Chicago market rental trends report

Chicago’s rental market has experienced a moderate increase in prices over the past 3-6 months, with studio, one-bedroom, and two-bedroom apartments seeing an average rise of 3-5%. This upward trend is driven by a combination of continued demand for urban living, limited new housing supply, and seasonal fluctuations as more renters enter the market in early spring. Additionally, inflation and rising property costs have contributed to landlords adjusting rental rates to keep pace with expenses. As of Q1 2025, the median rent in Chicago stands at approximately $2,058 for a one-bedroom apartment.

Apartment listings

Below are some recent listing examples.

Halsted Flats

• Studio/1 bath
• Sq Ft: 535
• Rent: $2,157
• Neighborhood: West Loop

Shoreham & Tides

• 1 br/1 b
• Sq Ft: 690
• Rent: $2,609
• Neighborhood: Lakeshore East

Wolf Point East

• 2 br/2 ba
• Sq Ft: 1,143
• Rent: $4,720
• Neighborhood: West Loop Gate

K2

• 3 br/2 ba
• Sq Ft: 1,515
• Rent: $5,443
• Neighborhood: Streeterville

(Data sourced from Apartments.com)