185 Luxury Apartments for rent in Palatine, IL

Last updated September 26 at 5:22PM
227 West Wellington Drive
Baldwin
Palatine, IL
Updated September 4 at 7:03PM
4 Bedrooms
$3,800
1487 East Baronet Lane
Palatine
Palatine, IL
Updated September 26 at 5:34AM
2 Bedrooms
$1,800
727 East Whispering Oaks Drive
Palatine
Palatine, IL
Updated September 26 at 9:43AM
2 Bedrooms
$1,495
1106 North Knollwood Drive
Baldwin
Palatine, IL
Updated September 12 at 9:50AM
2 Bedrooms
$1,600
1235 East PRAIRIE BROOK Drive
Palatine
Palatine, IL
Updated August 29 at 6:26PM
3 Bedrooms
$1,825
606 South Stuart Lane
Palatine
Palatine, IL
Updated September 12 at 2:34AM
4 Bedrooms
$1,995
457 South Kensington Court
Palatine
Palatine, IL
Updated September 2 at 2:02AM
5 Bedrooms
$2,950
15 East ILLINOIS Avenue
Palatine
Palatine, IL
Updated September 20 at 2:49AM
3 Bedrooms
$2,000
902 West Carolyn Drive
Palatine
Palatine, IL
Updated August 28 at 10:30AM
4 Bedrooms
$3,300
324 South Valor Court
Palatine
Palatine, IL
Updated September 18 at 6:01PM
2 Bedrooms
$1,850
126 Bent Creek Court
Palatine
Palatine, IL
Updated August 25 at 11:51AM
2 Bedrooms
$1,850
323 West Wilson Street
Palatine
Palatine, IL
Updated September 20 at 2:50AM
3 Bedrooms
$2,200
54 Brookdale Lane
Palatine
Palatine, IL
Updated September 19 at 2:28AM
3 Bedrooms
$3,000
1560 North Saint Marks Place
Baldwin
Palatine, IL
Updated September 16 at 10:48AM
2 Bedrooms
$1,875
209 West BRYANT Avenue
Palatine
Palatine, IL
Updated September 17 at 6:05PM
3 Bedrooms
$1,900
133 West Palatine Road
Palatine
Palatine, IL
Updated September 23 at 3:09AM
2 Bedrooms
$2,000
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Rent Report
Palatine

September 2017 Palatine Rent Report

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

Palatine rents declined moderately over the past month

Palatine rents have declined 0.4% over the past month, but have increased slightly by 1.5% in comparison to the same time last year. Currently, median rents in Palatine stand at $1,110 for a one-bedroom apartment and $1,310 for a two-bedroom. This is the second straight month that the city has seen rent decreases after an increase in June. Palatine's year-over-year rent growth lags the state average of 2.3%, as well as the national average of 3.0%.

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 4.4%. The median two-bedroom there costs $1,460, while one-bedrooms go for $1,240.
  • Over the past month, Hoffman Estates has seen the biggest rent drop in the metro, with a decline of 1.2%. Median two-bedrooms there cost $1,300, while one-bedrooms go for $1,110.
  • Naperville has the most expensive rents of the largest cities in the Chicago metro, with a two-bedroom median of $1,750; rents were up 0.2% over the past month and 2.4% over the past year.
  • Chicago proper has the least expensive rents in the Chicago metro, with a two-bedroom median of $1,290; rents decreased 0.2% over the past month but were up 3.8% over the past year.

Palatine rents more affordable than many large cities nationwide

Rent growth in Palatine 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. Palatine is still more affordable than most large cities across the country.

  • Illinois as a whole has logged 2.3% year-over-year growth, while rent trends across other cities throughout the state have varied.
  • Palatine's median two-bedroom rent of $1,310 is above the national average of $1,160. Nationwide, rents have grown by 3.0% over the past year compared to the 1.5% rise in Palatine.
  • While rents in Palatine remained moderately stable this year, similar cities saw increases, including Denver (+3.0%), St. Louis (+2.6%), and Baltimore (+2.6%); note that median 2BR rents in these cities go for $1,350, $940, and $1,210 respectively.
  • 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 $1,100 $1,290 -0.2% 3.8%
Aurora $1,110 $1,300 0.3% 2.3%
Naperville $1,490 $1,750 0.2% 2.4%
Arlington Heights $1,250 $1,470 0.4% 4.0%
Evanston $1,300 $1,530 0.2% 2.5%
Palatine $1,110 $1,310 -0.4% 1.5%
Wheaton $1,260 $1,480 -0.2% -0.1%
Hoffman Estates $1,110 $1,300 -1.2% 2.2%
Woodridge $1,240 $1,460 0.4% 4.4%
Lisle $1,210 $1,420 -0.0% -0.2%
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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.