Monthly apartment rent and rental growth in Chicago, IL, 2018-2023
The median rent for one- and two-bedroom apartments in Chicago, Illinois, amounted to about 1,643 U.S. dollars by the end of 2023. Rents decreased slightly after the beginning of the coronavirus pandemic, but this trend quickly reversed, and as of January 2022, the annual rental growth stood at around 11 percent. Furthermore, no notable variation in rental growth was observed in December 2023 in comparison to the previous year. Among the different states, Illinois ranked alongside Texas, South Carolina, and Pennsylvania in terms of rental costs.