Bronzeville Rent Analysis – Chicago
Let’s take a quick look at rent prices in Chicago’s Bronzeville neighborhood.
This analysis is based on the 12 month period ending NOV-21-2013.
The picture above shows us the distribution of rent prices in Bronzeville.
The biggest slice of the pie represents the price range of $1,400 to $1,599.
The 2nd largest slice covers the price range of $1,200 to $1,399.
Together, they account for 50% of all rental transactions. So, half of the rentals
in Bronzeville are between $1,200 and $1,599.
A total of 206 units were rented during the last 12 months. So an average of 17
units are rented each month in the Bronzeville neighborhood. Here are the median
rents based on bedroom and bathroom counts:
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1 bed/1 bath: $837
2 bed/1 bath: $972
2 bed/2 bath: $1,254
3 bed/1 bath: $1,104
3 bed/2 bath: $1,533
3 bed/3 bath: $1,955
4 bed/1 bath: $1,225
4 bed/2 bath: $1,514
4 bed/3 bath: $1,997
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Out of curiosity, I also wanted to compare the average rent for a 3bed/2bath
to the previous year’s amount. This way we can tell if rent prices are rising or
if they are falling.
During the previous 12 month period, a 3bed/2bath rented for $1,483 on average.
So the rent amount has increased by 3.4 % versus the previous year.
Well that’s all for now. I hope you found this information useful. If you are a tenant
looking for a Bronzeville rental, or if you are a landlord looking to rent out your
property, please contact me here.
In closing, I will leave you with a nice picture of a Bronzeville Mural.
This outdoor painting is near 40th and King Drive.
Bronzeville Mural
Until the next time,
Mark Killion
Kale Realty
542 W. Roosevelt Rd
Chicago, IL 60607
Visit me online: www.773property.com
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