Chicago, IL Rental Market Trends
Last updated: October 19, 2026 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Chicago is $2,531, a 3.91% increase compared to the previous year, when the average rent was $2,436.
Studio Apartments at $1,798 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 $2,464, balancing privacy and affordability.
Two-bedroom units at $3,341 offer 1,062 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,355 sq ft) for $3,726, suitable for larger households.
Average rent in Chicago, IL
Last updated: October 19, 2026
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $2,531 | 745 sq. ft. |
| Studio | $1,798 | 466 sq. ft. |
| 1 Bed | $2,464 | 708 sq. ft. |
| 2 Beds | $3,341 | 1,062 sq. ft. |
| 3 Beds | $3,726 | 1,355 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 $1,180/month
Washington Park $1,253/month
Englewood $1,270/month
All of these neighborhoods fall below the city wide average of $2,531/month.Most expensive neighborhoods in Chicago?
River North $3,419/month
Wrightwood $3,783/month
Sheffield $4,051/month
These neighborhoods typically command higher rents due to location, amenities, and demand.Average Rent in Chicago, IL By Neighborhood
| Neighborhood | Average Rent |
|---|---|
| Sheffield | $4,051 |
| Wrightwood | $3,783 |
| River North | $3,419 |
| Fulton Market | $3,369 |
| Greektown | $3,362 |
| Bucktown | $3,361 |
| Streeterville | $3,250 |
| Old Town Chicago | $3,187 |
| Downtown Chicago | $3,130 |
| Goose Island | $3,101 |
| Near East Side Chicago | $3,100 |
| Near West Side | $3,091 |
| West Town | $3,054 |
| River West | $3,044 |
| Old Town Triangle | $3,033 |
| Wicker Park | $3,009 |
| Fulton River District | $2,996 |
| Chicago Loop | $2,991 |
| Near North Side Chicago | $2,909 |
| East Village | $2,860 |
| Tri-Taylor | $2,850 |
| South Loop | $2,802 |
| Humboldt Park | $2,791 |
| Gold Coast | $2,670 |
| Cabrini - Green | $2,567 |
| West Loop | $2,472 |
| Printer's Row | $2,463 |
| Lincoln Park | $2,428 |
| Little Italy | $2,318 |
| Lakeview | $2,302 |
| Logan Square | $2,296 |
| Ravenswood | $2,135 |
| Palmer Square | $2,122 |
| East Hyde Park | $2,114 |
| Andersonville | $2,012 |
| Park West | $1,987 |
| Kenwood | $1,976 |
| Clarendon Park | $1,964 |
| Stateway Gardens | $1,948 |
| Bronzeville | $1,828 |
| Bryn Mawr Historic District | $1,782 |
| Oakland | $1,781 |
| Buena Park | $1,770 |
| Margate Park | $1,764 |
| Hyde Park | $1,714 |
| Uptown Chicago | $1,676 |
| Woodlawn | $1,631 |
| West Rogers Park | $1,616 |
| Rogers Park | $1,539 |
| North Kenwood | $1,509 |
| Edgewater Beach | $1,506 |
| East Garfield Park | $1,502 |
| Sheridan Park | $1,442 |
| South Shore | $1,381 |
| Jefferson Park | $1,345 |
| Edgewater | $1,326 |
| Douglas Park | $1,294 |
| Englewood | $1,270 |
| Washington Park | $1,253 |
| Austin | $1,180 |
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Chicago | Rent Comparison by Neighborhood
Rent in Andersonville is 70% higher than in Austin
$2,012
Andersonville rent is 21% lower than Chicago average
Average Rent
$2,012
$1,180
Austin rent is 53% lower than Chicago average
Average Rent
$1,180
How Chicago Compares to Other Cities
| City | Average Rent |
|---|---|
| Chicago | $2,531 |
| Oak Park | $2,318 |
| Evanston | $2,593 |
| Peoria | $1,186 |
| Aurora | $1,943 |
| Naperville | $2,139 |
| Skokie | $2,175 |
| Rockford | $1,276 |
| Lombard | $2,148 |
| Belleville | $1,200 |
| Waukegan | $1,428 |
| La Grange | $2,084 |
| Oak Lawn, IL | $1,173 |
| Elmhurst, IL | $2,237 |
| Worth, IL | $1,302 |
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.