At $2,333/mo, rent takes about 26% 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 $2,333 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: August 17, 2026
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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 $2,333/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: August 17, 2026
The median rent in Highwood is $2,333/mo as of August 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 26% 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
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What percentage of Highwood residents rent vs. own?
How does Highwood rent compare to the national average?
At $2,333/mo, rent takes ~26% 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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