Rent Bacon: January 2012

Average change in Rent rates & Market times, Jan 2011 vs Jan 2012, Chicago (corrected July 2012)

Details for January 2012

Average Rent Average Market Time Total Rented
Zone 1
January 2011 $2206 64 days 146
January 2012 $2497 54 days 157
Zone 2
January 2011 $1722 69 days 96
January 2012 $1913 62 days 93
Zone 3
January 2011 $1246 47 days 21
January 2012 $1292 61 days 24

Stats reflect pricing and activity for 2 bedroom apartments rented by Realtors and listed in ConnectMLS.

What is Rent Bacon?

Rent Bacon is a quick visual summary of what’s happening in the rental market this month compared with this time last year. It breaks the city down into three zones. For each zone, it takes the change in average rent rates and the change in average market times as percentages, and then averages the two percentages together.

Zone 1 covers central Chicago from South Loop through Lincoln Park. (Actual coordinates: 2000 South to 2000 North, from Western Ave to the Lake).

Zone 2 covers the near North side of Chicago, including Lakeview, Bucktown, Uptown, Lincoln Square, Roscoe Village and NorthCenter. (Actual coordinates: 2000 North to 5200 North, from Western Ave to the Lake.)

Zone 3 covers the Far North and Near South side of Chicago, including Edgewater, Andersonville, Rogers Park, West Ridge, Chinatown, Bridgeport and Douglas. (Actual coordinates: 5200-7600 North plus 2000-4500 South, from Western Ave to the Lake.)

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