Average Rent in Palatine, IL

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Current Versus Historical Palatine, IL Rents

Palatine rentals average $1,300 for a studio rental to $3,700 for a 4-bedroom rental. The median price of all currently available listings is $2,300, or roughly $21 per square feet.

For the apartment units and housing in October 2026, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $95 (7.90%) year-over-year from $1,205 to $1,300. 1-bedroom rentals prices have increased by $29 (1.93%) year-over-year from $1,508 to $1,538. 2-bedroom rentals prices have increased by $25 (1.20%) year-over-year from $2,075 to $2,100. 3-bedroom rentals prices have increased by $303 (11.25%) year-over-year from $2,697 to $3,000. 4-bedroom rentals prices have increased by $322 (9.52%) year-over-year from $3,378 to $3,700. 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 0.43% this month. 1-bedroom rents have gone up by 1.65% this month. 2-bedroom rents have gone up by 7.69% this month. 3-bedroom rents have gone down by 3.95% this month. 4-bedroom rents have gone up by 15.69% this month.

Beds	Price / Sqft	Oct 2026 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	N/A	$1,300	$1,205 (7.90%)	$19 (6,742.11%)
1 BR	$22.96	$1,538	$1,508 (1.93%)	$1,473 (4.36%)
2 BR	$20.53	$2,100	$2,075 (1.20%)	$1,816 (15.65%)
3 BR	$19.83	$3,000	$2,697 (11.25%)	$2,383 (25.87%)
4+ BR	$17.76	$3,700	$3,378 (9.52%)	$3,954 (-6.42%)

Historical Rents in Palatine, IL

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Palatine

There are a total of 4 cities nearby Palatine. The average rent in Palatine is currently $2,470 per month. Our records show that Streamwood, IL, with an average rent of $2,350, is the most affordable city nearby. In contrast, the most expensive city near Palatine, IL is Arlington Heights, IL. Monthly rents here are on average $2,600 per month.

Let's compare Palatine, IL's rent against other top cities nearby by bedroom size. Typically, rent for studios in Palatine, IL is 1.92% more expensive than other cities nearby. One bedrooms are about 32.57% more affordable. Two bedrooms in Palatine, IL are about 6.55% more affordable. Finally, rent for three bedrooms are about 0.42% more affordable. Want more information? Check out the top 4 cities near Palatine, IL in the following table.

City	Studio	1 Bed	2 Bed	All
Streamwood, IL	$1,350	$1,808	$2,275	$2,350
Schaumburg, IL	N/A	$2,276	$2,300	$2,400
Vernon Hills, IL	$2,074	$2,269	$2,100	$2,540
Arlington Heights, IL	$1,200	$1,700	$2,200	$2,600

Top Neighborhoods Near Palatine

Neighborhood	Studio	1 Bed	2 Bed	All

Top Counties Near Palatine

There are a total of 6 counties located by Palatine, IL. Some of these counties include Palatine, IL, Hanover, IL, and Elk Grove, IL. The average rent for rentals in these counties is $2,488. That's roughly around $23 per sqft. The county that is the most affordable is Palatine, IL. Its average rent per month is $2,344. Vice versa, with an average rent of $3,200, Vernon, IL is the most expensive county by Palatine, IL.

Typically, rent for studios in Palatine, IL is 53.85% more expensive than other counties nearby. In comparison, rent for one bedroom listings in Palatine, IL is 17.07% more affordable than other counties nearby. Finally, rent for two bedrooms in Palatine, IL is 0.60% more affordable than other counties nearby. We've listed all of these counties in the table below.

County	Studio	1 Bed	2 Bed	All
Palatine, IL	$1,300	$2,234	$1,975	$2,344
Hanover, IL	$1,350	$1,740	$2,225	$2,395
Elk Grove, IL	N/A	$1,850	$1,995	$2,475
Wheeling, IL	$1,200	$1,750	$2,025	$2,500
Schaumburg, IL	N/A	$1,550	$2,299	$2,500
Vernon, IL	N/A	$2,150	$2,200	$3,200

Top Zipcodes Near Palatine

There is one zipcode in or near Palatine, IL. The average rent for this zipcode is $2,150. One zipcode has an average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 60016, Des Plaines, IL at $2,150 per month. In comparison, the zipcode with the most expensive average rent of $2,150 per month is 60016, Des Plaines, IL.

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

Zipcode	Studio	1 Bed	2 Bed	All
60016, Des Plaines, IL	N/A	$1,598	$1,995	$2,150

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 $1,300. There are a total of 1 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 $1,538 and an average price per square feet of $22.96. There are a total of 6 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 $2,100 and an average price per square feet of $20.53. There are a total of 28 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 0.08%, one bedroom rental prices have changed by 0.02%, two bedroom rental prices have changed by 0.01%, three bedroom rental prices have changed by 0.11% 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.