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City Report · IL

Elk Grove Village

Pop. 31,987·80th most expensive in Illinois·Elk Grove Village rents are up 5.5% over the past year
Median rent (all units)
$1,758/mo
Year-over-Year
+5.5%
Month-over-Month
-1.3%
vs US Median
-$204
Falling (Monthly)
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Most AffordableMost Expensive
Elk Grove Village · $1,758
More affordable than 56% of US cities · National median $1,962/mo
Rent Reality Score
50/100
Fairly priced
OverheatedFairGreat value

Rents are right about where Elk Grove Village's 10-year trend predicts.

Actual rent
$1,758/mo
Expected by trend
$1,755/mo
The Rent Reality Score compares today's median rent to where Elk Grove Village's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$1,620
1 BR
$1,740
2 BR
$1,960
3 BR
$2,520
4 BR+
$2,960
Fair Market Rent (HUD)
$1,960/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,758 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$21,096/yr
At $1,758/mo median
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (5.5% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+5.5% YoY, -1.3% MoM), not inventory.
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Demographics

Who lives here

Elk Grove Village, IL is majority owner-occupied, has a large retiree population, has a median income above the national average, 41.2% of residents hold a bachelor's degree or higher.

Population
31,987
Median income
$94,175
Median age
44.8
Renters
25.3%
Age distribution
21.5%
15.1%
27.9%
15.5%
20.1%
Under 1821.5%
18–3415.1%
35–5427.9%
55–6415.5%
65+20.1%
Gender
49.3%
50.7%
Male49.3%
Female50.7%
Race & ethnicity
70.2%
14.9%
12.1%
White70.2%
Black3%
Hispanic14.9%
Asian12.1%
Education (25+)
24.7%
26.6%
41.2%
No HS diploma7.5%
HS diploma24.7%
Some college26.6%
Bachelor's+41.2%
Housing tenure
74.7%
25.3%
Owner74.7%
Renter25.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2023 vs 2026

How Elk Grove Village, IL has changed in 5 years

Rent
$1,611 → $1,758
up 9.1%
Income
$89,187 → $94,175
up 5.6%
Population
32,763 → 31,987
down 2.4%
Renter share
25.3% → 25.3%
+0.0 pts
Bachelor's+
39.8% → 41.2%
+1.4 pts
Median age
41.8 → 44.8
+3.0 yrs

Five years ago, renters in Elk Grove Village, IL paid around $1,611 a month. That figure now sits near $1,758, up 9.1% from the 2023 baseline. Census figures show median household income at $94,175 today, compared with $89,187 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Elk Grove Village, IL losing about 776 residents over the five-year window, down 2.4% on net. The combined trend lines point to a market that has changed measurably from where it stood in early 2023.

Community

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View Elk Grove Village rent history (2015–2026) →
Salary vs rent

Can you afford rent in Elk Grove Village on your salary?

At $1,758/mo, how Elk Grove Village rent compares to typical pay (30% rule).

By apartment size

Elk Grove Village rent by bedroom count

Median rent for each apartment size in Elk Grove Village. Click any size for full breakdown.

Local insights

Tips for renters in Elk Grove Village

About renting in Elk Grove Village, IL

Last updated: August 17, 2026

The median rent in Elk Grove Village is $1,758/mo as of August 2026. A studio apartment averages $1,620/mo while a 2-bedroom runs $1,960/mo. One-bedroom apartments average $1,740/mo and 3-bedroom units go for $2,520/mo.

At 22% of local median household income ($94,175/yr), Elk Grove Village ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.5% over the past year.

FAQ

Frequently asked questions

Is Elk Grove Village an affordable city for renters?

Elk Grove Village is considered very affordable for renters. At $1,758/mo, rent takes approximately 22% of the local median household income ($94,175/yr). The standard benchmark is 30%. Elk Grove Village falls comfortably within that range.

How much income do you need to rent in Elk Grove Village?

To keep rent at or below 30% of gross income, you would need to earn at least $70,000/year (~$34/hour full-time) to afford the median rent of $1,758/mo in Elk Grove Village. The local median household income is $94,175/yr, meaning the typical Elk Grove Village household meets that threshold.

Is rent going up or down in Elk Grove Village?

Rent in Elk Grove Village has increased 5.5% over the past year as of August 2026, putting upward pressure on renter budgets.

How does Elk Grove Village rent compare to other cities in Illinois?

Elk Grove Village is middle-of-the-pack for Illinois for rent, ranking #80 out of 142 tracked cities at $1,758/mo.

What percentage of Elk Grove Village residents rent vs. own?

According to Census data, approximately 25.3% of Elk Grove Village households are renters, while 74.7% are owner-occupied. Elk Grove Village leans toward homeownership, which can mean a smaller rental inventory.

How does Elk Grove Village rent compare to the national average?

Elk Grove Village's median rent of $1,758/mo is $204 (10%) below the US national median of $1,962/mo. Within Illinois, it ranks #80 out of 142 tracked cities.
Income Affordability
22%
VERY AFFORDABLE

At $1,758/mo, rent takes ~22% of Elk Grove Village's median household income ($94,175/yr). The standard benchmark is 30%.

Elk Grove Village 22%Benchmark 30%
State income tax4.95%
Run the Elk Grove Village affordability calculator →
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Neighborhoods

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Public schools near Elk Grove Village, IL

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