New Chicago, Indiana 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 New Chicago, Indiana rental market.
New Chicago, Indiana
Average Apartment Rent
$1,297
Y-o-Y Change in Average
Apartment Rent
0.4%
As of July 2024
Compared to a year ago, New Chicago, Indiana apartments have recorded a 0.4% rent increase.
New Chicago, Indiana |Average apartment rent trend
New Chicago, Indiana| Average apartment rent
New Chicago, Indiana | Apartment rent ranges
At 76%, apartments priced $1,000 - $1,500 represent the bulk of New Chicago, Indiana rentals, while condos priced $700 - $1000 hold the lowest share of the market – 9.93%.
New Chicago, Indiana | Housing tenure**
Renters take up 29% of New Chicago, Indiana real estate, occupying a total of 217 units, while homeowners live in 526 properties.
Median number of rooms of renter-occupied housing units**
4.5
Renter median household income**
$49,044
Average household size of renter-occupied housing units**
2.8
New Chicago, Indiana | Renter-occupied housing units by no. of bedrooms**
There are 117 rentals in New Chicago, Indiana with 2 beds making up the highest share of the market, at 54%. Units with 1 bed, on the other hand, hold the lowest percentage (3%), amounting to 7 units. Overall, the median number of rooms in New Chicago, Indiana homes for rent is 4.5.
New Chicago, Indiana |Renter-occupied units by age of householder**
Most condos for rent in New Chicago, Indiana are occupied by residents in the 25 - 34 years age group (28%), followed by those in the 35 - 44 years age group (27%). At the same time, people in the 60 - 64 years age group make up the lowest share of the local rental market – 4%.
New Chicago, Indiana | Renter-occupied housing units by family type**
New Chicago, Indiana | Renter-occupied housing units by the presence of own children**
A total of 161 apartments for rent in New Chicago, Indiana, or 74% of all rentals are family households. Additionally, 54% of rental homes include children under the age of 18 – that’s 117 units. All in all, the median size of a renter-occupied household in New Chicago, Indiana is 2.8.
New Chicago, Indiana | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 7% of the rental market. In contrast, residents with less than a high school degree reside in 18% of the homes for rent in New Chicago, Indiana.
New Chicago, Indiana | Renter-occupied units by year structure built**
The highest share of New Chicago, Indiana apartment rentals, namely 32% or 70 units, were Built 1950 - 1959, followed by those Built 1939 or earlier (13%, 28 units), and the ones Built 2010 - 2019 (13%, 28 units).
New Chicago, Indiana | Renter-occupied units by year householder moved in**
Median year renter moved into unit2017
Most New Chicago, Indiana renters (53%) moved in 2010 to 2017, while only 2% of them moved in 2000 to 2009. Overall, the median year renters have occupied their New Chicago, Indiana condos for rent is 2017.
New Chicago, Indiana | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 38% of New Chicago, Indiana renters have 2 vehicles available per household, 34% of them have 1 vehicle available, and 13% have 3 vehicles available.
New Chicago, Indiana | Means of transportation to work of householders living in renter-occupied housing units**
New Chicago, Indiana |Geographical mobility in the past year for householders living in renter-occupied housing units**
New Chicago, Indiana | 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 New Chicago, Indiana 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
