NAPERVILLE, IL — Home prices in the United States have risen dramatically in large swaths of the country, but the same can’t be said for all rentals.
While rents for single-family homes have experienced big increases as renters and buyers compete for the same limited quantity of homes on the market, apartment rents haven’t increased as swiftly.
In Naperville, the fair market rent estimate for a one-bedroom rental property in ZIP code 60540 increased from $1,400 in fiscal year 2020 to $1,440 in fiscal year 2021, while a four-bedroom rental increased from $2,450 to $2,530. Fiscal year 2021 runs from October 2020 to the end of September 2021.
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