The Preserve at Osprey Lake
2025 Greystem Cir,
Gurnee, IL 60031
Studio - 2 Beds | $1,464 - $3,802
Rental Market Trends in Waukegan, IL
What is the average rent in Waukegan, IL?
$1,076/month
Average Rent
666 Sq Ft
Average Apartment Size
+4.6%
Increase in the Last Year
As of December 2024, the average rent in Waukegan, IL is $1,076 per month. This is 31% lower than the national average rent of $1,560/month, making renting in Waukegan more affordable than most cities in the US. When you rent an apartment in Waukegan, you can expect to pay about $878 per month for a studio, $1,076 for a one-bedroom apartment, and around $1,354 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,432 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 Waukegan, IL?
In the past year, rent has increased by 4.6%, which averages out to $50 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 Waukegan, IL
Last Updated December 2024
$700 - $1,000
Most rental prices fall within this range
Percentage*
Rent Range
8%
Below $700/month
47%
$700 - $1,000/month
42%
$1,001 - $1,500/month
4%
$1,501 - $2,000/month
0%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Waukegan?
Based on current rent prices, Downtown Waukegan is the most affordable neighborhood in Waukegan.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Waukegan?
Based on current rent prices, Downtown Waukegan is the most expensive neighborhood in Waukegan.
Neighborhood
Average Rent
Average Sq Ft
Which Waukegan neighborhoods have the most rentals available?
The neighborhood in Waukegan with the most apartments available is Downtown Waukegan .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Waukegan, IL?
Because the average rent in Waukegan is $1,076, you’ll want to make about $3,586 per month or $43,032 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 Waukegan, IL compare to other nearby cities and neighborhoods?
Use the tool below to compare Waukegan, 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
$880/month
$880/month
One Bedroom
$992/month
$992/month
Two Bedroom
$1,261/month
$1,261/month
Three Bedroom
$1,436/month
$1,436/month
Nearby City Rent Trends
Apartment communities in Waukegan we think you'll love
Property Management Companies in Waukegan, IL
Monarch Investment and Management Group
-
305
Communities
-
74,735
Units
-
140
Cities
4 Communities in Waukegan
BH
-
324
Communities
-
90,582
Units
-
196
Cities
3 Communities in Waukegan
The Michaels Organization
-
87
Communities
-
14,048
Units
-
73
Cities
1 Community in Waukegan
KMG Prestige
-
50
Communities
-
5,396
Units
-
35
Cities
1 Community in Waukegan
Highlands Vista Group Management LLC
-
38
Communities
-
6,088
Units
-
28
Cities
1 Community in Waukegan
RMK Management
-
29
Communities
-
7,323
Units
-
19
Cities
1 Community in Waukegan
Bender Companies
-
21
Communities
-
4,427
Units
-
15
Cities
1 Community in Waukegan
Ludwig and Company
-
17
Communities
-
3,174
Units
-
13
Cities
1 Community in Waukegan
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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.