Watermark at The Grove
2511 Watermark Ter,
Elgin, IL 60124
1-2 Beds | $1,945 - $2,895
Rental Market Trends in Sleepy Hollow, IL
What is the average rent in Sleepy Hollow, IL?
$1,511/month
Average Rent
756 Sq Ft
Average Apartment Size
-0.2%
Decrease in the Last Year
Sleepy Hollow, IL Rental Market Overview
The average rent in Sleepy Hollow, IL is $1,511 per month. For comparison, the national average rent price in the US is currently $1,662/month, which means Sleepy Hollow rent prices are 9% lower than the national average.
- Studio apartments in Sleepy Hollow average per month.
- One-bedroom apartments in Sleepy Hollow average $1,511 per month.
- Two-bedroom apartments in Sleepy Hollow average $1,929 per month.
- Three-bedroom apartments in Sleepy Hollow average $2,291 or more per month.
Data Updated: July 1, 2026
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
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Average Sq Ft
How much has average rent changed in Sleepy Hollow, IL?
In the past year, rent has decreased by 0.2%, which averages out to $3 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated July 2026
Legend
2025
2026
Rent Ranges in Sleepy Hollow, IL
Last Updated July 2026
$1,501 - $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
0%
$1,001 - $1,500/month
100%
$1,501 - $2,000/month
0%
Above $2,000/month
What salary do I need to live comfortably in Sleepy Hollow, IL?
Because the average rent in Sleepy Hollow is $1,511, you’ll want to make about $5,036 per month or $60,432 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 Sleepy Hollow, IL compare to other nearby cities and neighborhoods?
Use the tool below to compare Sleepy Hollow, 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.
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
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Frequently Asked Questions
What is the average rent in Sleepy Hollow?
The average rent in Sleepy Hollow is $1,511 per month, which is 9.1% lower than the national average of $1,662.
Are rents going up or down in Sleepy Hollow?
Rents in Sleepy Hollow, IL are decreasing, with prices down 0.2% year-over-year and $3 less per month.
What rent range is most common in Sleepy Hollow?
In Sleepy Hollow, IL, 100% of apartments fall between $1,501 - $2,000/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 June 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.