Rents are 8% below what Wheeling's 10-year trend predicts — a better deal than its own history suggests.
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 $2,009 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
January. Asking rents in Wheeling usually run 1.8% below trend in January and 1.6% above it in July, about $68 a month apart at today's median. Based on 7 years of data.
Rent in Wheeling is at its highest level since Zillow's records here began in January 2019.
Rent in Wheeling changed +0.7% 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 Wheeling rose 34.2% while median household income rose 24.2% ($68,615 to $85,205). Rent outpaced income.
Rent in Wheeling is 35.7% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 2 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($85,205) is $2,130 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,900); a 3-bedroom is $2,440.
Waukegan, 17 miles away, rents for 17% less ($1,660/mo), about $4,200 a year in savings.
From Zillow's monthly rent index (ZORI) for Wheeling. 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
Wheeling, IL is majority owner-occupied, 40.8% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Wheeling, IL has changed in 5 years
Compared with 2021, rent in Wheeling, IL has climbed by $531 per month, settling near $2,009 after starting the period at $1,478. Household income in the area moved from $74,331 to $85,205 across the same window, up 14.6% versus 2021. Rent outpaced income growth by roughly 21.3 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 39,104 to 38,433 between 2021 and 2024, a 1.7% change. Reading these numbers side by side helps frame whether current listings in Wheeling, IL look reasonable against where the market sat half a decade ago.
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Can you afford rent in Wheeling on your salary?
At $2,009/mo, how Wheeling rent compares to typical pay (30% rule).
Wheeling rent by bedroom count
Median rent for each apartment size in Wheeling. Click any size for full breakdown.
Tips for renters in Wheeling
Last updated: October 17, 2026
The median rent in Wheeling is $2,009/mo as of October 2026. A studio apartment averages $1,570/mo while a 2-bedroom runs $1,900/mo. One-bedroom apartments average $1,680/mo and 3-bedroom units go for $2,440/mo.
At 28% of local median household income ($85,205/yr), Wheeling ranks as affordable compared to the national benchmark of 30%. Rents have increased 0.7% over the past year.
Frequently asked questions
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Is rent going up or down in Wheeling?
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Which nearby cities are cheaper to rent in than Wheeling?
At $2,009/mo, rent takes ~28% of Wheeling's median household income ($85,205/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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