How many apartments are available in 60616 on Rentable.co?

Rentable.co has 32 apartments available for rent in 60616.

What is the average rent for an apartment in 60616?

The average rent for an apartment in 60616 is around $1,430 per month.

What is the average rent for a one-bedroom apartment in 60616?

The average rent for a one-bedroom apartment in 60616 is around $1,462 per month.

What is the average rent for a two-bedroom apartment in 60616?

The average rent for a two-bedroom apartment in 60616 is around $1,375 per month.

What is the average rent for a studio apartment in 60616?

The average rent for a studio apartment in 60616 is around $1,054 per month.

Apartments in 60616

Chicago:
December Rent Report

Welcome to the December 2024 Chicago Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the December 2024 key findings and figures for the Chicago rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Chicago and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Chicago average rent prices in the chart below.

Monthly Rent Report

$2,350

$1,760

$1,180

$590

Jan. 2024

Feb. 2024

Mar. 2024

Apr. 2024

May. 2024

Jun. 2024

Jul. 2024

Aug. 2024

Sep. 2024

Oct. 2024

Nov. 2024

Dec. 2024

1 BR 2 BR

Chicago Rent Prices Increase From November to December

Chicago rent prices increased over the last month. From November to December, the city experienced a 0.58% increase for the price of a one-bedroom apartment. The rent price for a Chicago one-bedroom apartments currently stands at $1,914.0.

When we take a look at the two-bedroom comparison from November to December, Chicago experienced a -0.61% decrease for the price of a two-bedroom apartment. The rent price for a Chicago two-bedroom apartments currently stands at $2,126.0.

December Prices: Chicago vs. Surrounding Areas

Schaumburg, IL

Des Plaines, IL

Chicago, IL

Evanston, IL

Arlington Heights, IL

Naperville, IL

Oak Park, IL

$2,056

$1,979

$1,903

$1,778

$1,449

$1,412

$1,346

$700

$1,400

$2,100

$2,800

Median 1 BR Rent

Rent Prices in Chicago and Surrounding Areas

Rent prices have increased in Chicago over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 4 of the Chicago suburbs increased last month. On the other hand, 2 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

Rent increased in Oak Park, IL, Arlington Heights, IL, Schaumburg, IL, Des Plaines, IL .
Rent decreased in Naperville, IL, Evanston, IL.
2 suburbs are currently priced higher than the city of Chicago.
4 suburbs are currently priced lower than the city of Chicago.

December 2024 Pricing Trends: Chicago vs. National Comparisons

New York, NY

San Francisco, CA

Los Angeles, CA

Washington, DC

Chicago, IL

Columbus, OH

Minneapolis, MN

Pittsburgh, PA

$4,134

$3,160

$2,389

$2,353

$1,914

$1,318

$1,255

$1,234

$1,350

$2,700

$4,050

$5,400

Median Rent

Chicago Rent Prices More Affordable Than Major Cities

Rent growth in Chicago over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Chicago average rent prices appear to be relatively affordable for local residents.

The price for a Chicago one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Chicago and surrounding area rent prices, take a look at the complete data set below.

Data set for Chicago and suburbs

	1 BR December	1 BR M/M % Change	2 BR December	2 BR M/M % Change
Chicago, IL	$1,903.0	0.90%	$2,139.0	0.19%
Oak Park, IL	$1,346.0	0.37%	$2,087.0	3.83%
Naperville, IL	$1,412.0	-0.56%	$1,838.0	0.33%
Evanston, IL	$1,778.0	-0.39%	$2,311.0	1.81%
Arlington Heights, IL	$1,449.0	5.23%	$1,932.0	-0.16%
Schaumburg, IL	$2,056.0	1.03%	$2,522.0	1.37%
Des Plaines, IL	$1,979.0	2.27%	$2,451.0	3.64%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.