The rent prices in real estate in Oak Park, 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 Oak Park has risen strongly during the last 6 months. In June, the average price per sq.feet was $2.13. In the following month the price per sq.feet rose to $2.41. The price for the following two months in (August, September) had a considerable rise of 736 %. The price per sq.feet has had a considerable fall of 26 % 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 $9.49 to $2.43 during October, and November.
When referring to the price in Oak Park (cities), there have hardly been any changes in the last 6 months. In our first sample month during June, the average price is $1,968. In July This price remains at $1,973. In the following two months the average price has hardly changed with regard to the previous two months from $1,970.5 to $1,979.5. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 89 %, going from $1,975 to $1,761 in October and November.
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 $1,753 they are 14 % more affordable than the average price for Oak Park . The properties with the highest average price have 4 bedrooms, Their price is 116 % more expensive than the average. After that we have properties with 3 bedrooms priced at $2,353.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of $1.59 / sq.feet, with an average $2.87 / sq.feet price in Oak Park. The properties with the most expensive average prices have 2 bedrooms. They are 197 % more expensive than the average followed by properties with 1 bedroom with a price at $5.41 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $1,753 it is 6 % more affordable than the average price in Oak Park. "Condo" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "". At a price of $1,836 it is 16 % 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 $2.06 / sq.feet followed by "Land" priced at $12 / sq.feet. "House" is the most expensive type of property with a $17.15 / sq.feet value followed by "Condo" with an average price of $15.89 / sq.feet.