Rent Tracker
Rent Inflation in Chicago, IL
The average asking rent in Chicago, IL is $2,275/month as of 2026-06. That is +5.2% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$2,275/mo
as of 2026-06
Year-over-Year Change
+5.2%
24-Month Rent Trend
Monthly ZORI index values for Chicago, IL.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-06 | $2,275 | +0.71% |
| 2026-05 | $2,259 | +0.89% |
| 2026-04 | $2,239 | +0.90% |
| 2026-03 | $2,219 | +1.05% |
| 2026-02 | $2,196 | +0.83% |
| 2026-01 | $2,178 | +0.55% |
| 2025-12 | $2,166 | -0.09% |
| 2025-11 | $2,168 | -0.18% |
| 2025-10 | $2,172 | -0.23% |
| 2025-09 | $2,177 | +0.00% |
| 2025-08 | $2,177 | +0.18% |
| 2025-07 | $2,173 | +0.51% |
| 2025-06 | $2,162 | +0.84% |
| 2025-05 | $2,144 | +0.94% |
| 2025-04 | $2,124 | +1.05% |
| 2025-03 | $2,102 | +0.96% |
| 2025-02 | $2,082 | +0.82% |
| 2025-01 | $2,065 | +0.44% |
| 2024-12 | $2,056 | +0.10% |
| 2024-11 | $2,054 | -0.05% |
| 2024-10 | $2,055 | -0.05% |
| 2024-09 | $2,056 | +0.00% |
| 2024-08 | $2,056 | +0.19% |
| 2024-07 | $2,052 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
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Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices