Elgin, IL Rental Market Trends
Highlights
The average rent for an apartment in Elgin is $1,080, a 3% increase compared to the previous year, when the average rent was $1,049.
Average Rent in Elgin, IL
Last updated Jul 2019
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,080 | 3% | 861 sq. ft. |
The average size for a Elgin, IL apartment is 861 square feet, but this number varies greatly depending on apartment type. 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
- $501-$7001%
- $701-$1,00030%
- $1,001-$1,50065%
- $1,501-$2,0004%
Elgin, IL Rent Trends
| Average Rent | Jan / 2016 | May / 2016 | Sept / 2016 | Jan / 2017 | May / 2017 | Sept / 2017 | Jan / 2018 | May / 2018 | Sept / 2018 | Jul / 2019 |
|---|---|---|---|---|---|---|---|---|---|---|
| Elgin, IL | $996 | $1,002 | $1,029 | $1,016 | $1,064 | $1,077 | $1,049 | $1,049 | $1,064 | $1,080 |
| National | $1,313 | $1,342 | $1,344 | $1,348 | $1,377 | $1,378 | $1,386 | $1,420 | $1,425 | $1,432 |
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How Does Elgin Compare to Nearby Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Aurora | $1,307 | 3% |
| Carpentersville | $955 | 7% |
| Elgin | $1,080 | 3% |
| Saint Charles | $1,393 | 9% |
| Dundee | $1,569 | 4% |
| Geneva | $1,455 | 8% |
| Huntley | $1,045 | 8% |
| Montgomery | $1,010 | 1% |
For more information about the Elgin rental trends, check out our monthly rent report
Cheapest Listings on RENTCafé
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.