The rent prices in real estate in Chicago, in the Illinois region have slightly risen in the last couple of months. There has been a rise in the rent prices in this city.
The price per sq.feet in Chicago has risen during the last 6 months. In September, the average price per sq.feet was $2.56. In the following month the price per sq.feet rose to $2.8. In the following two months the price per sq.feet has risen 106 %, going from $2.68 to $2.84 per sq.feet. The price per sq.feet has fallen 95 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $2.76 to $2.62 during January, and February.
When referring to the price in Chicago (cities), there have hardly been any changes in the last 6 months. In our first sample month during September, the average price is $2,305. In October This price remains at $2,309. During the following two months (November, December) the price has had an average rise from $2,307 to $2,473. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of $2,390 and $2,379.5 between January and February.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of $2,321 they are 6 % more affordable than the average price for Chicago . The properties with the highest average price have 4 bedrooms, Their price is 25 % more expensive than the average. After that we have properties with 2 bedrooms priced at $2,656.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $1.43 / sq.feet, with an average $2.67 / sq.feet price in Chicago. The properties with the most expensive average prices have 1 bedroom. They are 8 % more expensive than the average followed by properties with 2 bedrooms with a price at $2.19 / sq.feet.
The graph displaying the average rent prices displays the property type "Townhouse" as the most affordable one. At an cost of $2,321 it is 17 % more affordable than the average price in Chicago. "Land" is seen as the second most affordable property type. The most expensive property type is "Detached House" followed by "Apartment". At a price of $3,398 it is 287 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Townhouse" at an average price of $1.47 / sq.feet followed by "Land" priced at $1.5 / sq.feet. "House" is the most expensive type of property with a $2.84 / sq.feet value followed by "Condo" with an average price of $2.65 / sq.feet.