Rental market snapshot for Elgin, Illinois

Elgin, Illinois Rental Property Market Overview

Elgin, Illinois is a vibrant city located in the northern part of the state. With a population of 113,911 according to the US Census in 2021, Elgin is a bustling city with plenty of attractions and activities. It is home to a variety of restaurants, shops, and entertainment venues, as well as a number of parks and outdoor spaces. Elgin is also known for its diverse cultural offerings, with a number of museums, galleries, and performing arts venues. With its many attractions and amenities, Elgin is a great place to live, work, and play.

The average rent for an apartment in Elgin is $1,856. The cost of rent varies depending on several factors, including location, size, and quality.

The average rent has decreased by -3.1% over the past year.

Last Updated January 31, 2023

Average monthly rent graph in Elgin Illinois | Cost of Living

  • The most expensive ZIP Code in Elgin is 60120 with an average price of $1,820
  • The cheapest ZIP Code in Elgin is 60123 with an average price of $1,500

Elgin ZIP Codes with the highest, most expensive rent

#zip codeaverage rent
160120$1,820
260123$1,575

Live near Elgin, Illinois's Top Sights and Attractions

Lords Park is a beautiful park located in the suburbs of Illinois. It features a large lake, a variety of walking trails, a playground, a picnic area, and a historic carousel. The carousel is a popular attraction, with its hand-carved horses and chariots, and its original Wurlitzer organ. The park also has a zoo, with a variety of animals, including wolves, bison, and bald eagles. The park also has a golf course, a disc golf course, and a driving range. The park is a great place to spend a day outdoors, with plenty of activities for the whole family.

Wing Park is a beautiful outdoor space located in Elgin, Illinois. It features a variety of amenities, including a playground, a picnic area, a walking path, a pond, and a disc golf course. The park also has a variety of trees and plants, making it a great place to relax and enjoy nature. There are also several sports fields, including a baseball diamond and a soccer field. The park is a great place to spend time with family and friends, and it's a great place to get some exercise.

Burnidge Forest Park is a beautiful outdoor area located in Elgin, Illinois. It features a variety of activities for visitors to enjoy, including hiking trails, fishing, and bird watching. The park also has a large picnic area, playground, and a disc golf course. The park is home to a variety of wildlife, including deer, foxes, and other small animals. The park also has a large lake, which is a popular spot for fishing and swimming. The park is a great place to spend a day outdoors, and it is a great way to explore the natural beauty of Elgin.

Cary Park District is a sprawling outdoor recreation area located in Elgin, Illinois. It features a variety of activities for all ages, including a lake for fishing, a disc golf course, a playground, a picnic area, and several miles of trails for hiking, biking, and horseback riding. The park also offers a variety of special events throughout the year, such as concerts, festivals, and educational programs.

Kiwanis Park is a large outdoor recreation area located in Elgin, Illinois. It features a variety of amenities, including a large lake, walking trails, picnic areas, playgrounds, and a disc golf course. The park also has a variety of sports fields, including baseball, softball, and soccer fields. There is also a large pavilion, perfect for hosting events or gatherings. The park is a great place to spend the day outdoors, enjoying nature and the many activities available.

Channing Park is a large outdoor recreational area located in Elgin, Illinois. It features a variety of activities, including a playground, walking trails, a fishing pond, a disc golf course, and a picnic area. The park also has a large open field, perfect for sports and other outdoor activities. The park is surrounded by lush trees and vegetation, providing a peaceful and serene atmosphere.

Festival Park is a large outdoor venue located in a scenic area. It features a variety of attractions, including a large amphitheater, a lake, walking trails, picnic areas, and a playground. The amphitheater hosts a variety of concerts and performances throughout the year, and the lake is a popular spot for fishing and boating. The walking trails offer a peaceful escape from the hustle and bustle of everyday life, and the picnic areas provide a great spot to relax and enjoy a meal. The playground is a great place for kids to let off some steam.

Cornerstone Park is a beautiful outdoor space located in the heart of a bustling midwestern town. It features a large lake, walking paths, and a variety of recreational activities. The park is surrounded by lush trees and lush grass, providing a peaceful atmosphere for visitors. There are also several picnic areas, playgrounds, and a large pavilion for special events. The park is a popular spot for locals and visitors alike, offering a great place to relax and enjoy the outdoors.

Trout Park is a beautiful outdoor recreation area located in the northern part of Illinois. It features a large lake with a fishing pier, a playground, picnic areas, and a walking path. The lake is stocked with trout, and visitors can enjoy fishing, swimming, and boating. There are also several nature trails, a disc golf course, and a campground. The park is a great place to relax and enjoy nature, and it is a popular spot for families and outdoor enthusiasts.

Wright Avenue Park is a picturesque park located in a residential area. It features a large playground with swings, slides, and a sandbox, as well as a basketball court, a walking path, and a picnic area with grills and tables. There is also a pond with a fountain, and a large open field perfect for playing sports or having a picnic. The park is surrounded by tall trees that provide shade and a peaceful atmosphere.

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Elgin, Illinois area median rent change by ZIP Code map

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How does Elgin compare to other cities in Illinois ?

citymedian price
Riverside$2,230
Naperville$2,000
Pingree Grove$2,450
Monee$2,055
Hickory Hills$2,208
Godfrey$900
Franklin Park$2,325
Aurora$1,860
Hillside$1,100

Average household income in Elgin area graph - US Census

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The median household income in Elgin in 2021 was $72,999. This represents a 23.7% change from 2011 when the median was $59,032.

#categorypercent
0Less than $10,0004.2%
1$10,000 to $14,9993.2%
2$15,000 to $19,9992.8%
3$20,000 to $24,9992.6%
4$25,000 to $29,9993.3%
5$30,000 to $34,9994.1%
6$35,000 to $39,9995.2%
7$40,000 to $44,9994.8%
8$45,000 to $49,9993.6%
9$50,000 to $59,9997.0%
10$60,000 to $74,99910.2%
11$75,000 to $99,99915.7%
12$100,000 to $124,99912.8%
13$125,000 to $149,9997.1%
14$150,000 to $199,9997.8%
15$200,000 or more5.4%

Frequently asked questions

Our data is best categorized as "alternative data", which is a burgeoning sector. Through partnerships and direct feeds, we extract key factual elements that are publicly available within rental listings on internet listing sites and property websites. Once aggregated, we mine through the data to parse out relevant insights and calculate important metrics, benchmarks, and other KPIs. Each week, our system sifts through millions of listing observations and other pockets of market information to deliver the most comprehensive picture of rental housing available.

This is a metric that we try not to overthink. Simply, we take each unique listing observation within a geographic boundary and calculate a simple average. Of course, we're careful to filter for duplicates and other listings that aren't reflective of the market.

Yes, but please attribute us accordingly.

Yes. We can deliver bulk raw data in various formats. Please contact us to discuss - [email protected]

While some of our data is refreshed daily and other data comes in weekly, the bulk of it comes in on a biweekly basis.

Our coverage is nationwide! In our platform, we have data points for every ZIP code and neighborhood boundary in the country.

Every rental housing unit is differentiated by attributes such as its location, square footage, and amenity composition. Thanks to machine learning and natural language processing technologies we deploy, we're able to deconstruct our rental listing data points and identify key amenities for each listing. With this information, we're able to give signals around how certain amenities drive rental pricing value in certain areas.

Well, we think so! At the highest level, our process is simple. Listings data is ingested, cleaned (de-duplicated. etc.), analyzed for insights, and then presented to our users.
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