Rents are right about where Palatine's 10-year trend predicts.
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 $1,895 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: October 17, 2026
What the numbers show
December. Asking rents in Palatine usually run 1.1% below trend in December and 1% above it in June, about $40 a month apart at today's median. Based on 11 years of data.
Rent in Palatine is 0.1% below its high of $1,896 in July 2026, at $1,895 as of September 2026.
Rent in Palatine changed +2.2% over the year to September 2026. Across the 94 Illinois cities Zillow tracks, the typical change was +4.0%.
From 2019 to 2024, rent in Palatine rose 36.9% while median household income rose 21.5% ($80,526 to $97,819). Rent outpaced income.
Rent in Palatine is 46.3% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent rose in 7 of the last 12 months.
30% of the median household income ($97,819) is $2,445 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,410); a 4-bedroom is $2,830.
Maywood, 20 miles away, rents for 25% less ($1,419/mo), about $5,700 a year in savings.
From Zillow's monthly rent index (ZORI) for Palatine. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. 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
Palatine, IL is majority owner-occupied, has a median income above the national average, 51.1% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Palatine, IL has changed in 5 years
Across the past five years, the going rent in Palatine, IL has shifted from $1,348 to $1,895, up 40.6% since 2021. Household income in the area moved from $86,415 to $97,819 across the same window, up 13.2% versus 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Palatine, IL losing about 1,461 residents over the five-year window, down 2.2% on net. Reading these numbers side by side helps frame whether current listings in Palatine, IL look reasonable against where the market sat half a decade ago.
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Can you afford rent in Palatine on your salary?
At $1,895/mo, how Palatine rent compares to typical pay (30% rule).
Palatine rent by bedroom count
Median rent for each apartment size in Palatine. Click any size for full breakdown.
Tips for renters in Palatine
Last updated: October 17, 2026
The median rent in Palatine is $1,895/mo as of October 2026. A studio apartment averages $1,550/mo while a 2-bedroom runs $1,875/mo. One-bedroom apartments average $1,660/mo and 3-bedroom units go for $2,410/mo.
At 23% of local median household income ($97,819/yr), Palatine ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.2% over the past year.
Frequently asked questions
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How does Palatine rent compare to other cities in Illinois?
At $1,895/mo, rent takes ~23% of Palatine's median household income ($97,819/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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