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City Report · IL

Park Ridge

Pop. 38,667·10th most expensive in Illinois·One of the pricier rental markets in the US
Median rent (all units)
$2,598/mo
Year-over-Year
Stable
Month-over-Month
-2.1%
vs US Median
+$633
Falling (Monthly)
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Most AffordableMost Expensive
Park Ridge · $2,598
More expensive than 82% of US cities · National median $1,965/mo
Affordability
22% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $2,598/mo, rent takes about 22% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$104,000/yr
Local median income
$142,986/yr
Based on the 30%-of-income rule using Park Ridge's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,600
1 BR
$1,710
2 BR
$1,930
3 BR
$2,480
4 BR+
$2,910
Research median
$1,930/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
$31,176/yr
At $2,598/mo median
Rent Market Meter
Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are softening (down 0.0% YoY), so renters have negotiating leverage.
Based on rent-price momentum (+0.0% YoY, -2.1% MoM), not inventory.
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Demographics

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.

Population
38,667
Median income
$142,986
Median age
44.4
Renters
15.2%
Age distribution
24.7%
12.6%
26.5%
16%
20.2%
Under 1824.7%
18–3412.6%
35–5426.5%
55–6416%
65+20.2%
Gender
49.8%
50.2%
Male49.8%
Female50.2%
Race & ethnicity
83.1%
White83.1%
Black1%
Hispanic7.5%
Asian6.3%
Other2%
Education (25+)
13%
17.5%
66.1%
No HS diploma3.4%
HS diploma13%
Some college17.5%
Bachelor's+66.1%
Housing tenure
84.8%
15.2%
Owner84.8%
Renter15.2%

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

2021 vs 2026

How Park Ridge, IL has changed in 5 years

Income
$124,535 → $142,986
up 14.8%
Population
39,562 → 38,667
down 2.3%
Renter share
15.4% → 15.2%
-0.2 pts
Bachelor's+
62.4% → 66.1%
+3.7 pts
Median age
45 → 44.4
-0.6 yrs

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.

Community

Discussions about Park Ridge

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View Park Ridge rent history (2015–2026) →
Salary vs rent

Can you afford rent in Park Ridge on your salary?

At $2,598/mo, how Park Ridge rent compares to typical pay (30% rule).

By apartment size

Park Ridge rent by bedroom count

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

Local insights

Tips for renters in Park Ridge

About renting in Park Ridge, IL

Last updated: July 20, 2026

The median rent in Park Ridge is $2,598/mo as of July 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 22% 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.

FAQ

Frequently asked questions

Is Park Ridge an affordable city for renters?

Park Ridge is considered very affordable for renters. At $2,598/mo, rent takes approximately 22% of the local median household income ($142,986/yr). The standard benchmark is 30%. Park Ridge falls comfortably within that range.

How much income do you need to rent in Park Ridge?

To keep rent at or below 30% of gross income, you would need to earn at least $104,000/year (~$50/hour full-time) to afford the median rent of $2,598/mo in Park Ridge. The local median household income is $142,986/yr, meaning the typical Park Ridge household meets that threshold.

Is rent going up or down in Park Ridge?

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

How does Park Ridge rent compare to other cities in Illinois?

Park Ridge is one of the pricier cities in Illinois for rent, ranking #10 out of 142 tracked cities at $2,598/mo.

Which nearby cities are cheaper to rent in than Park Ridge?

Several nearby cities have lower median rents than Park Ridge ($2,598/mo): Franklin Park ($1,700/mo), Des Plaines ($2,031/mo), Niles ($2,160/mo).

What percentage of Park Ridge residents rent vs. own?

According to Census data, approximately 15.2% of Park Ridge households are renters, while 84.8% are owner-occupied. Park Ridge leans toward homeownership, which can mean a smaller rental inventory.

How does Park Ridge rent compare to the national average?

Park Ridge's median rent of $2,598/mo is $633 (32%) above the US national median of $1,965/mo. Within Illinois, it ranks #10 out of 142 tracked cities.
Income Affordability
22%
VERY AFFORDABLE

At $2,598/mo, rent takes ~22% of Park Ridge's median household income ($142,986/yr). The standard benchmark is 30%.

Park Ridge 22%Benchmark 30%
State income tax4.95%
Run the Park Ridge affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Park Ridge, IL

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