Aurora, Illinois Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Aurora, Illinois rental market.
Aurora, Illinois
Average Apartment Rent
$1,821
Y-o-Y Change in Average
Apartment Rent
8.6%
As of July 2024
Compared to a year ago, Aurora, Illinois apartments have recorded a 8.6% rent increase.
Aurora, Illinois Average apartment rent trend
Aurora, Illinois Average Apartment Rent
Aurora, Illinois Apartment rent ranges
At 44.3%, apartments priced $1,500 - $2,000 represent the bulk of Aurora, Illinois rentals, while condos priced $700 - $1000 hold the lowest share of the market – 5.86%.
Aurora, Illinois Housing tenure**
Renters take up 33% of Aurora, Illinois real estate, occupying a total of 20,090 units, while homeowners live in 40,402 properties.
Median number of rooms of renter-occupied housing units**
4.4
Renter median household income**
$58,608
Average household size of renter-occupied housing units**
2.83
Rental vacancy rate**
4.4%
Aurora, Illinois Renter-occupied housing units by no. of bedrooms**
There are 7,911 rentals in Aurora, Illinois with 2 beds making up the highest share of the market, at 39%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 272 units. Overall, the median number of rooms in Aurora, Illinois homes for rent is 4.4.
Aurora, Illinois Renter-occupied units by age of householder**
Most condos for rent in Aurora, Illinois are occupied by residents in the 25 - 34 years age group (26%), followed by those in the 35 - 44 years age group (24%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Aurora, Illinois Renter-occupied housing units by family type**
Aurora, Illinois Renter-occupied housing units by the presence of own children**
A total of 12,719 apartments for rent in Aurora, Illinois, or 63% of all rentals are family households. Additionally, 43% of rental homes include children under the age of 18 – that’s 8,733 units. All in all, the median size of a renter-occupied household in Aurora, Illinois is 2.83.
Aurora, Illinois Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 23% of the rental market. In contrast, residents with less than a high school degree reside in 21% of the homes for rent in Aurora, Illinois.
Aurora, Illinois Renter-occupied units by year structure built**
The highest share of Aurora, Illinois apartment rentals, namely 18% or 3,628 units, were Built 1990 - 1999, followed by those Built 1939 or earlier (17%, 3,387 units), and the ones Built 1970 - 1979 (15%, 3,105 units).
Aurora, Illinois Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Aurora, Illinois renters (41%) moved in 2010 to 2017, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Aurora, Illinois condos for rent is 2018.
Aurora, Illinois Renter-occupied housing units by vehicles available**
When it comes to transportation options, 40% of Aurora, Illinois renters have 1 vehicle available per household, 36% of them have 2 vehicles available, and 11% have No vehicle available.
Aurora, Illinois Means of transportation to work of householders living in renter-occupied housing units**
Aurora, Illinois Geographical mobility in the past year for householders living in renter-occupied housing units**
Aurora, Illinois Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Aurora, Illinois apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
