Apartments in Archer Heights Chicago

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7
$1,195
3757-59 W 59Th St
Chicago, IL
2 BR | Available Now
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West Lawn
8
$895
6000-04 S Troy St 3141-45 W 60th St
Chicago, IL
1 BR | Available Now
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3
$895 - 1,070
6001-6005 S Richmond St 2915-21 W 60th St
Chicago, IL
1 - 2 BR | Available Now
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10
$695
6001-05 S Whipple 3015-3021 W 60th St
Chicago, IL
Studio | Available Now
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Chicago Lawn
8
$995
6057-59 S. California 2742-46 W. 61st St
Chicago, IL
1 BR | Available Now
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Chicago Lawn
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How much does it cost to rent an apartment in Chicago?

Chicago Apartments
Bed Type Average Rent Range
Studio $1,330 $800 - $2,370
1BR $1,900 $910 - $3,140
2BR $2,200 $1,000 - $4,550
3BR $2,700 $1,210 - $7,380
4+BR $3,630 $1,180 - $9,730

Chicago:
June Rent Report

Welcome to the June 2023 Chicago Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the June 2023 key findings and figures for the Chicago rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Chicago and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Chicago average rent prices in the chart below.

Monthly Rent Report

Chicago Rent Prices Decrease From May to June

Chicago rent prices decreased over the last month. From May to June, the city experienced a -0.21% decrease for the price of a one-bedroom apartment. The rent price for a Chicago one-bedroom apartments currently stands at $1,857.0.

When we take a look at the two-bedroom comparison from May to June, Chicago experienced a -0.38% decrease for the price of a two-bedroom apartment. The rent price for a Chicago two-bedroom apartments currently stands at $2,118.0.

June Prices: Chicago vs. Surrounding Areas

Rent Prices in Chicago and Surrounding Areas

Rent prices have decreased in Chicago over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 4 of the Chicago suburbs increased last month. On the other hand, 3 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in Arlington Heights, IL, Lombard, IL, Downers Grove, IL, Schaumburg, IL .

  • Rent decreased in Evanston, IL, Naperville, IL, Oak Park, IL.

  • 7 suburbs are currently priced lower than the city of Chicago.

June 2023 Pricing Trends: Chicago vs. National Comparisons

Chicago Rent Prices More Affordable Than Major Cities

Rent growth in Chicago over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Chicago average rent prices appear to be relatively affordable for local residents.

The price for a Chicago one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Chicago and surrounding area rent prices, take a look at the complete data set below.

Data set for Chicago and suburbs

1 BR June 1 BR M/M % Change 2 BR June 2 BR M/M % Change
Chicago, IL $1,861.0 0.60% $2,126.0 -1.30%
Evanston, IL $1,422.0 -0.28% $1,753.0 -0.23%
Naperville, IL $1,489.0 -0.27% $1,798.0 -1.26%
Oak Park, IL $1,213.0 -0.49% $1,656.0 2.54%
Arlington Heights, IL $1,448.0 1.54% $1,607.0 -0.31%
Lombard, IL $1,685.0 0.18% $2,165.0 -4.96%
Downers Grove, IL $1,606.0 0.56% $1,667.0 0.12%
Schaumburg, IL $1,633.0 2.96% $1,981.0 1.12%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.