Over the past 3–6 months, Chicago has experienced steady rental price growth, with rents increasing approximately 5.1% year-over-year as the market continues to recover and strengthen from previous downturns. This upward momentum is being driven by tightening vacancy rates in high-demand neighborhoods like Logan Square, Lincoln Park, and Andersonville, combined with a slowdown in new multifamily construction and rising interest rates keeping potential buyers in the rental market longer. The market is benefiting from Chicago's diverse economy, robust job market, and major universities including the University of Chicago, Northwestern, and DePaul, which continue to drive demand for rental properties, particularly in trendy, walkable neighborhoods like Wicker Park and Pilsen. However, landlords are facing margin pressure from rising property taxes and insurance premiums in Cook County, creating challenges in balancing rent increases with affordability and regulatory compliance. As of Q2 2025, the current median rent across all unit types in Chicago is approximately $3,525.
Apartment listings
Below are some recent listing examples.
(Data sourced from Apartments.com)