At $2,418/mo, rent takes about 27% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,418 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 →
12-month history
Last updated: September 25, 2026
What the numbers show
30% of the median household income ($107,875) is $2,697 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,160); a 3-bedroom is $2,770.
From Zillow's monthly rent index (ZORI) for Highwood. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Highwood, IL is majority owner-occupied, has a large retiree population, has a median income above the national average, 39.1% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Highwood, IL has changed in 5 years
Household income in the area moved from $88,913 to $107,875 across the same window, up 21.3% versus 2021. Census counts show Highwood, IL adding about 97 residents over the five-year window, up 1.9% on net. The renter share has eased from 54.9% to 44%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 41.8% to 39.1% across the same window.
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Can you afford rent in Highwood on your salary?
At $2,418/mo, how Highwood rent compares to typical pay (30% rule).
Highwood rent by bedroom count
Median rent for each apartment size in Highwood. Click any size for full breakdown.
Tips for renters in Highwood
Last updated: September 25, 2026
The median rent in Highwood is $2,418/mo as of September 2026. A studio apartment averages $1,790/mo while a 2-bedroom runs $2,160/mo. One-bedroom apartments average $1,910/mo and 3-bedroom units go for $2,770/mo.
At 27% of local median household income ($107,875/yr), Highwood ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.
Frequently asked questions
How much income do you need to rent in Highwood?
Is rent going up or down in Highwood?
How does Highwood rent compare to other cities in Illinois?
Which nearby cities are cheaper to rent in than Highwood?
At $2,418/mo, rent takes ~27% of Highwood's median household income ($107,875/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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