The average rent price in the Illinois region has had an strong rise in recent months. There has been a strong rise in the rent prices in this region.
The price per sq.feet in Illinois has risen considerably in the last 6 months. During March, the average price per sq.feet was $2.1. In April the price barely changed remaining at $2.15 per sq.feet. The price per sq.feet for the following two months barely changed going from $2.12 to $2.2 per sq.feet. In the last two months, the price per sq.feet has had a significant rise of 193 %. This has been obtained by comparing the price of $2.16 for the first four months of the sample with regard to the previous 4 months and the price of $4.18 per sq.feet for the last two months (July, August).
When referring to the price in Illinois(region), this has risen in the last 6 months. The average rent price in March is $1,562. In April the price rose to $1,705. The average price for the following two months (May, June) rose from $1,633.5 to $1,770.5. During the last two months the price has gone up 106 % compared to the previous average values going from $1,702 a $1,804.5 in July y August.
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 6 % cheaper than the average price in Illinois followed by those with 2 with an average price of $2,018. The most expensive properties have 4 bedrooms. They are 54 % more expensive than the average followed by those properties with 3 bedrooms priced at $2,066.
Based on the average price per sq.feet those properties with 4 bedrooms are the most affordable ones with a price of $1.5 / sq.feet being $6.12 / sq.feet the average for Illinois. The properties with the lowest average price are those with 1 bedroom. These are 30 % more affordable than the average followed by those with 2 bedrooms with a price of $2.78 / sq.feet.
The graph displaying the average rent price according to the property type shows "Commercial" as the most affordable one. With an average cost of $1,798 it is 30 % cheaper than the average in Illinois. This is followed by "House" with a cost of $1,561. The most expensive property type is "Condo" and is 48 % more costly than the average, followed by "Land" with a cost of $2,150.
Based upon the average cost per sq.feet the most affordable property type is "House with a an average price of $2.16 / sq.feet, followed by "Townhouse" with a price of $2.44 / sq.feet. "Condo" with an average price of $121.59 / sq.feet is the most expensive type of property followed by "Land" at a price of $38 / sq.feet.