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February 2019 Lisle Rent Report

Welcome to the February 2019 Lisle Rent Report. Lisle rents declined over the past month. In this report, we'll evaluate trends in the Lisle rental market, including comparisons to cities throughout the metro, state, and nation.

View full Rent Report

February 2019 Lisle Rent Report

Welcome to the February 2019 Lisle Rent Report. Lisle rents declined over the past month. In this report, we'll evaluate trends in the Lisle rental market, including comparisons to cities throughout the metro, state, and nation.

Lisle rents decline sharply over the past month

Lisle rents have declined 0.8% over the past month, but are up slightly by 1.8% in comparison to the same time last year. Currently, median rents in Lisle stand at $1,200 for a one-bedroom apartment and $1,420 for a two-bedroom. Lisle's year-over-year rent growth leads the state average of -0.1%, as well as the national average of 1.0%.

    Rents rising across the Chicago Metro

    Throughout the past year, rent increases have been occurring not just in the city of Lisle, but across the entire metro. Of the largest 10 cities that we have data for in the Chicago metro, 7 of them have seen prices rise. Here's a look at how rents compare across some of the largest cities in the metro.

    • Joliet has the least expensive rents in the Chicago metro, with a two-bedroom median of $1,120; the city has also seen rents fall by 7.7% over the past year, the biggest drop in the metro.
    • Schaumburg has seen the fastest rent growth in the metro, with a year-over-year increase of 4.4%. The median two-bedroom there costs $1,660, while one-bedrooms go for $1,410.
    • Naperville has the most expensive rents of the largest cities in the Chicago metro, with a two-bedroom median of $1,760; rents decreased 0.5% over the past month but were up 1.2% over the past year.

    Many large cities nationwide show more affordable rents compared to Lisle

    As rents have increased slightly in Lisle, a few large cities nationwide have seen rents grow more quickly. Compared to most large cities across the country, Lisle is less affordable for renters.

    • Rents increased in other cities across the state, with Illinois as a whole logging rent growth of -0.1% over the past year. For example, rents have grown by 0.4% in Peoria.
    • Lisle's median two-bedroom rent of $1,420 is above the national average of $1,170. Nationwide, rents have grown by 1.0% over the past year compared to the 1.8% rise in Lisle.
    • While Lisle's rents rose slightly over the past year, the city of Baltimore saw a decrease of 0.7%.
    • Renters will generally find more expensive prices in Lisle than most large cities. For example, Peoria has a median 2BR rent of $800, where Lisle is more than one-and-a-half times that price.

    For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

    City
    Median 1BR price
    Median 2BR price
    M/M price change
    Y/Y price change
    Chicago
    $1,080
    $1,270
    -0.2%
    0.9%
    Aurora
    $1,120
    $1,320
    0.1%
    1.4%
    Joliet
    $950
    $1,120
    -0.2%
    -7.7%
    Naperville
    $1,490
    $1,760
    -0.5%
    1.2%
    Elgin
    $990
    $1,160
    -0.2%
    -1.9%
    Arlington Heights
    $1,250
    $1,470
    -0.5%
    2%
    Evanston
    $1,300
    $1,520
    -0.5%
    2.1%
    Schaumburg
    $1,410
    $1,660
    -0.4%
    4.4%
    Palatine
    $1,160
    $1,370
    -0.3%
    3.7%
    Des Plaines
    $980
    $1,150
    0
    -6%
    Wheaton
    $1,220
    $1,430
    0.4%
    0.2%
    Hoffman Estates
    $1,110
    $1,300
    1.2%
    0.2%
    Oak Park
    $830
    $980
    0.9%
    -10.1%
    Lombard
    $1,370
    $1,610
    -0.7%
    7.5%
    Crystal Lake
    $1,220
    $1,430
    -0.3%
    -2.1%
    Carol Stream
    $1,140
    $1,340
    -0.3%
    2.7%
    Wheeling
    $1,140
    $1,340
    0.5%
    -2%
    Calumet City
    $870
    $1,020
    0
    -2.8%
    Glendale Heights
    $1,130
    $1,330
    0.6%
    -1.9%
    St. Charles
    $1,250
    $1,470
    -1.1%
    -9.2%
    Woodridge
    $1,200
    $1,410
    0.1%
    1.7%
    Woodstock
    $970
    $1,140
    -0.3%
    -1.4%
    Westmont
    $1,250
    $1,470
    -0.8%
    3.5%
    Lisle
    $1,200
    $1,420
    -0.8%
    1.8%
    Park Forest
    $980
    $1,150
    0
    0.2%
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    Methodology - Recent Updates:

    Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

    Read more about our new methodology below, or see a more detailed post here.

    Methodology:

    Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

    Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

    Read more about our methodology here.

    About Rent Reports:

    Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

    We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.