Airbnb Market Analytics, Statistics and Data in Chicago, Illinois, United States
Last updated: 2025-01-31
Looking to make more money with hosting or rental arbitraging Airbnbs, short-term rentals, vacation rentals in Chicago? AirROI have just the data insights! Over the last twelve months from February 2024 to January 2025, we've uncovered key trends and opportunities that successful hosts are leveraging in Chicago:
How much do Airbnb hosts make on average per month in Chicago?
The short-term rental market in Chicago shows distinct revenue patterns across different property tiers. Our analysis reveals that successful properties combine strategic pricing with quality management to maximize earnings potential. Market data demonstrates clear revenue differentiation among properties:
- Typical properties (median) earn $2,934 per month
- Strong performing properties (top 25%) make $5,108 or more
- Best-in-class properties (top 10%) achieve $8,398+ monthly
- Entry-level properties (bottom 25%) typically earn around $1,461
Revenue Variations by Month
Occupancy Rates Throughout the Year in Chicago
The market in Chicago shows distinct occupancy patterns influenced by seasonal trends and local dynamics. Properties that maintain high guest satisfaction scores and implement strategic pricing consistently achieve stronger occupancy rates. Current market data shows:
- Typical properties (median) maintain 54% occupancy rates
- Strong performing properties (top 25%) achieve 74% or higher
- Best-in-class properties (top 10%) reach 87%+occupancy
- Entry-level properties (bottom 25%) average around 31%
Occupancy Variations by Month
Average Daily Rates Seasonal Trends in Chicago
Daily rates in Chicago vary based on seasonality, property quality, and market dynamics. Properties that effectively balance competitive pricing with strong amenities typically command higher rates. Market analysis shows the following rate structure:
- Typical properties (median) generate $152 per night
- Strong performing properties (top 25%) secure $254 or more
- Best-in-class properties (top 10%) pull in $415+ per night
- Entry-level properties (bottom 25%) earn around $96
Daily Rate Variations by Month
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Seasonality patterns in Chicago
Peak Season (June, August, July)
- Revenue peaks at $5224.62 per month
- Occupancy rates reach 65.13%
- Daily rates average $233.20
Shoulder Season
- Revenue averages $3994.86 per month
- Occupancy maintains 52.47%
- Daily rates hold at $213.66
Low Season (February, December, January)
- Revenue drops to $1999.23 per month
- Occupancy decreases to 34.50%
- Daily rates adjust to $184.66
Is it still profitable to do Airbnb in Chicago in 2025?
Yes! Chicago demonstrates highly seasonal trends requiring strategic adaptation, featuring a healthy occupancy rate of 52% and strong monthly revenue averaging $3995 and As a mature market with 5563 active listings, there's strong demand despite the competition. There's also room for profit through rental arbitrage strategies, if you can identify competitively priced properties. To maximize your return on investment, consider employing the following strategies:
Peak Season Strategy
- Implement premium seasonal pricing strategies
- Set longer minimum stay requirements during high-demand periods
- Enforce stricter cancellation policies
Shoulder Season Strategy
- Maintain competitive market-based pricing
- Offer moderate-length stay incentives
- Target a mix of leisure and business travelers with flexible booking terms
- Focus on weekend getaway packages and mid-week business traveler promotions
Low Season Strategy
- Adjust pricing to remain competitive in the market
- Target different guest segments (business travelers, long-term stays, holiday visitors, event attendees, remote workers)
- Create targeted promotional campaigns to drive occupancy
Top Places to Start Airbnb in Chicago
| Area | Why Choose This Area | Key Attractions |
|---|---|---|
| Lincoln Park | A charming neighborhood known for its beautiful parks, zoo, and vibrant community. Popular with families and young professionals, offering easy access to downtown Chicago. | Lincoln Park Zoo, Lincoln Park Conservatory, Oz Park, North Avenue Beach, DePaul University, Lincoln Park Farmers' Market |
| Wicker Park | A hip and artistic neighborhood known for its indie music scene, trendy boutiques, and diverse dining options. Attracts a youthful crowd and those seeking a lively atmosphere. | Wicker Park, The Den Theatre, Wicker Park Arts District, Dickens Avenue, The Cake Shop |
| The Loop | Chicago's central business district, featuring iconic architecture and a bustling atmosphere. Ideal for business travelers and tourists looking to explore urban landmarks. | Millennium Park, Chicago Art Institute, Willis Tower, Theatre District, Chicago Riverwalk |
| River North | A vibrant area known for its art galleries, nightlife, and proximity to the Magnificent Mile. Popular among tourists and young professionals. | Museum of Contemporary Art, Chicago River, The Magnificent Mile, Café des Architectes, The Merchandise Mart |
| Hyde Park | A historic neighborhood home to the University of Chicago and the Hyde Park Art Center. Offers a mix of cultural attractions and family-friendly amenities. | University of Chicago, Museum of Science and Industry, Hyde Park Art Center, Jackson Park, The Grand Egyptian Museum |
| Pilsen | A culturally rich neighborhood with strong Mexican heritage, known for its murals and excellent dining options. Attracts visitors looking for authentic cultural experiences. | National Museum of Mexican Art, Pilsen Murals, Thalia Hall, Plaza Tenochtitlan, The 606 |
| Logan Square | An up-and-coming neighborhood known for its trendy bars, live music, and diverse dining scene. Popular with younger crowds and artists. | Logan Square Monument, The Congress Theater, Logan Square Farmers' Market, Revolution Brewing, Emerson Park |
| Old Town | A historic neighborhood with Victorian-era architecture, boutique shopping, and a vibrant dining scene. Great for tourists looking for charm and a variety of activities. | Old Town Triangle Historic District, The Second City, St. Michael's Church, North Avenue Beach, Lincoln Park |
Do you need a license for Airbnb in Chicago?
Yes, Chicago requires a license for operating an Airbnb. Current market data shows 80% of active listings maintain proper licensing, confirming this requirement. Getting licensed is an essential first step before listing your property.
Top Performing Airbnb Properties in Chicago
Lincoln Park Joyful Home for 12
Entire Place • 6 bedrooms
Downtown Mich Ave - 6 Penthouses, Sleep 25
Entire Place • 10 bedrooms
Luxury Loft Collection COMBO 01/03 | Terrace
Entire Place • 6 bedrooms
Unique Luxury Fulton Market Penthouse | Sleeps 32
Entire Place • 9 bedrooms
Luxury Loft Collection COMBO 902/903 Terrace
Entire Place • 6 bedrooms
Luxury Designer Penthouse Combo West | Gold Coast
Entire Place • 6 bedrooms
Top Performing Professional Hosts in Chicago
| Host Name | Properties | Grossing Revenue | Stay Reviews | Avg Rating |
|---|---|---|---|---|
| Cloud9 | 68 | $6,238,836 | 1830 | 3.95/5.0 |
| Milan | 66 | $6,210,431 | 3894 | 4.83/5.0 |
| Chicago Hospitality Club | 34 | $3,836,595 | 3152 | 4.38/5.0 |
| Hubbard Holdings | 20 | $3,763,461 | 775 | 4.43/5.0 |
| Studebecker | 40 | $3,407,672 | 1840 | 4.74/5.0 |
| Staywell | 24 | $3,402,589 | 3714 | 4.78/5.0 |
| Patty | 24 | $2,447,775 | 1052 | 4.87/5.0 |
| Sonder (Chicago) | 41 | $2,426,000 | 6546 | 4.57/5.0 |
| Nicole And Matt | 19 | $2,014,217 | 1653 | 4.91/5.0 |
| Innesa | 28 | $2,011,437 | 1066 | 4.57/5.0 |
Additional analytics on vacation rental, real estate, short term rental data in Chicago
AirROI also have other key metrics and comprehensive data for your vacation rental, real estate needs. Go explore the advanced metrics that can help you make informed decisions:
Room Type Distribution
Property Type Distribution
Key Insights
- Market dominated by entire home listings (78.5%), with apartment & condo and house properties comprising 93.9% of inventory
- Untapped potential in boutique & hotels, others, outdoor & mobile segments (6.2% combined)
Room Capacity Distribution
Analysis of 5,563 properties in Chicago shows that 2 bedrooms properties are most prevalent, making up 28.5% of the market. The market tends to favor smaller properties, with 2 bedrooms and 1 bedroom together representing 55.1% of all listings.
Key Insights
- Most common: 2 bedrooms (28.5%)
- Least common: 5+ bedrooms (3.5%)
- Market concentration: 55.1% in top 2 sizes
- Market skew: Favors smaller properties
Guest Capacity Distribution
Analysis of 5,563 properties in Chicago reveals that 4 guests properties dominate the market, representing 20.4% of all listings. The average property accommodates 4.1 guests, with a clear trend towards larger guest capacities. Properties accommodating 4 guests and 8+ guests make up 37.6% of the market.
Key Insights
- Most common capacity: 4 guests (20.4% of market)
- Least common capacity: 1 guest (1.4% of market)
- Average guest capacity: 4.1 guests per property
- Market concentration: 37.6% in top 2 capacity sizes
- Market segmentation: Predominantly larger guest capacities
Booking and Availability Patterns
Available Days Distribution
Booked Days Distribution
Among 5,563 properties in Chicago, the most common availability pattern is 91-180 days (32.5% of properties). For actual bookings, properties most frequently secure bookings for 181-270 days (32.1% of properties).
Key Insights
- Most common availability window: 91-180 days (32.5%)
- Most common booking duration: 181-270 days (32.1%)
- Properties with high availability (180+ days): 52.0%
- Properties with long-term bookings (180+ days): 49.7%
Minimum Stay Distributions
1 Night
100 listings
2% of total
2 Nights
2841 listings
57.1% of total
3 Nights
624 listings
12.6% of total
4-6 Nights
185 listings
3.7% of total
7-29 Nights
135 listings
2.7% of total
30+ Nights
1087 listings
21.9% of total
Key Insights
- Short stays (1-2 nights) dominate the market at 59.1%
- Mid-length stays (4-6 nights) represent 3.7% of listings
- Monthly+ stays (21.9%) suggest a stable extended-stay market
- High market flexibility with 71.7% accepting 3 nights or less
Recommendations
- Set minimum stays between 2-3 nights to align with market standards
- Adjust minimum stays seasonally based on demand patterns
- Consider monthly stay discounts to capture the growing extended-stay market
- Implement different minimum stays for weekends vs. weekdays
Cancellation Policy Distribution
Non-refundable
14 listings
0.3% of total
Refundable
11 listings
0.2% of total
Super Strict 60 Days
12 listings
0.2% of total
Super Strict 30 Days
20 listings
0.4% of total
Flexible
718 listings
14.7% of total
Moderate
1294 listings
26.6% of total
Firm
1015 listings
20.8% of total
Strict
1785 listings
36.7% of total
Key Insights
- Strict is the preferred policy at 36.7% of listings
- The market shows a balanced distribution between guest-friendly (41.3%) and strict (57.5%) policies
- Strong market consensus around Strict policies
- Super Strict 60 Days policies are least common at 0.2% of listings
Recommendations
- Market supports various policies - choose based on your property type and target guests
- Strong market preference for Strict policies suggests this should be your baseline
Booking Lead Time Trends
Key Insights
- Peak booking lead times occur in Jul, Jun, May, averaging 63 days
- Shortest booking windows are in Dec, Feb, Jan, averaging 33 days
- Summer shows the longest average booking window at 61 days, while Winter has the shortest at 33 days
Recommendations
- Implement dynamic pricing strategies for Summer bookings at least 61 days in advance
- Consider early bird discounts during Winter to encourage longer lead times
- Focus on last-minute booking promotions during Dec-Jan when lead times are shortest
Popular Airbnb Amenities in Chicago
Below is the distribution of amenities across listings in Chicago:
Traveler Demographics
Key Insights
- Domestic travelers make up 86.9% of total guests, indicating a dominant local market share.
- Primary international markets: Canada (2.9%) and Mexico (1.4%)
- English is the top language at 71.9%, followed by Spanish (17.6%)
- Notable demographic segment in <=1950s (Pre-1950s (Silent Gen)) at 6.6%
Recommendations
- Target marketing campaigns for Chicago and New York markets
- Develop localized content for Canada and Mexico
- Prioritize English and Spanish language support
- Tailor experiences for Pre-1950s (Silent Gen) while maintaining broad age appeal
- Implement seasonal promotions aligned with key market travel patterns
Nearby Markets
Explore short-term rental performance in markets surrounding Chicago. These nearby markets offer diverse opportunities for property investors and hosts:
| Market | Properties | Monthly Revenue | Daily Rate | Occupancy |
|---|---|---|---|---|
| Town of Sugar Creek | 17 | $8,462 | $656.67 | 50% |
| Twin Lakes | 29 | $6,383 | $496.08 | 43% |
| Fennville | 10 | $6,263 | $405.23 | 45% |
| Laketown Township | 62 | $5,780 | $469.60 | 46% |
| Saugatuck Township | 145 | $5,624 | $488.80 | 43% |
| Town of Geneva | 50 | $5,456 | $390.81 | 47% |
| Lake Geneva | 166 | $5,240 | $423.13 | 44% |
| McHenry | 33 | $5,151 | $479.42 | 45% |
| Ganges Township | 73 | $5,026 | $496.32 | 36% |
| Lake Villa | 10 | $5,010 | $301.45 | 58% |
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