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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.

Palatine, IL Rental Market Trends

Highlights

The average rent for an apartment in Palatine is $1,322, a 4% increase compared to the previous year, when the average rent was $1,274.

Average Rent in Palatine, IL

Last updated February 2020
Average Rent Y-o-Y Change Average Apartment Size
$1,322 4% 999 sq. ft.

The average size for a Palatine, IL apartment is 999 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.

Palatine, IL Apartment Rent Ranges

  • $1,001-$1,50071%
  • $1,501-$2,00029%
  • > $2,0001%

Palatine, IL Occupied Housing Units

  • Renter-occupied Households35%
  • Owner-occupied Households64%

9,603 or 35% of the households in Palatine, IL are renter-occupied while 17,278 or 64% are owner-occupied.

Palatine, IL Rent Trends

Average Rent Mar / 2017 Jul / 2017 Nov / 2017 Mar / 2018 Jul / 2018 Nov / 2018 Mar / 2019 Jul / 2019 Nov / 2019 Feb / 2020
Palatine, IL $1,246 $1,268 $1,239 $1,238 $1,238 $1,306 $1,274 $1,365 $1,358 $1,322
National $1,337 $1,368 $1,371 $1,374 $1,408 $1,417 $1,422 $1,458 $1,466 $1,468
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How Palatine Compares to Other Cities

Average Rent Y-o-Y Change
Chicago $1,943 2%
Oak Park $1,943 6%
Evanston $1,945 1%
Aurora $1,329 2%
Naperville $1,501 5%
Kenosha $1,050 3%
Arlington Heights $1,440 -1%
Schaumburg $1,410 2%
Des Plaines $1,477 15%
Mount Prospect $1,261 5%
Palatine $1,322 4%

For more information about the Palatine rental trends, check out our monthly rent report

Check out Illinois Cities, Illinois Neighborhoods and Illinois Zip Codes for more details on verified listings, including the Illinois Average Rent.

Curious about listings in your area? Check out our apartments near you for more details!

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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 Palatine 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.