The average rent price in the Illinois region has had a strong fall in recent months. There has been a strong fall in the rent prices in this region.
The price per sq.feet in Illinois has fallen considerably in the last 6 months. During June, the average price per sq.feet was $3. The following month (July) the price had a considerable rise reaching $4.18 per sq.feet. The following two months (August, September) went through a considerable fall of 55 % in the rent price per sq.feet with regard to the previous two. In the last two months, the price per sq.feet has had a significant fall of 75 %. This has been obtained by comparing the price of $2.78 for the first four months of the sample with regard to the previous 4 months and the price of $2.08 per sq.feet for the last two months (October, November).
When referring to the price in Illinois(region), this has risen in the last 6 months. The average rent price in June is $1,739. In July the price rose to $1,884. In the following two months the average price practically remained the same compared to the previous two going from $1,811.5 to $1,754. During the last two months the price has gone up 106 % compared to the previous average values going from $1,782.75 a $1,883 in October y November.
The graph displaying the the average rent price per number of bedrooms shows that those with 1 bedroom are the most affordable ones. They are 14 % cheaper than the average price in Illinois followed by those with 2 with an average price of $1,652. The most expensive properties have 4 bedrooms. They are 56 % more expensive than the average followed by those properties with 3 bedrooms priced at $1,903.
Based on the average price per sq.feet those properties with 4 bedrooms are the most affordable ones with a price of $1.46 / sq.feet being $2.11 / sq.feet the average for Illinois. The properties with the highest average price are those with 3 bedrooms. These are 24 % more expensive than the average followed by those with 1 bedroom with a price of $2.36 / sq.feet.
The graph displaying the average rent price according to the property type shows "House" as the most affordable one. With an average cost of $1,837 it is 13 % cheaper than the average in Illinois. This is followed by "Land" with a cost of $2,058. The most expensive property type is "Apartment" and is 53 % more costly than the average, followed by "Commercial" with a cost of $2,661.
Based upon the average cost per sq.feet the most affordable property type is "Commercial with a an average price of $1.21 / sq.feet, followed by "Apartment" with a price of $1.28 / sq.feet. "Townhouse" with an average price of $6.37 / sq.feet is the most expensive type of property followed by "House" at a price of $3.07 / sq.feet.