Rents are 8% above what Chicago's 10-year trend predicts — running hotter than its own history.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,311 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
December. Asking rents in Chicago usually run 1.8% below trend in December and 1.6% above it in July, about $79 a month apart at today's median. Based on 11 years of data.
Rent in Chicago is at its highest level since Zillow's records here began in January 2015.
Rent in Chicago changed +5.8% over the year to September 2026. Across the 94 Illinois cities Zillow tracks, the typical change was +4.0%.
From 2019 to 2024, rent in Chicago rose 23% while median household income rose 33.7% ($58,247 to $77,902). Income kept ahead of rent.
Rent in Chicago is 36.9% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 68 months in a row, and rose in 12 of the last 12 months.
30% of the median household income ($77,902) is $1,948 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,925); a 3-bedroom is $2,473.
The priciest of 51 ZIP codes in Chicago, 60601 ($3,042/mo), costs 2.4 times the cheapest, 60649 ($1,281/mo).
Cicero, 5 miles away, rents for 43% less ($1,322/mo), about $11,900 a year in savings.
From Zillow's monthly rent index (ZORI) for Chicago. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Chicago, IL is roughly split between renters and owners, 44.3% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Chicago, IL has changed in 5 years
Across the past five years, the going rent in Chicago, IL has shifted from $1,635 to $2,311, up 41.3% since 2021. Median household income climbed from $65,781 to $77,902 between 2021 and 2024, a 18.4% shift. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Chicago, IL losing about 30,893 residents over the five-year window, down 1.1% on net. Bachelor's-degree-or-higher attainment moved from 41.7% to 44.3% across the same window. Taken together, the five-year picture in Chicago, IL reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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Can you afford rent in Chicago on your salary?
At $2,311/mo, how Chicago rent compares to typical pay (30% rule).
Chicago rent by bedroom count
Median rent for each apartment size in Chicago. Click any size for full breakdown.
Tips for renters in Chicago
Last updated: October 17, 2026
The median rent in Chicago is $2,311/mo as of October 2026. A studio apartment averages $1,595/mo while a 2-bedroom runs $1,925/mo. One-bedroom apartments average $1,705/mo and 3-bedroom units go for $2,473/mo.
At 36% of local median household income ($77,902/yr), Chicago ranks as moderate compared to the national benchmark of 30%. Rents have increased 5.8% over the past year.
Frequently asked questions
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At $2,311/mo, rent takes ~36% of Chicago's median household income ($77,902/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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