Albion on Lake Cook
500 E Constitution Dr,
Palatine, IL 60074
1-3 Beds | $1,840 - $2,793
Rental Market Trends in Palatine, IL
Updated September 2026
The average rent in Palatine, IL is $1,651/month.
Rent in Palatine is roughly equal to the national average rent of of $1,664/month.
$1,651/month
Average Rent
771 Sq Ft
Average Size
-0.2%
Change / Year
530
Available Apartments
Palatine rent varies by unit size and layout:
- Studio apartments in Palatine average $1,230 per month.
- One-bedroom apartments in Palatine average $1,651 per month.
- Two-bedroom apartments in Palatine average $1,903 per month.
- Three-bedroom apartments in Palatine average $2,329 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Palatine, IL?
In the past year, rent has decreased by 0.2%, which averages out to $3 less per month.
Market Trends Over Time
September 2026
2025
2026
Rent Ranges in Palatine, IL
September 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
52%
$1,001 - $1,500/month
43%
$1,501 - $2,000/month
5%
Above $2,000/month
What salary do I need to live comfortably in Palatine, IL?
Because the average rent in Palatine is $1,651, you’ll want to make about $5,503 per month or $66,036 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.
View the Palatine Area GuideCompare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
-
Rolling Meadows
Avg Rent: $1,518/month
-
Arlington Heights
Avg Rent: $1,936/month
-
Deer Park
Avg Rent: $2,470/month
-
Barrington
Avg Rent: $1,751/month
-
Schaumburg
Avg Rent: $1,863/month
-
Hoffman Estates
Avg Rent: $1,656/month
Apartment Communities in Palatine We Think You'll Love
Rental Management, Simplified
Our all-in-one suite of property manangement software makes the rental process easy. Screen tenants, manage payments, and more – all on Apartments.com
Guides for Managing Your Rental
Frequently Asked Questions
What is the average rent in Palatine?
The average rent in Palatine is $1,651 per month, which is 0.8% lower than the national average of $1,664.
What is the average rent for a house in Palatine?
The average rent for a house in Palatine, IL is $3,395 per month.
What is the average rent for a townhome in Palatine?
The average rent for a townhome in Palatine, IL is $2,055 per month.
What is the average rent for a condo in Palatine?
The average rent for a condo in Palatine, IL is $1,591 per month.
Are rents going up or down in Palatine?
Rents in Palatine, IL are decreasing, with prices down 0.2% year-over-year and $3 less per month.
What rent range is most common in Palatine?
In Palatine, IL, 52% of apartments fall between $1,001 - $1,500/month, though prices may vary depending on location and other factors.
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 September 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.