Chicago, IL Rental Market Trends
Last updated: July 26, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Chicago is $2,525, a 3.73% increase compared to the previous year, when the average rent was $2,434.
Studio Apartments at $1,788 offer the most budget-friendly option with 466 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 708 square feet for $2,458, balancing privacy and affordability.
Two-bedroom units at $3,311 offer 1,058 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,352 sq ft) for $3,764, suitable for larger households.
Average rent in Chicago, IL
Last updated: July 26, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $2,525 | 746 sq. ft. |
| Studio | $1,788 | 466 sq. ft. |
| 1 Bed | $2,458 | 708 sq. ft. |
| 2 Beds | $3,311 | 1,058 sq. ft. |
| 3 Beds | $3,764 | 1,352 sq. ft. |
Chicago, IL rent trends
What's the typical rent budget in Chicago, IL?
The largest share of rentals in Chicago, IL (26%) fall between $3,000- per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Chicago, IL?
626,193 or 54% of the households in Chicago, IL are renter-occupied while 534,012 or 46% are owner-occupied.
Most affordable neighborhoods in Chicago?
Austin $1,148/month
Englewood $1,229/month
Washington Park $1,237/month
All of these neighborhoods fall below the city wide average of $2,525/month.Most expensive neighborhoods in Chicago?
River North $3,478/month
Wrightwood $3,855/month
Sheffield $4,070/month
These neighborhoods typically command higher rents due to location, amenities, and demand.Average Rent in Chicago, IL By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Sheffield | $4,070 |
| Wrightwood | $3,855 |
| River North | $3,478 |
| Greektown | $3,429 |
| Bucktown | $3,402 |
| Fulton Market | $3,387 |
| Streeterville | $3,294 |
| Old Town Chicago | $3,230 |
| Near East Side Chicago | $3,168 |
| Downtown Chicago | $3,167 |
| West Town | $3,163 |
| Goose Island | $3,108 |
| Near West Side | $3,096 |
| Old Town Triangle | $3,080 |
| Fulton River District | $3,062 |
| Near North Side Chicago | $3,047 |
| Chicago Loop | $3,009 |
| River West | $3,003 |
| Wicker Park | $2,983 |
| East Village | $2,826 |
| Humboldt Park | $2,791 |
| South Loop | $2,786 |
| Tri-Taylor | $2,772 |
| Gold Coast | $2,691 |
| Lincoln Park | $2,566 |
| Cabrini - Green | $2,536 |
| Printer's Row | $2,511 |
| West Loop | $2,383 |
| Lakeview | $2,283 |
| Little Italy | $2,275 |
| Logan Square | $2,260 |
| East Hyde Park | $2,081 |
| Ravenswood | $2,075 |
| Palmer Square | $2,016 |
| Kenwood | $1,994 |
| Park West | $1,988 |
| Andersonville | $1,947 |
| Clarendon Park | $1,873 |
| Stateway Gardens | $1,824 |
| Hyde Park | $1,772 |
| Oakland | $1,766 |
| Bryn Mawr Historic District | $1,760 |
| Buena Park | $1,741 |
| Margate Park | $1,709 |
| Bronzeville | $1,676 |
| Uptown Chicago | $1,602 |
| Woodlawn | $1,569 |
| Rogers Park | $1,498 |
| North Kenwood | $1,479 |
| West Rogers Park | $1,464 |
| Budlong Woods | $1,453 |
| East Garfield Park | $1,453 |
| Edgewater Beach | $1,450 |
| Sheridan Park | $1,354 |
| South Shore | $1,346 |
| Jefferson Park | $1,345 |
| Edgewater | $1,326 |
| Douglas Park | $1,302 |
| Washington Park | $1,237 |
| Englewood | $1,229 |
| Austin | $1,148 |
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Chicago | Rent Comparison by Neighborhood
Rent in Andersonville is 70% higher than in Austin
$1,947
Andersonville rent is 23% lower than Chicago average
Average Rent
$1,947
$1,148
Austin rent is 55% lower than Chicago average
Average Rent
$1,148
How Chicago Compares to Other Cities
| City | Average Rent |
|---|---|
| Chicago | $2,525 |
| Oak Park | $2,256 |
| Evanston | $2,591 |
| Rockford | $1,267 |
| Peoria | $1,175 |
| Aurora | $1,893 |
| Skokie | $2,145 |
| Naperville | $2,097 |
| Lombard | $2,114 |
| Champaign | $1,765 |
| Belleville | $1,189 |
| La Grange, IL | $2,088 |
| Oak Lawn, IL | $1,173 |
| Elmhurst, IL | $2,175 |
| Worth, IL | $1,302 |
| Alsip, IL | $1,457 |
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Chicago apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.