53 Apartments under 1200 for rent in Schaumburg, IL

Last updated August 16 at 10:17am UTC
323 Woodbury Court
Schaumburg
Schaumburg, IL
Updated August 14 at 10:25am UTC
2 Bedrooms
$1,000
300 South Roselle Road
Schaumburg
Schaumburg, IL
Updated August 13 at 2:41am UTC
1 Bedroom
$1,100
Results within 1 miles of Schaumburg, IL
937 Atlantic Avenue
Hoffman Estates
Hoffman Estates, IL
Updated August 13 at 2:32pm UTC
2 Bedrooms
$1,185
Results within 5 miles of Schaumburg, IL
4000 BAYSIDE Drive
Palatine
Palatine, IL
Updated August 15 at 10:26pm UTC
1 Bedroom
$1,000
1091 Rodenburg Road
Roselle
Roselle, IL
Updated August 8 at 10:15am UTC
1 Bedroom
$1,050
1547 W Irving Park Rd # 220
South Itasca
Itasca, IL
Updated August 7 at 10:11am UTC
1 Bedroom
$1,075
900 South PLUM GROVE Road
Palatine
Palatine, IL
Updated August 6 at 10:04pm UTC
2 Bedrooms
$1,150
387 Wilmington Drive
Bartlett
Bartlett, IL
Updated August 2 at 10:15pm UTC
1 Bedroom
$1,150
1267 Wyndham Ln 106
Palatine
Palatine, IL
Updated August 16 at 10:17am UTC
1 Bedroom
$995
1202 Woodbury Ln
Palatine
Palatine, IL
Updated August 15 at 1:21am UTC
1 Bedroom
$890

August 2018 Schaumburg Rent Report

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

View full Schaumburg Rent Report
Rent Report
Schaumburg

August 2018 Schaumburg Rent Report

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

Schaumburg rents increased moderately over the past month

Schaumburg rents have increased 0.3% over the past month, and have increased slightly by 1.4% in comparison to the same time last year. Currently, median rents in Schaumburg stand at $1,370 for a one-bedroom apartment and $1,610 for a two-bedroom. This is the fourth straight month that the city has seen rent increases after a decline in March. Schaumburg's year-over-year rent growth leads the state average of -0.4%, as well as the national average of 1.2%.

Rents rising across the Chicago Metro

Throughout the past year, rent increases have been occurring not just in the city of Schaumburg, but across the entire metro. Of the largest 10 cities that we have data for in the Chicago metro, 7 of them have seen prices rise. 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 rose 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 were up 0.2% over the past month but fell 0.1% over the past year.

Many large cities nationwide show more affordable rents compared to Schaumburg

As rents have increased slightly in Schaumburg, large cities nationwide have seen rents grow more quickly. Compared to most large cities across the country, Schaumburg is less affordable for renters.

  • Schaumburg's median two-bedroom rent of $1,610 is above the national average of $1,180. Nationwide, rents have grown by 1.2% over the past year compared to the 1.4% increase in Schaumburg.
  • While Schaumburg's rents rose slightly over the past year, some cities nationwide saw decreases, including Baltimore (-1.6%) and St. Louis (-0.5%).
  • Renters will generally find more expensive prices in Schaumburg than most large cities. For example, Detroit has a median 2BR rent of $890, where Schaumburg 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 $1,080 $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%
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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.