Clover Ridge East Apartments
1445 E Evergreen Dr,
Palatine, IL 60074
1-2 Beds | $1,808 - $5,334
Rental Market Trends in Palatine, IL
What is the average rent in Palatine, IL?
$1,596/month
Average Rent
776 Sq Ft
Average Apartment Size
+5.6%
Increase in the Last Year
As of December 2024, the average rent in Palatine, IL is $1,596 per month. For comparison, the national average rent price in the US is currently $1,560/month, which means Palatine rent prices are 2% higher than the national average. When you rent an apartment in Palatine, you can expect to pay about $935 per month for a studio, $1,596 for a one-bedroom apartment, and around $1,774 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,235 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Palatine, IL?
In the past year, rent has increased by 5.6%, which averages out to $90 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated December 2024
Legend
2023
2024
Rent Ranges in Palatine, IL
Last Updated December 2024
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
9%
$700 - $1,000/month
50%
$1,001 - $1,500/month
36%
$1,501 - $2,000/month
5%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Palatine?
Based on current rent prices, Downtown Palatine and Far Northwest Suburban Cook" are the most affordable neighborhoods in Palatine.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Palatine?
Based on current rent prices, Far Northwest Suburban Cook and Downtown Palatine" are the most expensive neighborhoods in Palatine.
Neighborhood
Average Rent
Average Sq Ft
Which Palatine neighborhoods have the most rentals available?
The neighborhoods in Palatine with the most apartments available are Far Northwest Suburban Cook and Downtown Palatine" .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Palatine, IL?
Because the average rent in Palatine is $1,596, you’ll want to make about $5,320 per month or $63,840 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Palatine, IL compare to other nearby cities and neighborhoods?
Use the tool below to compare Palatine, IL to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$1,207/month
$1,378/month
One Bedroom
$1,073/month
$1,702/month
Two Bedroom
$1,441/month
$1,955/month
Three Bedroom
$1,221/month
$2,364/month
Nearby City Rent Trends
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Methodology
† Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
* Percentages may not total 100 due to rounding.