Rents are 9% 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 $2,395 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: August 17, 2026
Is your rent fair?
Compare your rent to the local median.
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 $1,703 to $2,395, up 40.6% 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.
Discussions about Chicago
No discussions yet. Start the conversation.
Can you afford rent in Chicago on your salary?
At $2,395/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: August 17, 2026
The median rent in Chicago is $2,395/mo as of August 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 37% of local median household income ($77,902/yr), Chicago ranks as moderate compared to the national benchmark of 30%. Rents have increased 8.0% over the past year.
Frequently asked questions
Is Chicago an affordable city for renters?
How much income do you need to rent in Chicago?
Is rent going up or down in Chicago?
Which Chicago neighborhoods have the lowest rent?
How does Chicago rent compare to other cities in Illinois?
Which nearby cities are cheaper to rent in than Chicago?
What percentage of Chicago residents rent vs. own?
How does Chicago rent compare to the national average?
At $2,395/mo, rent takes ~37% of Chicago's median household income ($77,902/yr). The standard benchmark is 30%.
How does this area stack up?
Pick another city or ZIP to compare.
Estimated from ZIP-level data
Be the first to submit your rent for Chicago.
No discussions yet.
