59 Cheap Apartments for rent in Palatine, IL

Last updated November 19 at 8:36am UTC
1455 WINSLOWE Drive
Palatine
Palatine, IL
Updated November 16 at 6:07pm UTC
1 Bedroom
$900
1217 E Long Valley Dr
Palatine
Palatine, IL
Updated November 19 at 1:55am UTC
2 Bedrooms
$1,100
915 North Countryside Drive
Baldwin
Palatine, IL
Updated November 9 at 2:05am UTC
1 Bedroom
$1,100
1211 E Long Valley Dr
Palatine
Palatine, IL
Updated November 19 at 2:00am UTC
2 Bedrooms
$1,075
1270 North Sterling Avenue
Baldwin
Palatine, IL
Updated November 17 at 2:11am UTC
1 Bedroom
$975
Results within 1 miles of Palatine, IL
2296 West Nichols Road
Arlington Heights
Arlington Heights, IL
Updated November 14 at 9:45am UTC
1 Bedroom
$985
Results within 5 miles of Palatine, IL
Park Butterfield Apartments
2200 S Butterfield Rd
Mundelein, IL
Updated November 18 at 3:58pm UTC
Studio
$1,020
1 Bedroom
$1,137
2 Bedrooms
$1,368
1225 Woodbury Ln
Palatine
Palatine, IL
Updated November 19 at 2:00am UTC
2 Bedrooms
$1,100
2247 Nichols Road
Arlington Heights
Arlington Heights, IL
Updated November 9 at 2:05am UTC
2 Bedrooms
$1,100
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November 2017 Palatine Rent Report

Welcome to the November 2017 Palatine Rent Report. In this report, we'll evaluate trends in the Palatine rental market, including comparisons to cities throughout the metro, state, and nation.

View full Palatine Rent Report
Rent Report
Palatine

November 2017 Palatine Rent Report

Welcome to the November 2017 Palatine Rent Report. In this report, we'll evaluate trends in the Palatine rental market, including comparisons to cities throughout the metro, state, and nation.

Palatine rents increase sharply over the past month

Palatine rents have increased 0.7% over the past month, and are up moderately by 2.5% in comparison to the same time last year. Currently, median rents in Palatine stand at $1,130 for a one-bedroom apartment and $1,320 for a two-bedroom. This is the second straight month that the city has seen rent increases after a decline in August. Palatine's year-over-year rent growth leads the state average of 1.0%, but trails the national average of 2.7%.

Rents rising across the Chicago Metro

Throughout the past year, rent increases have been occurring not just in the city of Palatine, but across the entire metro. Of the largest 10 cities that we have data for in the Chicago metro, 8 of them have seen prices rise. Here's a look at how rents compare across some of the largest cities in the metro.

  • Woodridge has seen the fastest rent growth in the metro, with a year-over-year increase of 2.9%. The median two-bedroom there costs $1,430, while one-bedrooms go for $1,220.
  • Over the past year, Lisle has seen the biggest rent drop in the metro, with a decline of 1.6%. Median two-bedrooms there cost $1,400, while one-bedrooms go for $1,190.
  • Naperville has the most expensive rents of the largest cities in the Chicago metro, with a two-bedroom median of $1,740; rents went down 0.4% over the past month but rose 1.6% over the past year.
  • Chicago proper has the least expensive rents in the Chicago metro, with a two-bedroom median of $1,270; rents decreased 1.1% over the past month but were up 1.1% over the past year.

Palatine rents more affordable than many large cities nationwide

As rents have increased moderately in Palatine, large cities nationwide have seen rents grow more modestly, or in some cases, even decline. Palatine is still more affordable than most large cities across the country.

  • Palatine's median two-bedroom rent of $1,320 is above the national average of $1,160. Nationwide, rents have grown by 2.7% over the past year compared to the 2.5% rise in Palatine.
  • While Palatine's rents rose moderately over the past year, some cities nationwide saw decreases, including DC (-0.6%) and New York (-0.2%).
  • Renters will find more reasonable prices in Palatine than most large cities. For example, San Francisco has a median 2BR rent of $3,070, which is more than twice the price in Palatine.

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 -1.1% 1.1%
Aurora $1,100 $1,300 -0.3% 1.9%
Naperville $1,480 $1,740 -0.4% 1.6%
Arlington Heights $1,240 $1,450 -0.8% 2.3%
Evanston $1,290 $1,520 -1.1% -0.2%
Palatine $1,130 $1,320 0.7% 2.5%
Wheaton $1,260 $1,480 0.2% 0.2%
Hoffman Estates $1,090 $1,280 0.3%
Woodridge $1,220 $1,430 -1.6% 2.9%
Lisle $1,190 $1,400 -1.6% -1.6%

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.