Living in the South Loop, you’ll be surrounded by some of Chicago’s finest destinations. Browse our current apartment rentals, and you can choose a home that’s mere steps from landmarks, great restaurants, world-renowned museums, theaters and more. This neighborhood is just south of downtown, making it the definition of an easy commute for work or pleasure. Bordered by the lake and gorgeous city parks, it also feels more quiet and residential than you might expect for its locale. Thinking this setting sounds too good to be true? If you’re like most people, the next question you’re asking is about rent in South Loop, Chicago. Realistically, how much would it cost to make your home in one of the city’s most convenient and up-and-coming areas? What’s the average rent in South Loop, Chicago, and can you afford to pay it?
Before shopping apartments in the Windy City, it only makes sense to research prices. If you’re curious about the South Loop average rent, here’s what you need to know.
In a neighborhood filled with spectacular architecture, abundant entertainment options and rich history, you might be surprised to find prices aren’t much higher than in the rest of the city. In the South Loop, the average monthly rental cost is $1,960, which is only 9 percent higher than what’s typical in all of Chicago. A studio apartment averages a $1,401 rent, and a one-bedroom, $1,772. Two-bedroom apartments are about $2,270, and three-bedrooms tend to rent in the ballpark of $2,325.
Since the South Loop’s average rent is only slightly higher than the Chicago median, it’s also lower than several popular communities. Prices here are significantly decreased from what you’ll find in expensive areas such as River North, River West, Streeterville or the Loop itself, for example. Even the nearby West Loop averages $2,213 compared to South Loop’s $1,960. If you’re willing to live a little farther from downtown, you can find lower prices in neighborhoods such as East Pilsen, Chinatown or Armour Square — but none with the same advantages of the desirable South Loop.
If you’re ready to learn more about apartments in this community, view our current listings for luxury apartments in the South Loop today!