STR Market Report
Chicago, IL
Illinois • Short-Term Rental Market
Key Market Metrics
37%
Entire-home, active listings
Occupancy Rate
~11 nights booked per month on average
$162
Median, entire-home
Avg Nightly Rate
Typical price per night charged by whole-home hosts in this market
4,767
Had a review in past 12 mo
Active Listings
Whole-home Airbnbs with at least 1 recent guest review — active supply
$1,798
~11 booked nights / month
Est. Monthly Revenue
Directional gross booking revenue estimate before fees, expenses, and seasonality shifts
Licensed
Permit required — manageable for most operators with proper compliance
Regulatory Risk
Quick Investor Read
Higher-risk setup due to weaker demand, pricing constraints, or regulation. Underwrite conservatively.
Market Dynamics
2 nights
Typical host minimum
Median Min Stay
Most common minimum booking length. Short = weekenders welcome. Long (7+ nights) = weekly guests only.
40%
Hosts with 5+ listings
Pro Host Rate
Significant investor presence — you'll compete with experienced multi-property operators
2.1/mo
Median reviews per month
Booking Velocity
How quickly typical listings earn new reviews — a proxy for how often properties get booked. Higher = stronger demand.
87%
Have a permit on file
Licensed Listings
High compliance rate — regulations are actively enforced here. Budget for permitting before listing.
🏖️ Demand Seasonality: Summer peak
Peak demand June–August; shoulder spring/fall; lower winter occupancy
Market Overview
Chicago, Illinois is one of the largest urban STR markets in the Midwest, benefiting from world-class museums, architecture tours, deep-dish pizza tourism, and a thriving convention scene at McCormick Place. The city requires a Shared Housing license and regulates the number of STR units per building. Lakeview, Lincoln Park, and River North are consistently top-performing neighborhoods. Summer (June-September) dominates occupancy, but Chicago's strong business travel base provides meaningful off-peak demand, particularly around major conventions.
Top STR Neighborhoods
Premium Pricing Pocket
Near North Side
Avg nightly rate: $2,926
Highest Occupancy Pocket
Edgewater
Avg occupancy: 47.6%
Best Balanced Opportunity
Near North Side
Healthy mix of demand, pricing, and listing depth
- 1Lincoln Park
- 2Wicker Park
- 3River North
- 4Logan Square
- 5Lakeview
Ranked by active listing count (Inside Airbnb data).
Compare Similar Markets
Markets in Americas with similar investment-score profiles:
Live Market Analytics
Source: Inside Airbnb · 2025-09-22Listing Locations & Pricing
Listing Types
- Entire Home77%
- Private Room21.2%
- Hotel Room1.4%
- Shared Room0.4%
Takeaway: entire home apt dominates this market snapshot.
Price Distribution (per night)
Takeaway: the highest concentration of listings sits in the $101–150 nightly range.
Occupancy Rate Distribution
Takeaway: most listings cluster around 0–10% occupancy.
Monthly Seasonality (from booking calendar)
Peak month in this snapshot: Sep (51.4% occupancy).
Neighbourhood Breakdown (top 15)
| Neighbourhood | Listings ↓ | Avg Price | Occupancy | Avg Rating |
|---|---|---|---|---|
| Near North Side | 1,028 | $2,926 | 33.2% | — |
| West Town | 777 | $290 | 38.7% | — |
| Near West Side | 607 | $253 | 33.1% | — |
| Loop | 593 | $1,502 | 37.8% | — |
| Lake View | 549 | $247 | 45% | — |
| Logan Square | 464 | $183 | 45.5% | — |
| Lincoln Park | 293 | $282 | 38.8% | — |
| Near South Side | 260 | $254 | 21.5% | — |
| Lower West Side | 235 | $134 | 45.8% | — |
| Woodlawn | 222 | $106 | 31.9% | — |
| Avondale | 193 | $152 | 40.5% | — |
| Irving Park | 189 | $144 | 42.2% | — |
| Bridgeport | 186 | $107 | 28.5% | — |
| Uptown | 181 | $158 | 38.3% | — |
| Edgewater | 174 | $166 | 47.6% | — |
Source: Inside Airbnb. Click column headers to sort.
Analytics derived from Inside Airbnb public datasets. Data reflects the snapshot date above. Not financial advice.
Want verified, real-time data?
Get professional analytics for Chicago
Our estimates are a starting point — these tools give you neighborhood-level occupancy, revenue projections, and comp analysis from live Airbnb data.
Real-time occupancy, ADR, and RevPAR by neighborhood. The industry standard for STR market research.
View Chicago data on AirDNA →Combines Airbnb data with traditional rental comps. Great for comparing STR vs long-term rental ROI.
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Investment Score Breakdown
Score formula: Occupancy (max 45 pts) + ADR (max 30 pts) + Regulatory environment (up to 25 pts). Max score: 100.
Challenging market — lower occupancy, rate constraints, or restrictive regulations make Chicago a higher-risk choice for new STR investors.
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