Last updated
Average Rent in Chicago 60642 & Rent Trends
Rent prices and market trends across 2 apartment communities in Chicago 60642, Chicago, IL. Updated daily.
Market Average
$4,102/mo
▲ +21.5% from last month
Lowest Available
$3,035/mo
cheapest unit on market
Communities
2
tracked daily
Units Listed
19
available now
Chicago 60642 vs Chicago, IL Average
Chicago 60642 is more expensive the Chicago, IL average by $1,106/mo (37%). The citywide average is $2,996/mo across all neighborhoods.
Is Rent Going Up or Down in Chicago 60642?
As of May 2026, the average rent in Chicago 60642 is $4,102 per month across 2 apartment communities and 19 available units. Rents have increased $718 (21.5%) over the past month.
The most affordable option is The Residences at NEWCITY starting at $3,035/mo. By unit type, a 1-bedroom averages $3,643/mo, a 2-bedroom averages $5,096/mo.
Prices range from $3,035 to $5,893 per month. The most common price point is the $3,200 range, where 4 units are currently listed.
Chicago 60642 Rent Price History
Average Rent by Bedroom
Rent Price Distribution
Rent by Bedroom Type in Chicago 60642
Rent Prices by Apartment in Chicago 60642
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| The Residences at NEWCITY | $3,035/mo | $3,784/mo | 8 | 4.4 |
| Foundry | $3,231/mo | $4,333/mo | 11 | 4 |
Google Search Trends for Chicago 60642 Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Frequently Asked Questions About Rent in Chicago 60642
What is the average rent in Chicago 60642?
Is rent going up or down in Chicago 60642?
What is the cheapest apartment in Chicago 60642?
How much is a 1-bedroom apartment in Chicago 60642?
How many apartments are available in Chicago 60642?
What salary do I need to live comfortably in Chicago 60642?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$164,000/year
30 percent rule -- using our average rent of $4,102/mo.
Comfortable income
$197,000/year
25 percent rule -- leaves more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($3,035/mo), you need to earn at least $121,000/year.
Median household income in Chicago 60642 is $75,134 , about 62% below the comfortable-living threshold.
Cost of living in Chicago 60642
Overall prices in Chicago 60642 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 60642's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $4,102 |
| Utilities | $477 |
| Groceries | $563 |
| Transportation | $1,138 |
| Healthcare | $555 |
| Other goods and services | $888 |
| Estimated total | $7,723/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.
Explore Chicago 60642 Apartments
Browse all 2 communities with daily-updated pricing and availability.