Rent Bacon: February 2012

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

Details for February 2012

 Average RentAverage Market TimeTotal Rented
Zone 1
February 2011$220270 days135
February 2012$236245 days156
Zone 2
February 2011$174765 days49
February 2012$181446 days73
Zone 3
February 2011$124264 days13
February 2012$138958 days23

Stats reflect pricing and activity for 2 bedroom, 2 bathroom 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.)

Want more Bacon? Here's last month's update.