Rental market snapshot for Gresham, Chicago
Gresham rental market summary
The rental market in Gresham, Illinois is showing signs of growth. In July of 2023, there were 308 new listings, a significant increase from the previous month. The median rent in July 2023 was $1,150, a 17.7% increase from the previous month. This indicates that the rental market in Gresham is becoming more competitive and that demand for rental properties is increasing.
The median rent in July 2023 was the same as the median rent in July 2022, indicating that the rental market in Gresham has remained relatively stable over the past year. This suggests that the rental market in Gresham is not experiencing any drastic changes, and that the market is likely to remain steady in the near future.
Median rent for all residential properties in Gresham
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The most expensive listings and top trending buildings in Gresham
Most Expensive Listings
| Address | Rent Price | Bed / Bath |
|---|---|---|
| 8250 S Ada St | $2,500 | 5 / 2.0 |
| 8617 S Lowe Ave | $2,300 | 5 / 2.0 |
| 8622 South Justine Street | $2,055 | 3 / 2.0 |
| 7701 S Wolcott Ave | $2,000 | 5 / 2.0 |
| 1215 W 81st St | $1,816 | 3 / 1.0 |
Top Trending Buildings
| building name | avg rent price |
|---|---|
| Five T Management Inc. | $1,250 |
| Paragon Property Management | $933 |
| Pangea Real Estate | $861 |
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Bedroom Breakdown in Gresham
Gresham neighborhood apartments rents
The rental market for studios in Gresham, Illinois is relatively stable. In July 2023, there were two new studio listings, and the median rent for studios remained virtually unchanged from June 2023, increasing by only .3%. This indicates that the rental market for studios in Gresham is not experiencing any significant changes in terms of pricing or availability.
The rental market for 1-bedroom apartments in Gresham, Illinois is showing signs of growth. In July 2023, there were 9 new 1-bedroom listings, indicating an increase in demand for rental units. The median rent for 1-bedroom apartments in July 2023 was $900, a decrease of 2.2% from the median rent in June 2023 of $920. This suggests that the rental market is becoming more competitive, with landlords offering lower prices to attract tenants. Overall, the rental market for 1-bedroom apartments in Gresham, Illinois appears to be on the rise.
The rental market for 2-bedroom apartments in Gresham, Illinois is showing signs of stability. In July 2023, there were 20 new 2-bedroom listings, and the median rent for 2-bedroom apartments remained relatively unchanged from June 2023, increasing by only 1.0%. This suggests that the rental market for 2-bedroom apartments in Gresham is stable and that renters can expect to find a variety of options at a reasonable price.