2 Apartments under 1000 for rent in Hoffman Estates, IL

Last updated January 17 at 2:44pm UTC
Results within 1 miles of Hoffman Estates, IL
300 South Roselle Road
Schaumburg
Schaumburg, IL
Updated January 13 at 7:06pm UTC
1 Bedroom
$975
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January 2018 Hoffman Estates Rent Report

Welcome to the January 2018 Hoffman Estates Rent Report. Hoffman Estates rents remained steady 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

January 2018 Hoffman Estates Rent Report

Welcome to the January 2018 Hoffman Estates Rent Report. Hoffman Estates rents remained steady 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 held steady over the past month

Hoffman Estates rents have remained steady over the past month, but are down slightly by 0.5% year-over-year. Currently, median rents in Hoffman Estates stand at $1,100 for a one-bedroom apartment and $1,290 for a two-bedroom. Hoffman Estates' year-over-year rent growth lags the state average of 1.3%, as well as the national average of 2.8%.

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 all 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.

  • Naperville has the most expensive rents in the Chicago metro, with a two-bedroom median of $1,730; the city has also seen rent growth of 3.5% over the past year, the fastest in the metro.
  • Over the past month, Palatine has seen the biggest rent drop in the metro, with a decline of 0.7%. Median two-bedrooms there cost $1,320, while one-bedrooms go for $1,120.
  • Elgin has the least expensive rents in the Chicago metro, with a two-bedroom median of $1,180; rents were up 2.8% over the past year but remained flat month-over-month.

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 $1,290 is above the national average of $1,160. Nationwide, rents have grown by 2.8% over the past year compared to the 0.5% decline in Hoffman Estates.
  • While rents in Hoffman Estates fell moderately over the past year, many cities nationwide saw increases, including Columbus (+3.8%), Baltimore (+2.9%), and Houston (+2.5%).
  • Renters will find more reasonable prices in Hoffman Estates than most large cities. For example, San Francisco has a median 2BR rent of $3,010, 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 $1,060 $1,250 -0.2% 0.8%
Aurora $1,110 $1,300 -0.1% 2.9%
Joliet $1,030 $1,210 0.3% 2.8%
Naperville $1,470 $1,730 -0.0% 3.5%
Elgin $1,000 $1,180 0.3% 2.8%
Arlington Heights $1,230 $1,440 0.1% 0.5%
Evanston $1,270 $1,500 -0.7% 0.0%
Schaumburg $1,350 $1,590 0.0% 2.0%
Palatine $1,120 $1,320 -0.7% 2.6%
Des Plaines $1,030 $1,220 0.7% 3.1%
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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.