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City Report · IL

Mahomet

Pop. 10,049·67th most expensive in Illinois·Rental market data updated monthly for Mahomet, IL
Median rent (all units)
$1,906/mo
Year-over-Year
Stable
Month-over-Month
-6.0%
vs US Median
-$59
Falling (Monthly)
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Most AffordableMost Expensive
Mahomet · $1,906
More expensive than 53% of US cities · National median $1,965/mo
Affordability
19% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $1,906/mo, rent takes about 19% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$76,000/yr
Local median income
$118,586/yr
Based on the 30%-of-income rule using Mahomet's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,080
1 BR
$1,090
2 BR
$1,290
3 BR
$1,680
4 BR+
$1,710
Research median
$1,290/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: June 22, 2026

Annual cost
$22,872/yr
At $1,906/mo median
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 0.0% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (+0.0% YoY, -6.0% MoM), not inventory.
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Demographics

Who lives here

Mahomet, IL is majority owner-occupied, has a large share of families with children, has a median income above the national average, 54.2% of residents hold a bachelor's degree or higher.

Population
10,049
Median income
$118,586
Median age
37.7
Renters
20.5%
Age distribution
31.6%
14.7%
29%
12.6%
12%
Under 1831.6%
18–3414.7%
35–5429%
55–6412.6%
65+12%
Gender
45.8%
54.2%
Male45.8%
Female54.2%
Race & ethnicity
82.7%
White82.7%
Hispanic7.5%
Asian5.8%
Other3.6%
Education (25+)
16.6%
25.2%
54.2%
No HS diploma4%
HS diploma16.6%
Some college25.2%
Bachelor's+54.2%
Housing tenure
79.5%
20.5%
Owner79.5%
Renter20.5%

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

2021 vs 2026

How Mahomet, IL has changed in 5 years

Income
$122,386 → $118,586
down 3.1%
Population
9,297 → 10,049
up 8.1%
Renter share
13.7% → 20.5%
+6.8 pts
Bachelor's+
48.4% → 54.2%
+5.8 pts
Median age
37.1 → 37.7
+0.6 yrs

Local incomes tracked alongside that move, going from a median of $122,386 in 2021 to $118,586 more recently. Census counts show Mahomet, IL adding about 752 residents over the five-year window, up 8.1% on net. The renter share has risen from 13.7% to 20.5%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 48.4% to 54.2% across the same window.

Community

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View Mahomet rent history (2015–2026) →
Salary vs rent

Can you afford rent in Mahomet on your salary?

At $1,906/mo, how Mahomet rent compares to typical pay (30% rule).

By apartment size

Mahomet rent by bedroom count

Median rent for each apartment size in Mahomet. Click any size for full breakdown.

Local insights

Tips for renters in Mahomet

About renting in Mahomet, IL

Last updated: June 22, 2026

The median rent in Mahomet is $1,906/mo as of June 2026. A studio apartment averages $1,080/mo while a 2-bedroom runs $1,290/mo. One-bedroom apartments average $1,090/mo and 3-bedroom units go for $1,680/mo.

At 19% of local median household income ($118,586/yr), Mahomet ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Mahomet an affordable city for renters?

Mahomet is considered very affordable for renters. At $1,906/mo, rent takes approximately 19% of the local median household income ($118,586/yr). The standard benchmark is 30%. Mahomet falls comfortably within that range.

How much income do you need to rent in Mahomet?

To keep rent at or below 30% of gross income, you would need to earn at least $76,000/year (~$37/hour full-time) to afford the median rent of $1,906/mo in Mahomet. The local median household income is $118,586/yr, meaning the typical Mahomet household meets that threshold.

Is rent going up or down in Mahomet?

Rent in Mahomet has been relatively stable over the past year, with a 0.0% change year over year as of June 2026.

How does Mahomet rent compare to other cities in Illinois?

Mahomet is middle-of-the-pack for Illinois for rent, ranking #67 out of 140 tracked cities at $1,906/mo.

Which nearby cities are cheaper to rent in than Mahomet?

Several nearby cities have lower median rents than Mahomet ($1,906/mo): Rantoul ($808/mo), Urbana ($1,249/mo), Bloomington ($1,368/mo).

What percentage of Mahomet residents rent vs. own?

According to Census data, approximately 20.5% of Mahomet households are renters, while 79.5% are owner-occupied. Mahomet leans toward homeownership, which can mean a smaller rental inventory.

How does Mahomet rent compare to the national average?

Mahomet's median rent of $1,906/mo is $59 (3%) below the US national median of $1,965/mo. Within Illinois, it ranks #67 out of 140 tracked cities.
Income Affordability
19%
VERY AFFORDABLE

At $1,906/mo, rent takes ~19% of Mahomet's median household income ($118,586/yr). The standard benchmark is 30%.

Mahomet 19%Benchmark 30%
State income tax4.95%
Run the Mahomet affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Mahomet, IL

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