5 Apartments under 1200 for rent in Lombard, IL

Last updated January 21 at 8:28pm UTC
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January 2018 Lombard Rent Report

Welcome to the January 2018 Lombard Rent Report. Lombard rents remained steady over the past month. In this report, we'll evaluate trends in the Lombard rental market, including comparisons to cities throughout the metro, state, and nation.

View full Lombard Rent Report
Rent Report
Lombard

January 2018 Lombard Rent Report

Welcome to the January 2018 Lombard Rent Report. Lombard rents remained steady over the past month. In this report, we'll evaluate trends in the Lombard rental market, including comparisons to cities throughout the metro, state, and nation.

Lombard rent trends were flat over the past month

Over the past month Lombard rents have remained steady. Currently, median rents in Lombard stand at $1,280 for a one-bedroom apartment and $1,500 for a two-bedroom. Lombard's 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 rents have remained steady in the city of Lombard throughout the past year, cities across the metro have seen a different trend. Rents have risen in all of 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 increased 2.8% over the past year but remained flat month-over-month.

Many large cities nationwide show more affordable rents compared to Lombard

Rent growth in Lombard has been relatively stable over the past year - some other large cities have seen more substantial increases; in contrast, rents in a few cities have actually declined. Compared to most large cities across the country, Lombard is less affordable for renters.

  • Lombard's median two-bedroom rent of $1,500 is above the national average of $1,160. Nationwide, rents have grown by 2.8% over the past year compared to the stagnant growth in Lombard.
  • While rents in Lombard remained moderately stable this year, similar cities saw increases, including Columbus (+3.8%), Baltimore (+2.9%), and Houston (+2.5%); note that median 2BR rents in these cities go for $960, $1,200, and $1,030 respectively.
  • Renters will generally find more expensive prices in Lombard than most large cities. For example, Detroit has a median 2BR rent of $890, where Lombard is more than one-and-a-half times that price.

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.