Apartments for Rent in South Loop, Chicago, IL

South Loop, Chicago apartment availability

South Loop's rental market offers a very strong selection of listings, with an average of over 1,200 rentals available each month. The majority of these listings are 1-bedroom and 2-bedroom apartments, with a smaller number of studios and 3-bedroom units. Many of these apartments offer popular amenities such as in-unit laundry, which is available in about 68% of listings. Additionally, pet owners will find South Loop to be a welcoming neighborhood, with about 63% of apartments allowing small pets. With its diverse range of listings and amenities, South Loop is a great option for renters looking for a convenient and comfortable place to call home.

South Loop, Chicago rental market trends

The South Loop neighborhood in Chicago has experienced a relatively stable rental market, with a slight decrease of 0.25% in average monthly rent year-over-year, now averaging $2,508 per month across all bed counts and property types. Breaking it down by bed count, 1-bedrooms average $2,202 per month, a 0.65% increase from last year, while 2-bedrooms average $2,932, a 0.58% increase. Studios average $1,981, a 3.54% increase, and 3-bedrooms average $4,753, a 4.53% increase.

The rental market in South Loop tends to fluctuate throughout the year, with May typically seeing the highest rent prices, about 3.86% higher than the lowest month, March. If you're looking for a new apartment, March might be a good time to find a deal. In terms of competition, it's essential to be prepared during the peak season, as the most competitive months often see more demand than available inventory. Conversely, the winter months may offer a more relaxed apartment hunt, with fewer renters competing for available units.

Why South Loop, Chicago is a great place to live

South Loop is a neighborhood that seamlessly aligns with the lifestyles and interests of its residents. Our analysis of recent data reveals that this area is particularly well-suited for individuals prioritizing social life and fitness wellness.

For those focused on fitness and wellness, South Loop offers an array of amenities, including onsite gym equipment, abundant natural lighting, and access to health and wellness events. The presence of fitness centers, gyms, farmers' markets, and health food stores further supports a healthy lifestyle. Additionally, features like low VOC materials and soundproofing contribute to a wholesome living environment.

The neighborhood also caters to those with an active social life, thanks to its diverse range of restaurants, a balanced neighborhood age distribution, and convenient transit options. Furthermore, the area's well-maintained street infrastructure and emphasis on safety make it an ideal setting for socializing and community engagement.