Rental Market Trends in Monmouth, IL
What is the average rent in Monmouth, IL?
$499/month
Average Rent
0 Sq Ft
Average Apartment Size
+1.3%
Increase in the Last Year
As of May 2025, the average rent in Monmouth, IL is $499 per month. This is 69% lower than the national average rent of $1,625/month, making renting in Monmouth more affordable than most cities in the US. When you rent an apartment in Monmouth, you can expect to pay about $463 per month for a studio, $499 for a one-bedroom apartment, and around $654 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay or more.
How much has average rent changed in Monmouth, IL?
In the past year, rent has increased by 1.3%, which averages out to $7 more per month.
What salary do I need to live comfortably in Monmouth, IL?
Because the average rent in Monmouth is $499, you’ll want to make about $1,663 per month or $19,956 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.
Nearby City Rent Trends
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
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.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2025.
* Percentages may not total 100 due to rounding.