85 Cheap Apartments for rent in Schaumburg, IL

Last updated May 20 at 9:20pm UTC
23 Dennis Court
Schaumburg
Schaumburg, IL
Updated April 8 at 12:40am UTC
2 Bedrooms
$1,350
Results within 1 miles of Schaumburg, IL
1750 Sussex Walk
Huntington Club Townhome and Condominiums South
Hoffman Estates, IL
Updated May 19 at 11:18am UTC
2 Bedrooms
$1,350
1195 Higgins Quarters Drive
Highland Crossing Condominiuims
Hoffman Estates, IL
Updated May 18 at 7:14pm UTC
1 Bedroom
$949
1681 Cornell Dr
Hoffman Estates
Hoffman Estates, IL
Updated May 10 at 2:13pm UTC
2 Bedrooms
$1,350
600 Mesa Drive
Steeple Hill Condominiums
Hoffman Estates, IL
Updated May 5 at 1:43pm UTC
1 Bedroom
$950
1778 Marquette Ln
Hoffman Estates
Hoffman Estates, IL
Updated May 1 at 10:32am UTC
2 Bedrooms
$1,200
1309 Kingsbury Drive
Hanover Park
Hanover Park, IL
Updated April 24 at 10:30am UTC
2 Bedrooms
$1,200
1375 Rebecca Drive
Moon Lake Village
Hoffman Estates, IL
Updated April 8 at 5:24am UTC
1 Bedroom
$1,000
Results within 5 miles of Schaumburg, IL
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May 2018 Schaumburg Rent Report

Welcome to the May 2018 Schaumburg Rent Report. Schaumburg rents remained steady 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

May 2018 Schaumburg Rent Report

Welcome to the May 2018 Schaumburg Rent Report. Schaumburg rents remained steady 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 held steady over the past month

Schaumburg rents have remained flat over the past month, however, they are up slightly by 1.2% year-over-year. Currently, median rents in Schaumburg stand at $1,340 for a one-bedroom apartment and $1,580 for a two-bedroom. Schaumburg's year-over-year rent growth leads the state average of 0.2%, but trails the national average of 1.5%.

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, 8 of them have seen prices rise. Here's a look at how rents compare across some of the largest cities in the metro.

  • Aurora has seen the fastest rent growth in the metro, with a year-over-year increase of 3.1%. The median two-bedroom there costs $1,300, while one-bedrooms go for $1,110.
  • Over the past year, Arlington Heights has seen the biggest rent drop in the metro, with a decline of 1.9%. Median two-bedrooms there cost $1,450, while one-bedrooms go for $1,230.
  • Naperville has the most expensive rents of the largest cities in the Chicago metro, with a two-bedroom median of $1,720; rents remained steady over the past month.
  • Elgin has the least expensive rents in the Chicago metro, with a two-bedroom median of $1,170; rents were up 0.5% over the past year but remained flat month-over-month.

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 $1,580 is above the national average of $1,170. Nationwide, rents have grown by 1.5% over the past year compared to the 1.2% rise in Schaumburg.
  • While Schaumburg's rents rose slightly over the past year, many cities nationwide saw more substantial increases, including Houston (+3.1%), Denver (+1.6%), and Columbus (+1.5%).
  • 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 $1,070 $1,260 0.2% -0.6%
Aurora $1,110 $1,300 0.0% 3.1%
Joliet $1,020 $1,200 0.1% 1.3%
Naperville $1,460 $1,720 -0.0% 0.4%
Elgin $1,000 $1,170 0.1% 0.5%
Arlington Heights $1,230 $1,450 0.7% -1.9%
Evanston $1,280 $1,510 0.5% 1.3%
Schaumburg $1,340 $1,580 0.1% 1.2%
Palatine $1,130 $1,330 0.3% 2.0%
Des Plaines $1,040 $1,220 -0.3% 1.6%
See more

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.