Price Distribution

Rent by Bedroom Type in Chicago, IL

1 Bed

$2,731

from $1,215 · 300 units

Rent Prices by Apartment in Chicago, IL

Property	Starting at	Average	Units	Rating
Lake Meadows Apartments	$1,215/mo	$1,400/mo	93	2.6
Midpointe	$1,544/mo	$1,569/mo	2	4.2
Hotspot Apartment Rentals	$1,750/mo	$1,750/mo	1	5
Beachwalk Apartments	$1,815/mo	$1,815/mo	1	4.3
1133 N Dearborn - PPM Apartments	$1,917/mo	$2,065/mo	19	4.5
Beal Properties	$1,995/mo	$2,634/mo	4	4.4
Chicago Apartment Place, Inc.	$2,045/mo	$2,362/mo	3	3.7
Reside on Barry	$2,279/mo	$2,368/mo	4	4.4
Lincoln Park Plaza	$2,400/mo	$2,400/mo	1	4.2
Reside at 2727	$2,403/mo	$2,403/mo	1	4.6
Park View Apartments	$2,500/mo	$2,500/mo	1	3.9
2555 N Clark	$2,560/mo	$2,842/mo	3	4.4
The Belmont by Reside	$2,569/mo	$2,981/mo	8	4.7
Webster House Apartments	$2,600/mo	$2,745/mo	10	4.9
Triangle Square Apartments	$2,677/mo	$2,938/mo	5	4.3
The Kent	$2,739/mo	$2,750/mo	2	3.1
The Residences at NEWCITY	$2,771/mo	$3,471/mo	10	4.4
Downtown Apartment Collective	$2,794/mo	$2,794/mo	1	5
Park Lincoln by Reside	$2,800/mo	$2,956/mo	4	4.7
Windsor North + Vine Apartments	$2,810/mo	$3,503/mo	35	4
Sentral Michigan Avenue \| Chicago Apartments	$2,858/mo	$2,977/mo	3	4.8
Park Fullerton by Reside	$2,908/mo	$3,504/mo	4	4.6
The Belden-Stratford	$2,961/mo	$4,133/mo	15	4.6
Foundry	$2,974/mo	$3,616/mo	18	4
Reside on Surf	$3,023/mo	$3,023/mo	1	4.4
The Apartments at Lincoln Common	$3,325/mo	$4,191/mo	22	4.6
Logan Apartments	$3,384/mo	$3,384/mo	1	3.9
Eugenie Terrace on the Park Apartments	$3,393/mo	$3,706/mo	5	4.1
Parq Fulton	$3,408/mo	$3,650/mo	10	4.8
465 North Park	$3,571/mo	$3,707/mo	8	4.9
Elevate Lincoln Park Apartments	$4,310/mo	$4,699/mo	5	4.7

Frequently Asked Questions About Rent in Chicago, IL

What is the average rent in Chicago, IL?

The average rent in Chicago, IL is $2,731 per month as of August 2026, based on 300 units across 31 apartment communities.

Is rent going up or down in Chicago, IL?

Rent in Chicago, IL has increased $208 (6.9%) over the past month. The current average is $2,731/mo.

What is the cheapest apartment in Chicago, IL?

The most affordable apartment in Chicago, IL is Lake Meadows Apartments with units starting at $1,215/mo.

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

A 1-bedroom apartment in Chicago, IL averages $2,731/mo, with prices starting at $1,215/mo across 300 available units.

How many apartments are available in Chicago, IL?

There are 300 units available across 31 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

$109,000/year

Based on the 30 percent rule, using our tracked average rent of $2,731/mo.

Comfortable income

$131,000/year

Based on the 25 percent rule, leaving more room for savings, transport, and groceries.

To afford the cheapest tracked apartment ($1,215/mo), you need to earn at least $49,000/year.

Median household income in Chicago, IL is $75,134 , about 43% 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)	$2,731	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	$6,352/mo	$76,229/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