Chicago, IL Airbnb Market Data, Statistics, and Occupancy Rates

Chicago Short-Term Rental Market Overview

Chicago's short-term rental market presents an attractive opportunity for investors, backed by 2,754 active Airbnb listings and average annual revenue of $33,268 per property. With an ADR of $171 — well below the Illinois state average of $319 — and above-average occupancy stability, the market rewards operators who price competitively and capitalize on the city's deep well of tourism, convention, and event-driven demand. Larger properties in particular stand out, with 5-bedroom and 6+ bedroom units generating annual revenues approaching or exceeding $100,000.

Key Market Statistics

According to Rabbu market data, the Chicago short-term rental market shows:

Data sources: Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Mar, 17 2026.

Why Investors Consider Chicago

Chicago's blend of year-round demand drivers — from business travel and conventions to summer tourism and a thriving food and culture scene — gives STR investors a diversified revenue base that few Midwest markets can match.

Expert Market Assessment

"With an ROI score of 66 out of 100, Chicago earns an "Attractive Opportunity" designation — a market where healthy demand and reasonable property costs create a solid entry point for STR investors. Seasonality is pronounced: revenue peaks sharply in June at $4,288 per month and dips to roughly $1,116 in February, so investors should plan for meaningful winter softness. The market's above-average occupancy stability is a notable strength, helping to smooth out returns even during slower stretches. Overall, the opportunity is strongest for investors targeting larger multi-bedroom properties in high-demand neighborhoods, where annual revenue potential can meaningfully outpace the market average."

— Rabbu Market Analysis Team

Key Airbnb Metrics & Trends in Chicago

Average revenue by month in Chicago

Chicago's STR revenue follows a sharp seasonal curve, peaking in June at $4,288 and bottoming out in February at $1,116 — nearly a 4× spread. The May-through-October stretch consistently delivers above-average monthly returns, making summer and early fall the critical earning window for investors.

Active Airbnb listings by property size in Chicago

One-bedroom units dominate Chicago's supply at 1,001 listings, followed closely by 2-bedroom properties (891), while larger configurations of 5 bedrooms and above account for fewer than 100 listings combined. This relative scarcity of bigger properties could signal opportunity for investors willing to target the higher end of the market.

Average daily rate (ADR) by property size in Chicago

ADR scales sharply with property size in Chicago, from $106 for 1-bedroom units up to $599 for 6+ bedrooms. The most dramatic per-bedroom premium kicks in between 3-bedroom ($222) and 4-bedroom ($325) properties, suggesting that moving beyond three bedrooms significantly boosts nightly pricing power.

Average RevPAN by property size in Chicago

Revenue per available night climbs steadily with size, from $37 for 1-bedroom units to $184 for 6+ bedroom properties. Four-bedroom and larger listings deliver RevPAN well above the market average of $56, indicating that bigger properties translate their higher ADR into meaningfully stronger per-night returns even after accounting for occupancy.

Average occupancy rates by property size in Chicago

Occupancy rates are relatively compressed across property sizes, ranging from 28% for 3-bedroom units to 36% for studios. Smaller units (studios and 1-bedrooms) stay slightly fuller, which can provide more consistent booking flow for investors prioritizing cash-flow stability over peak revenue.

Average monthly revenue by property size in Chicago

Monthly revenue differences are dramatic: 1-bedroom and studio listings average around $1,850 per month, while 6+ bedroom properties bring in $8,577 — more than 4× as much. The jump from 3-bedroom ($3,440) to 4-bedroom ($6,184) properties represents a particularly notable inflection point for investors seeking higher returns.

Average annual revenue by property size in Chicago

Annual revenue potential increases substantially with size, ranging from roughly $22,000 for studios and 1-bedrooms to over $102,900 for 6+ bedroom properties. Five-bedroom units at $98,759 and 4-bedroom units at $74,212 also stand out as strong revenue generators, offering investors attractive return potential relative to the market-wide average of $33,268.

Most common amenities for Airbnb listings in Chicago

Kitchens (96%), parking (85%), and self check-in (84%) are near-universal among Chicago listings, signaling that guests expect a home-like, convenient experience as the baseline. Amenities like a dedicated workspace (73%) and washer/dryer (75–77%) also show high adoption, reflecting demand from both leisure and business travelers who expect full-service accommodations.

Understanding Chicago's ROI Score: 66/100

Rabbu's ROI Score is a proprietary metric that evaluates short-term rental investment potential based on multiple factors.

How the ROI Score is Calculated

What This Means for Investors

Chicago's ROI score of 66 out of 100 places it in the "Attractive Opportunity" band, reflecting a market where revenue-to-price ratios are average but above-average occupancy stability helps de-risk the investment. Market growth trends and supply/demand balance both register as average, suggesting a maturing but still healthy competitive landscape. Pairing this score with thorough research into Chicago's licensing requirements and neighborhood-level performance data will give investors the clearest picture of where specific opportunities lie.

Short-Term Rental Regulations in Chicago

Understanding local STR regulations is essential before investing in Chicago. Here's the current regulatory landscape:

Permit Requirements

Chicago requires short-term rental operators to register with the city and obtain the appropriate license, which may include a Shared Housing Unit Registration or a Vacation Rental license depending on how the property is used. Investors should verify current permit requirements directly with the City of Chicago's Department of Business Affairs and Consumer Protection before listing.

Key Restrictions

Common restrictions in Chicago's STR regulatory framework include occupancy limits, minimum stay requirements in certain zones, noise and nuisance ordinances, and rules around parking availability. Some buildings and HOAs impose additional restrictions or outright bans on short-term rentals, so reviewing association bylaws is an essential step before purchasing a property for STR use.

Tax Obligations

Short-term rental hosts in Illinois are generally subject to state and local occupancy taxes, including Chicago's Hotel Accommodations Tax and the state's Hotel Operators' Occupation Tax. Major booking platforms typically collect and remit many of these taxes on behalf of hosts, but operators should confirm their full tax obligations with a local tax professional.

Regulations subject to change. Always verify with local authorities before purchasing. A Rabbu partner agent specializing in Chicago can provide current regulatory guidance.

Future Outlook & Long-Term Forecast

"Over the next 12–18 months, Chicago's STR market is expected to maintain steady demand supported by the city's robust event calendar, corporate travel, and lakefront tourism. Seasonal revenue data suggests summer months (June–August) will continue to anchor annual performance, though shoulder months like May and October already show healthy earnings in the $3,500+ range. ADR growth of 1–3% is a reasonable estimate given average market growth trends, while occupancy is likely to hold in the 30–35% range market-wide. Investors entering now can position for relatively predictable cash flow, though winter softness from January through February should be factored into projections."

— Rabbu Market Analysis Team

Frequently asked questions about Airbnb in Chicago, IL

What is the average Airbnb occupancy rate in Chicago?

The average occupancy rate for Airbnb listings in Chicago is currently 33%, which matches the Illinois state average. Occupancy varies by property size — studios and 1-bedroom units tend to fill slightly more often (35–36%), while 3-bedroom properties average around 28%. Seasonal demand shifts also play a role, with summer months driving the strongest booking volumes.

How much do Airbnb hosts make in Chicago?

On average, Airbnb hosts in Chicago earn approximately $2,772 per month or $33,268 per year, based on trailing 12-month booking performance. Earnings vary significantly by property size: 1-bedroom units average about $22,156 annually, while 6+ bedroom properties can generate over $102,926 per year. Peak summer months like June can bring in over $4,200, whereas January and February typically yield closer to $1,100–$1,150.

Is Chicago a good market for Airbnb investment?

Chicago scores a 66 out of 100 on Rabbu's ROI Score, placing it in the "Attractive Opportunity" category. The market benefits from above-average occupancy stability, a diversified demand base spanning tourism, conventions, and business travel, and strong revenue potential for larger properties. Investors should account for meaningful winter seasonality and verify local licensing requirements, but the overall fundamentals support a compelling case for STR investment.

What is the average daily rate (ADR) for Airbnb in Chicago?

The average daily rate for Airbnb listings in Chicago is $171, which is notably below the Illinois state average of $319. ADR scales meaningfully with property size — from $106 for 1-bedroom units up to $599 for 6+ bedroom properties. This pricing structure means larger homes can command premium nightly rates while still maintaining competitive occupancy.

Are short-term rentals legal in Chicago?

Yes, short-term rentals are legal in Chicago, but they are regulated. The city requires hosts to obtain the appropriate license, such as a Shared Housing Unit Registration or a Vacation Rental license, and comply with local ordinances around occupancy, noise, and safety. Some buildings and HOAs may have additional restrictions, so investors should review all applicable rules and confirm current requirements with the City of Chicago before listing a property.

When is peak season for Airbnb in Chicago?

Peak season for Chicago Airbnb rentals runs from May through October, with June being the strongest revenue month at an average of $4,288 per listing. July, August, and September also perform well, each exceeding $3,300. The winter months — particularly January ($1,148) and February ($1,116) — represent the market's off-peak period, so hosts should plan pricing and expense strategies accordingly.

How many Airbnbs are there in Chicago?

As of April 2026, there are 2,754 active Airbnb listings in Chicago. The market has seen significant year-over-year growth of 133% in listing count. One-bedroom units make up the largest share of supply at 1,001 listings, followed by 2-bedroom properties (891) and 3-bedroom units (470).

How is Airbnb revenue calculated in Chicago?

The annual and monthly revenue figures for Chicago are derived from the trailing 12 months of historical booking performance for active comparable Airbnb listings in the market — they are not forward-looking projections. Rabbu averages each comparable listing's actual revenue per available night (RevPAN) by month over the past year, removes regional outliers, and rolls the remaining data up to a market-level historical average. This approach anchors the figures to what hosts have actually earned recently while naturally reflecting seasonal peaks and slower months, since each month uses its own historical performance. Individual results can vary based on property quality, pricing strategy, and how actively the listing is managed.

About Rabbu Market Data

Rabbu provides Airbnb and short-term rental market data and statistics across the United States. Our mission is to empower investors with accurate insights and easy-to-use tools, so they can confidently identify and act on the best opportunities in the Airbnb market.

What this data includes

• Regularly updated active Airbnb and STR listing counts by market and property size
• Occupancy, ADR, and RevPAN trends across bedroom configurations
• Monthly and annual revenue metrics based on trailing 12-month booking performance
• Average home value data sourced from the Zillow Home Value Index (ZHVI)
• Amenity prevalence data reflecting current listing features across the market

Sources and disclaimers

Rabbu proprietary analytics as of Apr, 27 2026 and Zillow Home Value Index (ZHVI) as of Mar, 17 2026. Revenue projections are estimates based on comparable properties and do not guarantee future performance. Data reflects trailing performance as of April 2026 and may not capture very recent market shifts. Local regulations, HOA rules, and tax obligations can change; investors should verify current requirements with local authorities before purchasing.