Rent Bacon: January 2012
Details for January 2012
|Average Rent||Average Market Time||Total Rented|
|January 2011||$2206||64 days||146|
|January 2012||$2497||54 days||157|
|January 2011||$1722||69 days||96|
|January 2012||$1913||62 days||96|
|January 2011||$1276||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.)