TL;DR: As of early 2026, the average rent in Chicago is about $2,450 per month, with studios around $1,700, one-bedroom apartments near $2,300, and larger units starting above $3,000 in popular areas.
Average Rent Prices in Chicago Today
Recent data from RentCafe puts Chicago’s average rent at roughly $2,454 per month for all rentals, with an average apartment size of about 748 square feet.
Here is how that breaks down by unit type:
| Apartment size | Average rent | Average space |
| Studio apartments | $1,744 / month | 469 sq. ft. |
| One-bedroom apartment | $2,380 / month | 708 sq. ft. |
| Two-bedroom apartment | $3,221 / month | 1,061 sq. ft. |
| Three-bedroom | $3,693 / month | 1,362 sq. ft. |
Those numbers are citywide averages. Individual listings will come in higher or lower based on neighborhood, building age, and what utilities are included.
How Chicago Compares to the National Average
So how do these rental prices stack up against other cities?
National reports from Realtor.com and Apartment List show median asking rents between about $1,350 and $1,700 per month across major U.S. metros.
That means Chicago’s average rent is several hundred dollars higher than the national average, especially for centrally located apartments, even though it is still cheaper than some coastal giants like New York.
What Do One-Bedroom Apartments Cost in Different Neighborhoods?
For many renters, one-bedroom apartments are the sweet spot between privacy and price. Citywide, a typical one-bedroom apartment in Chicago averages about $2,380 per month.
In high-demand downtown Chicago neighborhoods such as River North, Streeterville, and the Chicago Loop, one-bedroom rents often push past $2,700 and can exceed $3,000 in newer luxury buildings. By contrast, neighborhoods a bit farther from the core, like Logan Square or parts of Lakeview, tend to land closer to the citywide average, while suburbs such as West Chicago show noticeably lower prices.
How Apartment Sizes and Amenities Affect Rent in Chicago
Apartment sizes have a clear impact on what you pay each month. Studios and compact one-bedroom units represent the lower end of Chicago’s average rent, especially in buildings without high-end finishes. Two and three-bedroom units come with a higher monthly cost but can be more affordable per person for roommates or small families.
Amenities and utilities also matter. Buildings that include unit laundry, on-site gyms, package rooms, parking, or doorman service usually command higher rent prices, while older walk-up buildings often offer lower prices. Always check which utilities are included in the rent, especially heat and water, because winter in Chicago can make separate utility bills add up quickly.
Recent trends: Has rent gone up since last year?
Market trends show that average rental rates have increased slightly from the same period as the prior year in many areas of central neighborhoods, some at a mid single-digit increase year to date. The overall average rents for downtown Chicago and Streeterville each rose by about 5-7% compared to last year.
On the national level, this is not the case. According to Realtor.com, among the top 50 metropolitan areas, the median monthly asking rental rate in January 2026 was approximately $1,672, or about 5% lower than its peak in 2022, as it had been gradually declining annually for more than two years. Some areas nationally, however, are providing renters with more rental price relief than we currently see in Chicago’s core.
Timing Your Move: When Is the Best Time to Find Lower Prices?
Chicago is a seasonal market that may provide you with some benefits based on the season of the year you rent. The peak period for demand and competitive pricing is typically late Spring through early Fall. This is the time when many students graduate from College or High School, and are looking to relocate for employment, and even families of High School Graduates might move because they were only staying put until their kids finished High School.
On the other hand, Winter is generally less busy than Summer. Fewer people are typically moving during the months of December, January, and February, and even fewer will be willing to move if there are icy or snowy conditions expected. Lower demand may result in lower rents or one free month. It may be beneficial to look at rentals in late Fall or mid-Winter rather than trying to rent during the busy Summer months to obtain the best prices and options.
How Rentler Helps Renters and DIY Landlords Navigate Chicago’s Market
Whether you are new to the city or you manage one or two properties, the amount of information required to keep it all straight can be overwhelming. Rentler is a completely free online property management system developed specifically for both renters and landlords. The renters will be able to search rental listings based on rent range, number of bedrooms, location, and required amenities. They may also submit secure rental applications and make online payments through the same portal as their application. The landlord may post rental property listings that automatically syndicate to other major rental property websites. The landlord will also be able to obtain tenant screening reports, monitor and document any needed repairs and maintenance, and accept rent payments electronically. Once you are ready to get an idea of the “real-time” costs for the various options available, visit Chicago Rentals to review all of the current rental options available throughout the Chicago, Illinois area, and compare them by price per neighborhood, size of the apartment, and features until you find the best option for your needs.
FAQ: Average Rent in Chicago
Is the average rent in Chicago really around $2,450 per month?
Yes. Recent market data from RentCafe shows an average rent of about $2,454 per month across all Chicago rentals.
How much should I budget for a one-bedroom apartment?
Plan on roughly $2,300 per month on average, with higher prices in central neighborhoods like River North and lower prices in outlying areas and some older buildings.
Are Chicago rents going up or down right now?
Many downtown neighborhoods have seen rent increases compared with last year, while national averages have softened slightly as more apartments come onto the market.
When is the best time to look for an apartment in Chicago?
You will generally find the most listings in summer, but the most negotiating power and potential for lower prices in winter, when demand is lighter, and vacancies sit longer. Plan accordingly and budget wisely.
