Average Rent in Chicago 2026
Chicago Rent Prices by Bedroom
1 Bedroom
$1,800
per month
2 Bedrooms
$2,300
per month
3 Bedrooms
$2,800
per month
Chicago Rent History (Last 7 Years)
How average 1-bedroom rent in Chicago has shifted year-over-year. Useful context when judging whether today's rate is a good deal or whether a renewal increase is in line with the trend.
Monthly Housing Cost Breakdown in Chicago
Rent is only part of your monthly housing cost. Here is what the average Chicago renter pays when you add utilities, internet, and renters insurance to rent.
| Expense | 1-Bedroom | 2-Bedroom | 3-Bedroom |
|---|---|---|---|
| Rent | $1,800 | $2,300 | $2,800 |
| Utilities (electric, gas, water, trash) | $100 | $125 | $150 |
| Internet | $70 | $70 | $70 |
| Renters insurance | $17 | $20 | $23 |
| Total monthly | $1,987 | $2,515 | $3,043 |
Utility estimates scale with Chicago’s cost of living index (107). Your actual bill depends on unit size, climate, and individual usage.
Cost of Living in Chicago
107
Cost of Living Index (100 = national average)
Chicago's cost of living index is 107, which is 7% above the national average. This index factors in housing, groceries, transportation, healthcare, and utilities. A higher number means you need more income to maintain the same standard of living compared to the national average.
Chicago Rent by Neighborhood
Chicago 1-bedroom rent varies meaningfully by neighborhood — pricier districts run about 67% above the most affordable areas. Below are the major rental neighborhoods, ranked by average 1-bedroom rent.
| Neighborhood | Avg 1BR Rent |
|---|---|
| River North | $2,500 |
| West Loop | $2,400 |
| Lincoln Park | $2,200 |
| Wicker Park | $1,900 |
| Logan Square | $1,700 |
| Pilsen | $1,500 |
River North ($2,500/mo) sits at the top end while Pilsen ($1,500/mo) anchors the affordable end. Splitting a 2-bedroom in a pricier neighborhood often costs less per person than a solo 1-bedroom there.
Chicago at a Glance
Population
2.7M
Median Income
$65,781
COL Index
107
Rent Control
No
How Much Income Do You Need to Rent in Chicago?
The widely accepted guideline is to spend no more than 30% of your gross income on rent. Here is the minimum annual income you need to afford an apartment in Chicago by bedroom count.
| Apartment | Monthly Rent | Min Annual Income | Min Hourly Wage |
|---|---|---|---|
| 1-Bedroom | $1,800/mo | $72,000 | $34.62/hr |
| 2-Bedroom | $2,300/mo | $92,000 | $44.23/hr |
| 3-Bedroom | $2,800/mo | $112,000 | $53.85/hr |
Based on the 30% rule and a 2,080-hour work year. Many landlords also require gross income of 2.5x to 3x the monthly rent or a guarantor who earns 80x rent annually.
What Rent Can You Afford in Chicago at Your Income?
Use this table to see the maximum monthly rent you can afford at different income levels, and which Chicago apartment sizes that fits.
| Annual Income | Gross Monthly | Max Rent (30%) | Fits in Chicago |
|---|---|---|---|
| $40,000/yr | $3,333 | $1,000 | Roommate required |
| $60,000/yr | $5,000 | $1,500 | Roommate required |
| $80,000/yr | $6,667 | $2,000 | 1-bedroom |
| $100,000/yr | $8,333 | $2,500 | 2-bedroom or smaller |
| $150,000/yr | $12,500 | $3,750 | 3-bedroom or smaller |
If your income puts a solo 1-bedroom out of reach, splitting a 2-bedroom with a roommate drops your share to $1,150 in Chicago — often the difference between affordable and not.
How Much You Save with a Roommate in Chicago
Save $650/month
by splitting a 2-bedroom with a roommate
Solo 1BR
$1,800
per month
Split 2BR
$1,150
per person/month
Annual Savings
$7,800
per year
Instead of paying $1,800 for a 1-bedroom on your own, splitting a 2-bedroom ($2,300) with one roommate brings your share to $1,150. That is $7,800 per year you could put toward savings, investments, or paying down debt. See the fair rent split calculator when rooms aren’t equal sizes.
Move-In Costs in Chicago
On top of your first month's rent, expect these upfront costs before the keys are in your hand. Plan for roughly 2-3 months of rent saved before signing a lease.
Security Deposit
$1,800–$3,600
1-2 months' rent, refundable
First Month
$1,800
Due at lease signing
Broker/App Fees
$50–$1,800
Varies by market and listing
Total upfront cash to sign a 1-bedroom lease in Chicago: $3,650–$7,200 depending on broker fees and deposit size.
Rent Control in Chicago
Chicago, IL does not currently have rent control or rent stabilization laws. Landlords can raise rent by any amount at lease renewal, though they are typically required to provide advance notice (usually 30-60 days). If you are concerned about rent increases, consider negotiating a longer lease term for price stability.
How Chicago Compares to Other US Cities
Chicago sits slightly above the US average on rent. Compare the 1-bedroom price with nearby tiers to see where you could move to spend less, or what to expect if you go pricier.
Cheaper than Chicago
See the full comparison across 50 US cities on the rent data hub or the cost of living comparison.
Rent Calculators for Chicago Renters
Use these free calculators to plan your Chicago rental budget, split rent with roommates, and check if you qualify for an apartment.
Rent Affordability Calculator
Find out how much rent you can afford based on your income.
Fair Rent Split Calculator
Split rent fairly by room size, features, and income.
Rent-to-Income Calculator
Check if you meet the 3x rent rule landlords require.
Renter Budget Calculator
Build a 50/30/20 budget around your rent payment.
Frequently Asked Questions About Renting in Chicago
Is Chicago expensive to rent in?
Chicago is moderately priced compared to coastal cities. A 1-bedroom averages $1,800 per month in 2026, which is about 7% above the national average. Neighborhoods like Lincoln Park and River North are among the priciest, while the South and West sides offer more affordable options.
How much income do you need to rent in Chicago?
Using the 30% rule, you need a gross monthly income of about $6,000 ($72,000 annually) to afford an average $1,800/month 1-bedroom. Chicago is significantly more affordable than NYC, LA, or San Francisco for renters.
How much can you save by splitting rent with a roommate in Chicago?
Splitting a 2-bedroom ($2,300/month) with one roommate brings your share to $1,150, saving you $650 per month or $7,800 per year versus renting a 1-bedroom alone.
What utilities should you budget for in Chicago?
Renters in Chicago typically pay about $100 per month for utilities (electric, gas, water, trash) on a 1-bedroom apartment. Internet adds another $60-$80 per month, and renters insurance runs around $17 per month. Altogether, plan for roughly $187 on top of your $1,800 rent.
How much is a security deposit in Chicago?
Most Chicago landlords ask for a security deposit equal to 1 month's rent — about $1,800 for a 1-bedroom at the Chicago average. Some properties charge up to 2 months ($3,600), especially for tenants without local rental history or with lower credit scores. Pet deposits usually add another $250-$500 on top.
Is Chicago affordable on the median household income?
Not comfortably. The median household income in Chicago is $65,781 (about $5,482 per month), and the average 1-bedroom rent of $1,800 eats up about 33% of gross monthly income — well above the 30% rule. Many Chicago renters split a 2-bedroom with a roommate or look for units in the city's cheaper neighborhoods to bring the share below 30%.
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Pillar Guide
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Planning to rent in Chicago?