How much does it cost to rent in Palatine, IL?

As of July 2026, the median monthly rent in Palatine, IL is $1,990. This figure is based on aggregated data from public sources and community-submitted rents.

Is Palatine cheaper than other Illinois cities?

Palatine falls in the middle range for Illinois, ranking #64 out of 142 cities at $1,990/mo.

When was Palatine rent data last updated?

Palatine rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

City Report · IL

Palatine

Name: Average Rent Prices in Palatine, IL
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 66,293·64th most expensive in Illinois·Rental market data updated monthly for Palatine, IL

Median rent (all units)

$1,990/mo

Year-over-Year

+4.1%

Month-over-Month

-2.4%

vs US Median

+$25

Falling (Monthly)

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Most AffordableMost Expensive

Palatine · $1,990

More expensive than 58% of US cities · National median $1,965/mo

Rent Reality Score

45/100

Fairly priced

OverheatedFairGreat value

Rents are 2% above what Palatine's 10-year trend predicts — running hotter than its own history.

Actual rent

$1,990/mo

Expected by trend

$1,943/mo

The Rent Reality Score compares today's median rent to where Palatine's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$1,550

1 BR

$1,660

2 BR

$1,875

3 BR

$2,410

4 BR+

$2,830

Research median

$1,875/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: July 20, 2026

Annual cost

$23,880/yr

At $1,990/mo median

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+4.1% YoY, -2.4% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

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.

Population

66,293

Median income

$97,819

Median age

40.7

Renters

32.6%

Age distribution

20.9%

22.1%

26.1%

14%

16.9%

Under 1820.9%

18–3422.1%

35–5426.1%

55–6414%

65+16.9%

Gender

48.4%

51.6%

Male48.4%

Female51.6%

Race & ethnicity

63.1%

19.2%

12.7%

White63.1%

Black4.6%

Hispanic19.2%

Asian12.7%

Other0.5%

Education (25+)

16.7%

24%

51.1%

No HS diploma8.2%

HS diploma16.7%

Some college24%

Bachelor's+51.1%

Housing tenure

67.4%

32.6%

Owner67.4%

Renter32.6%

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

2021 vs 2026

How Palatine, IL has changed in 5 years

Rent

$1,457 → $1,990

up 36.6%

Income

$86,415 → $97,819

up 13.2%

Population

67,754 → 66,293

down 2.2%

Renter share

32.8% → 32.6%

-0.2 pts

Bachelor's+

50.2% → 51.1%

+0.9 pts

Median age

38.2 → 40.7

+2.5 yrs

Across the past five years, the going rent in Palatine, IL has shifted from $1,457 to $1,990, up 36.6% 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.

Community

Discussions about Palatine

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View Palatine rent history (2015–2026) →

Salary vs rent

Can you afford rent in Palatine on your salary?

At $1,990/mo, how Palatine rent compares to typical pay (30% rule).

Registered Nurse

Avg $96,370/yr · Rent = 24.8% income

affordable

Elementary School Teacher

Avg $68,422/yr · Rent = 34.9% income

stretched

Police Officer

Avg $78,815/yr · Rent = 30.3% income

stretched

Software Developer

Avg $140,872/yr · Rent = 17% income

very comfortable

Lawyer

Avg $179,999/yr · Rent = 13.3% income

very comfortable

Firefighter

Avg $64,066/yr · Rent = 37.3% income

stretched

Truck Driver

Avg $57,844/yr · Rent = 41.3% income

rent-burdened

Electrician

Avg $71,298/yr · Rent = 33.5% income

stretched

By apartment size

Palatine rent by bedroom count

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

Local insights

Tips for renters in Palatine

About renting in Palatine, IL

Last updated: July 20, 2026

The median rent in Palatine is $1,990/mo as of July 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 24% of local median household income ($97,819/yr), Palatine ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.1% over the past year.

FAQ

Frequently asked questions

Is Palatine an affordable city for renters?

Palatine is considered very affordable for renters. At $1,990/mo, rent takes approximately 24% of the local median household income ($97,819/yr). The standard benchmark is 30%. Palatine falls comfortably within that range.

How much income do you need to rent in Palatine?

To keep rent at or below 30% of gross income, you would need to earn at least $80,000/year (~$38/hour full-time) to afford the median rent of $1,990/mo in Palatine. The local median household income is $97,819/yr, meaning the typical Palatine household meets that threshold.

Is rent going up or down in Palatine?

Rent in Palatine has increased 4.1% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Palatine neighborhoods have the lowest rent?

The most affordable ZIP codes in Palatine are 60067 ($1,937/mo), and 60074 ($2,049/mo). Citywide, the median rent in Palatine is $1,990/mo.

How does Palatine rent compare to other cities in Illinois?

Palatine is middle-of-the-pack for Illinois for rent, ranking #64 out of 142 tracked cities at $1,990/mo.

Which nearby cities are cheaper to rent in than Palatine?

Several nearby cities have lower median rents than Palatine ($1,990/mo): Arlington Heights ($1,949/mo), Rolling Meadows ($1,984/mo).

What percentage of Palatine residents rent vs. own?

According to Census data, approximately 32.6% of Palatine households are renters, while 67.4% are owner-occupied. Palatine leans toward homeownership, which can mean a smaller rental inventory.

How does Palatine rent compare to the national average?

Palatine's median rent of $1,990/mo is $25 (1%) above the US national median of $1,965/mo. Within Illinois, it ranks #64 out of 142 tracked cities.

Income Affordability

24%

VERY AFFORDABLE

At $1,990/mo, rent takes ~24% of Palatine's median household income ($97,819/yr). The standard benchmark is 30%.

Palatine 24%Benchmark 30%

State income tax4.95%

Run the Palatine affordability calculator →

Nearby cities

Rolling Meadows

$1,984/mo

-$6

Arlington Heights