Disclaimer: Covid-19 may have impacted rent prices in a way that is not yet reflected in our reports. When referencing the data published on this page, please keep in mind that the data provided here may not accurately depict the current reality of the market.
Elgin, IL Rental Market Trends
What is the average rent in Elgin?
The average rent for an apartment in Elgin is $1,282, a 12% increase compared to the previous year, when the average rent was $1,147.
Average Rent in Elgin, IL
Last updated June 2021
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,282 | 12% | 874 sq. ft. |
What is the average apartment size in Elgin?
The average size for a Elgin, IL apartment is 874 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Elgin, IL Apartment Rent Ranges
- $701-$1,00015%
- $1,001-$1,50070%
- $1,501-$2,00012%
- > $2,0004%
Elgin, IL Occupied Housing Units
- Renter-occupied Households28%
- Owner-occupied Households71%
10,361 or 28% of the households in Elgin, IL are renter-occupied while 26,542 or 71% are owner-occupied.
Elgin, IL Rent Trends
| Average Rent | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Mar / 2020 | Jul / 2020 | Nov / 2020 | Jun / 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
| Elgin, IL | $1,049 | $1,049 | $1,064 | $1,080 | $1,121 | $1,102 | $1,147 | $1,248 | $1,196 | $1,282 |
| National | $1,314 | $1,345 | $1,354 | $1,358 | $1,390 | $1,397 | $1,400 | $1,392 | $1,396 | $1,407 |
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How Elgin Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Chicago | $1,908 | -4% |
| Oak Park | $1,859 | -4% |
| Evanston | $1,936 | n/a |
| Naperville | $1,589 | 6% |
| Aurora | $1,394 | 6% |
| Arlington Heights | $1,414 | -2% |
| Kenosha | $1,100 | 5% |
| Elgin | $1,282 | 12% |
| Lombard | $1,537 | 2% |
| Schaumburg | $1,405 | n/a |
| Forest Park | $985 | -4% |
Most Popular Apartments in Elgin
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Elgin apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.