Average Rent in Palatine, IL

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Current Versus Historical Palatine, IL Rents

Palatine rentals average $1,450 for a 1-bedroom rental to $4,425 for a 4-bedroom rental. The median price of all currently available listings is $2,300, or roughly $2 per square feet.

For the apartment units and housing in December 2024, median rents have fallenover the last year. Studio rentals prices have increased by $5 (25.22%) year-over-year from $19 to $24. 1-bedroom rentals prices have decreased by $123 (-7.84%) year-over-year from $1,573 to $1,450. 2-bedroom rentals prices have decreased by $50 (-2.44%) year-over-year from $2,050 to $2,000. 3-bedroom rentals prices have increased by $450 (18.37%) year-over-year from $2,450 to $2,900. 4-bedroom rentals prices have decreased by $83 (-2.58%) year-over-year from $3,233 to $3,150. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 0.00% this month. 1-bedroom rents have gone down by 5.68% this month. 2-bedroom rents have gone down by 2.36% this month. 3-bedroom rents have gone up by 9.47% this month. 4-bedroom rents have gone up by 5.88% this month.

Beds	Price / Sqft	Dec 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
1 BR	$1.91	$1,450	$1,573 (-7.84%)	$1,224 (18.45%)
2 BR	$1.84	$2,000	$2,050 (-2.44%)	$1,382 (44.75%)
3 BR	$1.69	$2,900	$2,450 (18.37%)	$2,198 (31.92%)
4+ BR	$2.33	$3,150	$3,233 (-2.58%)	$2,883 (9.25%)

Historical Rents in Palatine, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Palatine

There are a total of 1 cities nearby Palatine. The average rent in Palatine is currently $2,253 per month. Only one city nearby has an average rent lower than that. Our records show that Schaumburg, IL, with an average rent of $2,253, is the most affordable city nearby. In contrast, the most expensive city near Palatine, IL is Schaumburg, IL. Monthly rents here are on average $2,253 per month.

Let's compare Palatine, IL's rent against other top cities nearby by bedroom size. One bedrooms are about 43.31% more affordable. Two bedrooms in Palatine, IL are about 6.67% more affordable. Finally, rent for three bedrooms are about 0.79% more affordable. Want more information? Check out the top 1 cities near Palatine, IL in the following chart.

City	Studio	1 Bed	2 Bed	All
Schaumburg, IL	N/A	$2,078	$2,400	$2,253

Top Neighborhoods Near Palatine

View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near Palatine

The average rent for rentals in these counties is $2,250. That's roughly around $2 per sqft. A total of 1 counties have a lower average rent. The county that is the most affordable is Schaumburg, IL. It's average rent per month is $2,250. Vice versa, with an average rent of $2,250, Schaumburg, IL is the most expensive county by Palatine, IL.

In comparison, rent for one bedroom listings in Palatine, IL is 42.14% more affordable than other counties nearby. Finally, rent for two bedrooms in Palatine, IL is 2.22% more expensive than other counties nearby. We've listed all of these counties in the chart below.

County	Studio	1 Bed	2 Bed	All
Schaumburg, IL	N/A	$2,061	$2,200	$2,250

Top Zipcodes Near Palatine

You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All

Frequently Asked Questions - Palatine Average Rents

What is the average rent price in Palatine, IL?

The average monthly rental price for Palatine, IL apartments for rent is approximately $2,300. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Palatine, IL rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Palatine, IL.

How much is a studio apartment in Palatine, IL?

The average monthly rental price for studio apartments is $0 and an average price per square feet of $0.00. There are a total of 0 studio apartment listings currently available for rent in Palatine.

How much is a one bedroom apartment in Palatine, IL?

The average monthly rental price for one bedroom apartments is $1,450 and an average price per square feet of $1.91. There are a total of 3 one bedroom apartment listings currently available for rent in Palatine.

How much is a two bedroom apartment in Palatine, IL?

The average monthly rental price for two bedroom apartments is $2,250 and an average price per square feet of $1.84. There are a total of 8 two bedroom apartment listings currently available for rent in Palatine.

How have rent prices in Palatine, IL changed this year?

Rent prices for rentals in Palatine, IL can fluctuate yearly. Specifically, studio rental prices have changed by 0.25%, one bedroom rental prices have changed by -0.08%, two bedroom rental prices have changed by -0.02%, and three bedroom rental prices have changed by 0.18% year-over-year.

What is a reasonable rent price in Palatine, IL?

A reasonable rent price in Palatine, IL is around $1,840/month. You can search for these reasonably priced rental listings on RentHop.