At $2,433/mo, rent takes about 20% 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 $2,433 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
30% of the median household income ($142,986) is $3,575 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,910).
From Zillow's monthly rent index (ZORI) for Park Ridge. 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
Park Ridge, IL is majority owner-occupied, has a large retiree population, has a median income above the national average, 66.1% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Park Ridge, IL has changed in 5 years
Household income in the area moved from $124,535 to $142,986 across the same window, up 14.8% versus 2021. Census counts show Park Ridge, IL losing about 895 residents over the five-year window, down 2.3% on net. Bachelor's-degree-or-higher attainment moved from 62.4% to 66.1% across the same window.
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Can you afford rent in Park Ridge on your salary?
At $2,433/mo, how Park Ridge rent compares to typical pay (30% rule).
Park Ridge rent by bedroom count
Median rent for each apartment size in Park Ridge. Click any size for full breakdown.
Tips for renters in Park Ridge
Last updated: October 17, 2026
The median rent in Park Ridge is $2,433/mo as of October 2026. A studio apartment averages $1,600/mo while a 2-bedroom runs $1,930/mo. One-bedroom apartments average $1,710/mo and 3-bedroom units go for $2,480/mo.
At 20% of local median household income ($142,986/yr), Park Ridge 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 Park Ridge?
Is rent going up or down in Park Ridge?
How does Park Ridge rent compare to other cities in Illinois?
Which nearby cities are cheaper to rent in than Park Ridge?
At $2,433/mo, rent takes ~20% of Park Ridge's median household income ($142,986/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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