12 Apartments under 1000 for rent in Hoffman Estates, IL

Last updated August 16 at 3:20am UTC
Results within 5 miles of Hoffman Estates, IL
1813 Silverstone Drive
Carpentersville
Carpentersville, IL
Updated August 12 at 10:17am UTC
1 Bedroom
$985
Results within 10 miles of Hoffman Estates, IL
235 Robert Drive
Elgin
Elgin, IL
Updated August 15 at 6:40am UTC
1 Bedroom
$975
1363 Cunat Court
Lake in the Hills
Lake in the Hills, IL
Updated August 7 at 10:01am UTC
1 Bedroom
$925
6010 Sanders Ct
Carpentersville
Carpentersville, IL
Updated July 27 at 10:02am UTC
5 Bedrooms
$740
114 N Spring St
Downtown Elgin
Elgin, IL
Updated August 3 at 5:15pm UTC
Studio
$750
10 S Geneva St
Gifford Park
Elgin, IL
Updated August 2 at 5:13pm UTC
1 Bedroom
$795
1267 Wyndham Ln 106
Palatine
Palatine, IL
Updated August 15 at 11:20am UTC
1 Bedroom
$995
1202 Woodbury Ln
Palatine
Palatine, IL
Updated August 15 at 1:21am UTC
1 Bedroom
$890
724 Elm St.
Arrowhead Hills
Algonquin, IL
Updated August 10 at 9:30am UTC
1 Bedroom
$860
303 Kathleen Dr
Elgin
Elgin, IL
Updated August 2 at 5:19pm UTC
2 Bedrooms
$950

August 2018 Hoffman Estates Rent Report

Welcome to the August 2018 Hoffman Estates Rent Report. Hoffman Estates rents increased over the past month. In this report, we'll evaluate trends in the Hoffman Estates rental market, including comparisons to cities throughout the metro, state, and nation.

View full Hoffman Estates Rent Report
Rent Report
Hoffman Estates

August 2018 Hoffman Estates Rent Report

Welcome to the August 2018 Hoffman Estates Rent Report. Hoffman Estates rents increased over the past month. In this report, we'll evaluate trends in the Hoffman Estates rental market, including comparisons to cities throughout the metro, state, and nation.

Hoffman Estates rents increase sharply over the past month

Hoffman Estates rents have increased 1.0% over the past month, but have decreased moderately by 1.3% in comparison to the same time last year. Currently, median rents in Hoffman Estates stand at $1,110 for a one-bedroom apartment and $1,300 for a two-bedroom. This is the second straight month that the city has seen rent increases after a decline in May. Hoffman Estates' year-over-year rent growth lags the state average of -0.4%, as well as the national average of 1.2%.

Rents rising across the Chicago Metro

While rent prices have decreased in Hoffman Estates over the past year, the rest of the metro is seeing the opposite trend. Rents have risen in 7 of the largest 10 cities in the Chicago metro for which we have data. Here's a look at how rents compare across some of the largest cities in the metro.

  • Palatine has seen the fastest rent growth in the metro, with a year-over-year increase of 2.8%. The median two-bedroom there costs $1,350, while one-bedrooms go for $1,150.
  • Over the past year, Chicago proper has seen the biggest rent drop in the metro, with a decline of 1.8%. Median two-bedrooms there cost $1,270, while one-bedrooms go for $1,080.
  • Waukegan has the least expensive rents in the Chicago metro, with a two-bedroom median of $990; rents increased 0.4% over the past month but remained flat year-over-year.
  • Naperville has the most expensive rents of the largest cities in the Chicago metro, with a two-bedroom median of $1,750; rents increased 0.2% over the past month but fell 0.1% over the past year.

Hoffman Estates rents more affordable than many large cities nationwide

As rents have fallen moderately in Hoffman Estates, many large cities nationwide have seen prices increase, in some cases substantially. Hoffman Estates is also more affordable than most large cities across the country.

  • Hoffman Estates' median two-bedroom rent of $1,300 is above the national average of $1,180. Nationwide, rents have grown by 1.2% over the past year compared to the 1.3% decline in Hoffman Estates.
  • While rents in Hoffman Estates fell moderately over the past year, many cities nationwide saw increases, including Houston (+3.6%), San Francisco (+1.1%), and New York (+1.1%).
  • Renters will find more reasonable prices in Hoffman Estates than most large cities. For example, San Francisco has a median 2BR rent of $3,090, which is more than twice the price in Hoffman Estates.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
City Median 1BR price Median 2BR price M/M price change Y/Y price change
Chicago $1,080 $1,270 0.1% -1.8%
Aurora $1,110 $1,310 -0.2% 0.8%
Joliet $1,020 $1,200 -0.4% 0.5%
Naperville $1,490 $1,750 0.2% -0.1%
Elgin $1,000 $1,180 -0.4% 0.4%
Waukegan $840 $990 0.4% 0.2%
Arlington Heights $1,240 $1,460 -0.2% -0.2%
Evanston $1,310 $1,540 0.7% 1.1%
Schaumburg $1,370 $1,610 0.3% 1.4%
Palatine $1,150 $1,350 -0.2% 2.8%
See more

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.