Average Rent in Elgin, IL
3 apartment buildings, 80 units. Real asking prices, refreshed daily.
Avg Rent
$1,990/mo
Cheapest
$1,415/mo
Properties
3
Units
80
Analysis
Rent Price Breakdown
Compare pricing across all 3 properties in Elgin, IL.
Average Rent by Property
Starting Price vs Average
Rent by Bedroom Count
Price per Square Foot
Elgin, IL Rent Prices
All 3 properties ranked by lowest available rent.
Blackhawk Apartment Homes
926 Congdon Ave, Elgin, IL 60120, USA
Carriage Real Estate & Property Management
1250 Larkin Ave Suite 230, Elgin, IL 60123, USA
Watermark at the Grove
2511 Watermark Terrace, Elgin, IL 60124, USA
| # | Property | From | Avg | $/sqft | Rating | Units |
|---|---|---|---|---|---|---|
| 1 | Blackhawk Apartment Homes 926 Congdon Ave, Elgin, IL 60120, USA | $1,415 | $1,669 | $2.05 | 3.6 (182) | 42 |
| 2 | Carriage Real Estate & Property Management 1250 Larkin Ave Suite 230, Elgin, IL 60123, USA | $1,500 | $1,500 | -- | 4.5 (17) | 1 |
| 3 | Watermark at the Grove 2511 Watermark Terrace, Elgin, IL 60124, USA | $1,925 | $2,366 | $2.44 | 4.3 (82) | 37 |
Explore Each Property
Blackhawk Apartment Homes
3.6 (182)926 Congdon Ave, Elgin, IL 60120, USA
Carriage Real Estate & Property Management
4.5 (17)1250 Larkin Ave Suite 230, Elgin, IL 60123, USA
Watermark at the Grove
4.3 (82)2511 Watermark Terrace, Elgin, IL 60124, USA
Elgin, IL Average Rent Prices 2026
The average rent in Elgin, IL is $1,990 per month, based on 80 units across 3 apartment communities. Prices range from $1,415 at Blackhawk Apartment Homes to $1,925 at Watermark at the Grove.
Average Rent by Bedroom Type
| Type | Avg Rent | Starting From | Units |
|---|---|---|---|
| Studio | $2,050/mo | $2,050/mo | 1 |
| 1 Bed | $1,854/mo | $1,415/mo | 31 |
| 2 Bed | $2,071/mo | $1,500/mo | 47 |
| 3 Bed | $2,305/mo | $2,305/mo | 1 |
Every price comes directly from each property's leasing system, updated that morning. Request a neighborhood we don't cover and we add it within 24 hours.
Market Context
Who rents in Elgin, IL, and what they pay
Tracked one-bedroom rent in Elgin, IL averages $1,854/mo, with two-bedroom units averaging $2,071/mo. At the local median household income of $88,316, that works out to 27% of gross income, near the 30 percent affordability ceiling.
The U.S. Census Bureau's American Community Survey 2023 release pegged median gross rent in Elgin, IL at $1,260/mo. The current tracked market average runs 58% higher than that benchmark, reflecting both two to three years of rent growth and the fact that the Census figure covers all renter-occupied housing in Elgin, IL while the tracked market average covers units currently listed in larger apartment communities.
What salary do I need to live comfortably in Elgin, IL?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$80,000/year
30 percent rule -- using our average rent of $1,990/mo.
Comfortable income
$96,000/year
25 percent rule -- leaves more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($1,415/mo), you need to earn at least $57,000/year.
Median household income in Elgin, IL is $88,316 , about 8% below the comfortable-living threshold.
Cost of living in Elgin, IL
Overall prices in Elgin, IL runs above the national average by about 2% (BEA Regional Price Parity index 102.5, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Elgin, IL's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $1,990 |
| Utilities | $477 |
| Groceries | $563 |
| Transportation | $1,138 |
| Healthcare | $555 |
| Other goods and services | $888 |
| Estimated total | $5,611/mo |
Population
114,106
Median household income
$88,316
Census median rent
$1,260/mo
Rent as % of income
28.5%
Median age
36.3
Mean commute
28 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Compare
Nearby cities in Illinois
How Elgin, IL rent compares to other markets in the state.
| City | Avg Rent | vs Elgin, IL | Properties |
|---|---|---|---|
| Chicago, IL | $2,996 | +51% | 26 |
| Peoria, IL | $1,897 | -5% | 12 |
| Naperville, IL | $2,304 | +16% | 12 |
| Aurora, IL | $2,144 | +8% | 12 |
| Schaumburg, IL | $1,916 | -4% | 11 |
| Rockford, IL | $1,215 | -39% | 11 |
Frequently asked questions
What is the average rent in Elgin, IL?
The average rent in Elgin, IL is $1,990 per month, based on 80 units across 3 apartment buildings tracked by Average Rent. Prices are updated every morning through our proprietary data sourcing.
What is the cheapest apartment rent in Elgin, IL?
The lowest available rent in Elgin, IL starts at $1,415 per month. Availability changes daily as leasing data is refreshed each morning.
How much is a 1-bedroom apartment in Elgin, IL?
1-bedroom apartments in Elgin, IL average $1,854/mo. The lowest listed 1-bedroom starts at $1,415/mo across 31 units tracked.
How much is a 2-bedroom apartment in Elgin, IL?
2-bedroom apartments in Elgin, IL average $2,071/mo. Units start from $1,500/mo across 47 units currently listed.
Rent Trends in Elgin, IL
Track how apartment prices are changing over time.
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