Average Rent in Elgin, IL

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Current Versus Historical Elgin, IL Rents

Elgin rentals average $1,448 for a studio rental to $3,975 for a 4-bedroom rental. The median price of all currently available listings is $2,000, or roughly $24 per square feet.

For the apartment units and housing in October 2026, median rents have risen substantially over the last year. Studio rentals prices have increased by $276 (24.65%) year-over-year from $1,119 to $1,395. 1-bedroom rentals prices have increased by $158 (11.62%) year-over-year from $1,355 to $1,513. 2-bedroom rentals prices have increased by $346 (19.30%) year-over-year from $1,792 to $2,138. 3-bedroom rentals prices have decreased by $148 (-5.60%) year-over-year from $2,648 to $2,500. 4-bedroom rentals prices have increased by $592 (17.49%) year-over-year from $3,383 to $3,975. 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 up by 1.70% this month. 1-bedroom rents have gone up by 6.45% this month. 2-bedroom rents have gone up by 15.91% this month. 3-bedroom rents have gone down by 5.06% this month. 4-bedroom rents have gone up by 8.66% this month.

Beds	Price / Sqft	Oct 2026 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$35.74	$1,395	$1,119 (24.65%)	$13 (10,630.77%)
1 BR	$30.53	$1,513	$1,355 (11.62%)	$1,048 (44.28%)
2 BR	$22.47	$2,138	$1,792 (19.30%)	$1,657 (29.02%)
3 BR	$20.63	$2,500	$2,648 (-5.60%)	$2,141 (16.78%)
4+ BR	$14.62	$3,975	$3,383 (17.49%)	$3,400 (16.91%)

Historical Rents in Elgin, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Elgin

There are a total of 5 cities nearby Elgin. The average rent in Elgin is currently $2,425 per month. Our records show that Palatine, IL, with an average rent of $2,200, is the most affordable city nearby. In contrast, the most expensive city near Elgin, IL is Vernon Hills, IL. Monthly rents here are on average $2,565 per month.

Let's compare Elgin, IL's rent against other top cities nearby by bedroom size. Typically, rent for studios in Elgin, IL is 10.19% more expensive than other cities nearby. One bedrooms are about 18.64% more affordable. Two bedrooms in Elgin, IL are about 11.54% more affordable. Finally, rent for three bedrooms are about 20.00% more affordable. Want more information? Check out the top 5 cities near Elgin, IL in the following table.

City	Studio	1 Bed	2 Bed	All
Palatine, IL	$1,300	$1,500	$1,950	$2,200
Wheaton, IL	$1,475	$1,723	$2,299	$2,299
Schaumburg, IL	N/A	$2,182	$2,300	$2,425
Arlington Heights, IL	$1,200	$1,750	$2,150	$2,500
Vernon Hills, IL	$2,004	$2,229	$2,175	$2,565

Top Neighborhoods Near Elgin

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near Elgin

There are a total of 10 counties located by Elgin, IL. Some of these counties include Elgin, IL, Bloomingdale, IL, and Palatine, IL. The average rent for rentals in these counties is $2,463. That's roughly around $23 per sqft. The county that is the most affordable is Elgin, IL. Its average rent per month is $2,063. Vice versa, with an average rent of $3,200, Vernon, IL is the most expensive county by Elgin, IL.

In comparison, rent for one bedroom listings in Elgin, IL is 18.10% more affordable than other counties nearby. Finally, rent for two bedrooms in Elgin, IL is 8.97% more affordable than other counties nearby. We've listed all of these counties in the table below.

County	Studio	1 Bed	2 Bed	All
Elgin, IL	$1,448	$1,500	$1,900	$2,063
Bloomingdale, IL	N/A	$1,550	$1,875	$2,150
Palatine, IL	$1,300	$2,172	$1,950	$2,236
Milton, IL	$1,475	$1,729	$2,299	$2,299
York, IL	N/A	$1,800	$2,050	$2,425
Hanover, IL	N/A	$1,755	$2,300	$2,500
Schaumburg, IL	N/A	$1,600	$2,250	$2,500
Elk Grove, IL	N/A	$1,825	$2,200	$2,500
Wheeling, IL	$1,200	$1,780	$2,000	$2,500
Vernon, IL	N/A	$1,475	$2,250	$3,200

Top Zipcodes Near Elgin

There is one zipcode in or near Elgin, IL. The average rent for this zipcode is $2,237.

The following table includes the zipcode in or near Elgin, IL. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
60189, Wheaton, IL	N/A	$1,723	$2,299	$2,237

Frequently Asked Questions - Elgin Average Rents

What is the average rent price in Elgin, IL?

The average monthly rental price for Elgin, IL apartments for rent is approximately $2,000. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Elgin, 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 Elgin, IL.

How much is a studio apartment in Elgin, IL?

The average monthly rental price for studio apartments is $1,448 and an average price per square feet of $35.74. There are a total of 2 studio apartment listings currently available for rent in Elgin.

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

The average monthly rental price for one bedroom apartments is $1,475 and an average price per square feet of $30.53. There are a total of 16 one bedroom apartment listings currently available for rent in Elgin.

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

The average monthly rental price for two bedroom apartments is $1,950 and an average price per square feet of $22.47. There are a total of 14 two bedroom apartment listings currently available for rent in Elgin.

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

Rent prices for rentals in Elgin, IL can fluctuate yearly. Specifically, studio rental prices have changed by 0.25%, one bedroom rental prices have changed by 0.12%, two bedroom rental prices have changed by 0.19%, three bedroom rental prices have changed by -0.06% year-over-year.

What is a reasonable rent price in Elgin, IL?

A reasonable rent price in Elgin, IL is around $1,600/month. You can search for these reasonably priced rental listings on RentHop.