Apartments & Condos for Rent in Palatine, IL

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What to Know About

Life in Palatine & Beyond

Palatine shares many of the great qualities that make Illinois a desirable place to live.

Illinois is known for its rich cultural heritage, lively urban centers, and beautiful countryside landscapes. Explore the state's cultural heritage by visiting renowned museums such as the Lincoln Presidential Library and Museum, the Field Museum of Natural History, the Museum of Science and Industry, and the Art Institute of Chicago. The state also has a thriving theater and art scene, including the renowned Steppenwolf Theatre Company in Chicago. Illinois is also home to respected universities like the University of Illinois at Urbana-Champaign and Northwestern University.

Outdoor enthusiasts will love the scenic beauty of the Shawnee National Forest and the adventure-filled trails of the Starved Rock State Park. Sports fans will be in their element in Illinois, cheering on the Chicago Bears (NFL), Chicago Blackhawks (NHL), Chicago Cubs (MLB), Chicago White Sox (MLB), and Chicago Bulls (NBA). Experience famous attractions like the Willis Tower, Navy Pier, and the Lincoln Park Zoo. Also, enjoy the musicals and plays at Broadway-in-Chicago, festivals throughout the summer months, and culinary tours of the local restaurants.

With its vibrant cultural scene, exciting entertainment options, and top-notch educational opportunities, Illinois offers a high quality of life, making it a great place to live.

Rental Market Trends

Palatine, IL

As of April 2025, Palatine's rental market is highly competitive, where rentals lease within days, often attracting multiple applications and above-asking offers. Palatine's average rent is 1.7% ($30) higher than the Illinois average of $1,749 and 1.1% ($20) lower than the U.S. average of $1,799.

Average Rent
$1,779
Monthly ChangeMonth Over Month Change
Increased4.7% ($80)
Yearly ChangeYear Over Year Change
Decreased0.7% ($13)
Avg. Days on MarketAverage Days on Market
25
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $1,647 Increased3.2% ($51) Increased4.6% ($72)
2 Beds $2,121 Increased18.4% ($329) Increased15.6% ($287)
3 Beds $2,384 Increased18.4% ($370) Increased15.6% ($322)
Nearby Cities Average Rent Avg. Rent vs. PalatineAverage Rent vs. Palatine Avg. Days on MarketAverage Days on Market
Rolling Meadows $1,803 Increased1.3% ($24) 25 days
Arlington Heights $2,155 Increased21.1% ($376) 30 days
Buffalo Grove $2,107 Increased18.4% ($328) 30 days
Hoffman Estates $1,665 Decreased6.4% ($114) 25 days
Wheeling $2,143 Increased20.5% ($364) 29 days
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Palatine Rental Market FAQs

Explore rental prices, market trends, and availability in Palatine, IL.

The average rent in Palatine, IL is $1,779 per month.
Apartments in Palatine typically rent for between $1,153 and $3,099 per month, with an average of $1,779 per month.
In Palatine, the average rent for a 1-bedroom apartment is $1,647 per month, for a 2-bedroom apartment, $2,121 per month, and a 3-bedroom apartment is $2,384 per month.
The average rent in Palatine is 1.1% ($20) lower than the national average of $1,799 per month.
The average rent in Palatine has increased by 4.7% ($80) in the last month and decreased by 0.7% ($13) over the past year.
The rental market in Palatine, IL, is currently highly competitive, where rentals lease within days, often attracting multiple applications and above-asking offers.
In Palatine, IL, the average rental stays on the market for approximately 25 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 14 rental properties available in Palatine, IL.
Based on the current averages, a household would need an annual income of $84,840 to comfortably afford a 2-bedroom apartment in Palatine.
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