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MEDIAN RENT IN 20 MAJOR ILLINOIS COMMUNITIES

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AUG 15, 2014Money-House-800x695
Fewer Americans are making home ownership a top priority than before the recession and accompanying housing market collapse, according to the Washington Post. Only 61 percent say owning a house is emblematic of the American Dream, 17 percent lower than the high point in 1986. But more people in Illinois own the homes they live in (more than 78 percent) than people who own the homes they live in nationally, according toareavibes.com. A little more than 72 percent of Americans own the homes they live in.

Illinoisans who choose to own the houses they live in face decisions about which communities fit best for them and their housing budgets. The nearly 22 percent of Illinoisans who rent their homes face the same questions in a completely different market. The average rent asked for a home in Illinois is $791 per month, according to areavibes.com, just barely less than the national average of $801 per month.

There are homes for rent in nearly every community in Illinois, whether as apartments or single-family homes. The median varies in each city depending on housing demand and proximity to amenities such as shopping, restaurants and transportation.

Median rents for 20 Illinois communities:

These Illinois communities have median rents above the state median:

Naperville: 13 percent of homes are renter-occupied with a median rent of $1,150 per month

Evanston: 41.3 percent of homes are renter-occupied with a median rent of $1,092 per month

Aurora: 25.6 percent of homes are renter-occupied with a median rent of $979 per month

Chicago: 49.9 percent of homes are renter-occupied with a median rent of $885 per month

Joliet: 25.4 percent of homes are renter-occupied with a median rent of $819 per month

These Illinois communities have median rents below the state median:

East St. Louis: 46 percent of homes are renter-occupied with a median rent of $487 per month

Mt. Vernon: 35.2 percent of homes are renter-occupied with a median rent of $567 per month

Carbondale: $68.2 percent of homes are renter-occupied with a median rent of $571 per month

Rock Island: 30.2 percent of homes are renter-occupied with a median rent of $574 per month

Decatur: 33 percent of homes are renter-occupied with a median rent of $594 per month

Moline: 29.6 percent of homes are renter-occupied with a median rent of $637 per month

Rockford: 33.9 percent of homes are renter-occupied with a median rent of $655 per month

Springfield: 31.8 percent of homes are renter-occupied with a median rent of $671 per month

Peoria: 37.8 percent of homes are renter-occupied with a median rent of $675 per month

Normal: 41.8 percent of homes are renter-occupied with a median rent of $691 per month

Belleville: 34.8 percent of homes are renter-occupied with a median rent of $694 per month

Bloomington: 27.6 percent of homes are renter-occupied with a median rent of $700 per month

Urbana: 59.7 percent of homes are renter-occupied with a median rent of $720 per month

Champaign: 46.9 percent of homes are renter-occupied with a median rent of $748 per month

Cicero: 38.8 percent of homes are renter-occupied with a median rent of $778 per month

Many of the cities with a percentage of renters above the state average have universities in town, so there are more students there likely to rent rather than buy their homes. Also, the city of Chicago itself has a median rent above the state average, but it does not have the highest median average of these major cities. Other cities, however, that do have higher median rents tend to be closer to Chicago, such as Naperville and Evanston, rather than cities with lower median rents, such as East St. Louis and Mt. Vernon, which are in southern Illinois.

NEXT ARTICLE: What’s the housing inventory in your county?

  1. Seven things to know when buying a house
  2. Illinois home foreclosures rank third in the nation
  3. Renter’s insurance in Illinois: How can you protect yourself?
  4. 10 Chicago renter’s rights you may not know you have
  5. Want to tell your elected officials what you think about the state of government in Illinois? Use our Sound Off tool. 

Caitlin Wilson is a staff writer for Reboot Illinois. She graduated from Loyola University Chicago, where she studied journalism and political science. Caitlin has become both endeared to and frustrated with her adopted home state and wants to bring Illinoisans the information they need to actively participate in the politics that directly affect them.  You can find Reboot on Facebook here and on Twitter at @rebootillinois.


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