The rent prices in real estate in Chicago, in the Illinois region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per sq.feet in Chicago has risen strongly during the last 6 months. In October, the average price per sq.feet was . In the following month the price per sq.feet rose considerably to $2.1. The price for the following two months in (December, January) had a considerable rise of 3542 %. The price per sq.feet has had a considerable fall of 25 % 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 $19.12 to $4.79 during February, and March.
When referring to the price in Chicago (cities), this has risen considerably in the last 6 months. The average price during our first sample month during October, is . During November the price went through a considerable rise reaching $1,813. During the following two months (December, January) the average price had a considerable rise of 190 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 143 % during the last two months.
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 $1,993 they are 9 % more affordable than the average price for Chicago . The properties with the highest average price have 4 bedrooms, Their price is 46 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,764.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $3.64 / sq.feet, with an average $7.27 / sq.feet price in Chicago. The properties with the most expensive average prices have 1 bedroom. They are 144 % more expensive than the average followed by properties with 4 bedrooms with a price at $11.39 / sq.feet.
The graph displaying the average rent prices displays the property type "Condo" as the most affordable one. At an cost of $1,993 it is 6 % more affordable than the average price in Chicago. "House" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "Duplex". At a price of $2,446 it is 70 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Duplex" at an average price of $1.74 / sq.feet followed by "Apartment" priced at $2.28 / sq.feet. "Townhouse" is the most expensive type of property with a $226.11 / sq.feet value followed by "Office" with an average price of $17.27 / sq.feet.