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 November, the average price per sq.feet was $2.45. In December this price barely changed remaining at $2.52 per sq.feet. In the following two months the price per sq.feet has risen 107 %, going from $2.48 to $2.66 per sq.feet. The price per sq.feet has risen 111 % 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 $2.57 to $2.86 during March, and April.
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 November, the average price is $1,934. In December This price remains at $1,924. In the following two months the average price has hardly changed with regard to the previous two months from $1,929 to $1,995. Based on an analysis of the first four prices and the last two months the average price has increased 108 % 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 $2,079 they are 5 % more affordable than the average price for Chicago . The properties with the highest average price have 4 bedrooms, Their price is 34 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,649.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $2.06 / sq.feet, with an average $2.77 / sq.feet price in Chicago. The properties with the most expensive average prices have 4 bedrooms. They are 3 % more expensive than the average followed by properties with 1 bedroom with a price at $2.85 / sq.feet.
The graph displaying the average rent prices displays the property type "Villa" as the most affordable one. At an cost of $2,079 it is 44 % 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 "Condo". At a price of $2,381 it is 41 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "House" at an average price of $2.42 / sq.feet followed by "Condo" priced at $3.07 / sq.feet. "Townhouse" is the most expensive type of property with a $56.35 / sq.feet value followed by "Villa" with an average price of $31 / sq.feet.