Illinois (IL) Average Rent Prices 2024

Average Rent Prices in Illinois (IL)

$7931

Studio

$8751

1BR

$1,1031

2BR

$1,4641

3BR

$1,6191

4BR

Illinois (IL) Rent Prices

As of 2024, the overall average fair market rent for a residential rental property in Illinois is $1,171. Average rent prices in Illinois sit below the national average rent of $1,274, in which Illinois ranks as the as the 17th lowest rent among all 50 states and the 34th highest rent among all 50 states within the United States. In Illinois’ large metropolitan areas such as Chicago, IL, the average rent prices tend to be higher, while alternative areas such as Naperville, IL, can provide more affordable options.

Illinois (IL) National Rent Rankings

34th

Highest Rent Among 50 States

17th

Lowest Rent Among 50 States

Below

The National Rent Average

Average Rent Prices in Illinois (IL) Visual Chart

Studio

A one-room unit with a private bathroom.

1BR

A unit that has a separate bathroom and a separate bedroom.

2BR

A unit that has two separate and distinct bedrooms.

3BR

A unit that has 3 separate and distinct bedrooms.

4BR

A unit that has 4 separate and distinct bedrooms.

Fair Market Rent

Gross rent estimate for a standard rental unit in a given market.

Average Rent Prices in Illinois (IL) by Metro Area

wdt_ID Metro Studio 1BR 2BR 3BR 4BR
1 Bloomington, IL MSA 782 869 1.103 1.536 1.541
2 Bond County, IL HUD Metro FMR Area 605 794 893 1.163 1.342
3 Cape Girardeau, MO-IL MSA 685 742 933 1.315 1.540
4 Champaign-Urbana, IL MSA 880 885 49 1.372 1.397
5 Chicago-Joliet-Naperville, IL HUD Metro FMR Area 1.399 1.507 1.714 2.182 2.583
6 Danville, IL MSA 691 728 956 1.191 1.273
7 Davenport-Moline-Rock Island, IA-IL MSA 646 773 953 1.247 1.437
8 Decatur, IL MSA 686 770 943 1.287 1.395
9 DeKalb County, IL HUD Metro FMR Area 899 1.014 1.327 1.870 2.252
10 Fulton County, IL HUD Metro FMR Area 649 654 859 1.126 1.332
11 Grundy County, IL HUD Metro FMR Area 1.025 1.134 1.490 1.947 1.984
12 Jackson County, IL HUD Metro FMR Area 632 714 932 1.224 1.312
13 Johnson County, IL HUD Metro FMR Area 617 727 910 1.100 1.453
14 Kankakee, IL MSA 789 886 1.164 1.569 1.619
15 Kendall County, IL HUD Metro FMR Area 1.180 1.325 1.741 2.453 2.564
16 Macoupin County, IL HUD Metro FMR Area 712 717 942 1.235 1.428
17 Peoria, IL HUD Metro FMR Area 683 756 965 1.258 1.293
18 Rockford, IL MSA 699 785 1.031 1.380 1.423
19 Springfield, IL MSA 725 873 1.070 1.421 1.459
20 St. Louis, MO-IL HUD Metro FMR Area 928 972 1.209 1.565 1.818
21 Williamson County, IL HUD Metro FMR Area 743 744 978 1.313 1.561
Metro Studio 1BR 2BR 3BR 4BR

Based on average of Fair Market Rents (FMRs) for 0-4 bedroom residential rental units throughout United States excluding Puerto Rico for calendar year 2024.

Illinois (IL) Residential Rental Agreements

An Illinois (IL) residential lease agreement is a rental property document that includes the terms and conditions between a landlord who rents the property and the tenant in the state of Illinois. The contract outlines essential information, such as rent amount, applicable late fees, grace periods, and landlord-tenant responsibilities.

Average Rent Prices in Other US States 2024

Rent prices for each state across the United States can greatly vary. Click on a State below to see the specific fair market residential rent prices for that state:

The Ultimate Guide to Rent Payments

Rental Property Rent Payments

Rent payments are the financial lifeblood for rental properties, but require fair and competitive pricing and effective collections.

The Ultimate Guide to Security Deposits

Rental Property Security Deposits

Security deposits play a key role in risk mitigation against potential tenant-related damages or contractual breaches.

The Ultimate Guide to Rental Utilities

Rental Property Utilities

Rental property utilities whether they are included or not, represent a significant consideration for both landlords and tenants.

Average Rent in the United States

Average Rent in the United States

Average rent prices across the United States provide excellent insights into highs, lows, and emerging market trends.

Cheapest Rent in the United States

The cheapest rent in the U.S. is an appealing topic for thrifty tenants and investors seeking lower price point properties.

Most Expensive Rent in the United States

It’s no secret that rents have been continually on the rise, but where are rents really the highest in the United States?

Rental Property Calculators

Our rental property calculators help you easily calculate common metrics such as rent increases, late fees, and more. Click on a calculator or button below to start using them for free – no sign up required.

1Based on average of Fair Market Rents (FMRs) for 0-4 bedroom residential rental units throughout the United States, excluding Puerto Rico.

Methodology

Areas with insufficient inventory or populations less than 25,000 were excluded from this analysis. Averages are based on the combined average of 0-4 bedroom residential rental properties throughout the United States excluding Puerto Rico.

Data

Rent prices are based on aggregated data from one and/or several sources noted below:

Disclaimer

The information included is used for illustrative purposes only. The data contained herein does not constitute financial, legal, or any material advice. Data is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals before making any material decisions.

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