Rental Market Reports > Apartment Reports > Chicago, IL
Q1 2023 - Rental Market Report
Summary
This rental market report looks at how Chicago, IL apartment rent prices have changed in Q1 2023.
According to our data, rent prices for all three-bedroom counts in Chicago decreased year-over-year, with one-bedroom apartments decreasing the most at -9%.
Change in Year-Over-Year Average Rents: 1-3 Bedroom Apartments
Rent prices in 1-3 bedroom types in Chicago, Illinois experienced the following year-over-year rent decreases in Q1 2023:
- 1-Bedroom: -9%
- 2-Bedroom: -2%
- 3-Bedroom: -2%
Year-Over-Year Average Rents: 1-3 Bedroom Apartments
Below are the average rent prices for 1-3 bedroom apartments in Q1 2023 for Chicago, Illinois.
- 1-Bedroom: $1,392
- 2-Bedroom: $1,821
- 3-Bedroom: $2,252
Methodology
Geography: The scope of this analysis is the city of Chicago, Illinois.
Property Type: One, two, and three bedroom apartments with all bathroom counts.
Analysis: Rent data was analyzed year-over-year for each bedroom type.
Data: New rents collected at the beginning and end of each quarter reported, excluding outliers below $500 and above $10,000.
For more data, visit www.rentometer.com
Please note the research and data included in this report is aggregated from a variety of sources and many are third parties that are not affiliated with Rentometer, Inc. The information is believed to be accurate, but Rentometer, Inc. does not provide a warranty of any kind, either expressed or implied.