Loves Park, 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 Loves Park, Illinois rental market.
Loves Park, Illinois
Average Apartment Rent
$1,407
As of November 2024
Loves Park, Illinois Average apartment rent trend
Loves Park, Illinois Average Apartment Rent
Loves Park, Illinois Apartment rent ranges
At 67.34%, apartments priced $1,000 - $1,500 represent the bulk of Loves Park, Illinois rentals, while condos priced Over $2,000 hold the lowest share of the market – 4.17%.
Loves Park, Illinois Housing tenure**
Renters take up 37% of Loves Park, Illinois real estate, occupying a total of 3,576 units, while homeowners live in 6,129 properties.
Median number of rooms of renter-occupied housing units**
4.4
Renter median household income**
$47,500
Average household size of renter-occupied housing units**
2.12
Rental vacancy rate**
3.8%
Loves Park, Illinois Renter-occupied housing units by no. of bedrooms**
There are 2,246 rentals in Loves Park, Illinois with 2 beds making up the highest share of the market, at 63%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 36 units. Overall, the median number of rooms in Loves Park, Illinois homes for rent is 4.4.
Loves Park, Illinois Renter-occupied units by age of householder**
Most condos for rent in Loves Park, Illinois are occupied by residents in the 25 - 34 years age group (26%), followed by those in the 35 - 44 years age group (23%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.
Loves Park, Illinois Renter-occupied housing units by family type**
Loves Park, Illinois Renter-occupied housing units by the presence of own children**
A total of 1,717 apartments for rent in Loves Park, Illinois, or 48% of all rentals are family households. Additionally, 28% of rental homes include children under the age of 18 – that’s 997 units. All in all, the median size of a renter-occupied household in Loves Park, Illinois is 2.12.
Loves Park, Illinois Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 26% of the rental market. In contrast, residents with less than a high school degree reside in 8% of the homes for rent in Loves Park, Illinois.
Loves Park, Illinois Renter-occupied units by year structure built**
The highest share of Loves Park, Illinois apartment rentals, namely 23% or 832 units, were Built 1980 - 1989, followed by those Built 1970 - 1979 (14%, 491 units), and the ones Built 1990 - 1999 (14%, 484 units).
Loves Park, Illinois Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most Loves Park, Illinois renters (44%) moved in 2010 to 2017, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Loves Park, Illinois condos for rent is 2017.
Loves Park, Illinois Renter-occupied housing units by vehicles available**
When it comes to transportation options, 46% of Loves Park, Illinois renters have 1 vehicle available per household, 37% of them have 2 vehicles available, and 11% have No vehicle available.
Loves Park, Illinois Means of transportation to work of householders living in renter-occupied housing units**
Loves Park, Illinois Geographical mobility in the past year for householders living in renter-occupied housing units**
Loves Park, 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 Loves Park, 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
