Watermark at The Grove
2511 Watermark Ter,
Elgin, IL 60124
1-2 Beds | $1,865 - $2,895
Rental Market Trends in Sleepy Hollow, IL
Updated August 2026
The average rent in Sleepy Hollow, IL is $1,515/month.
Rent in Sleepy Hollow is roughly equal to the national average rent of of $1,664/month.
$1,515/month
Average Rent
756 Sq Ft
Average Size
+0%
Change / Year
34
Available Apartments
Sleepy Hollow rent varies by unit size and layout:
- Studio apartments in Sleepy Hollow average per month.
- One-bedroom apartments in Sleepy Hollow average $1,515 per month.
- Two-bedroom apartments in Sleepy Hollow average $1,935 per month.
- Three-bedroom apartments in Sleepy Hollow average $2,297 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Sleepy Hollow, IL?
Rents have remained stable over the past year, with little overall movement.
Market Trends Over Time
August 2026
2025
2026
Rent Ranges in Sleepy Hollow, IL
August 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 $1,515, you’ll want to make about $5,050 per month or $60,600 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.
View the Sleepy Hollow Area GuideCompare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
-
West Dundee
Avg Rent: $1,925/month
-
Carpentersville
Avg Rent: $1,206/month
-
East Dundee
Avg Rent: $1,386/month
-
Elgin
Avg Rent: $1,453/month
-
Algonquin
Avg Rent: $1,835/month
Apartment Communities in Sleepy Hollow We Think You'll Love
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Frequently Asked Questions
What is the average rent in Sleepy Hollow?
The average rent in Sleepy Hollow is $1,515 per month, which is 9.0% lower than the national average of $1,664.
Are rents going up or down in Sleepy Hollow?
Rents in Sleepy Hollow, IL are relatively stable, with minimal month-over-month change.
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.