Homes for Rent in 61016

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What to Know About

Life in Cherry Valley & Beyond

Cherry Valley 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

Cherry Valley, IL

As of July 2025, Cherry Valley's rental market is balanced, with an even mix of renter demand and available inventory leading to typical leasing times. Cherry Valley's average rent is 30.3% ($529) lower than the Illinois average of $1,743 and 31.6% ($561) lower than the U.S. average of $1,775.

Average Rent
$1,214
Monthly ChangeMonth Over Month Change
Decreased1.1% ($13)
Yearly ChangeYear Over Year Change
Decreased24.3% ($389)
Avg. Days on MarketAverage Days on Market
56
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $1,165 Decreased2.3% ($27) Decreased9.5% ($122)
2 Beds $1,299 Decreased14.4% ($219) Decreased21.6% ($358)
3 Beds $1,513 Decreased14.4% ($255) Decreased18.8% ($350)
Nearby Cities Average Rent Avg. Rent vs. Cherry ValleyAverage Rent vs. Cherry Valley Avg. Days on MarketAverage Days on Market
Belvidere $1,102 Decreased9.2% ($112) 37 days
Rockford $1,052 Decreased13.3% ($162) 35 days
Loves Park $1,034 Decreased14.8% ($180) 58 days
Machesney Park $1,863 Increased53.5% ($649) 54 days
Roscoe $2,088 Increased72% ($874) 54 days
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
Cherry Valley Rental Market FAQs

Explore rental prices, market trends, and availability in Cherry Valley, IL.

The average rent in Cherry Valley, IL is $1,214 per month.
Homes in Cherry Valley typically rent for between $816 and $1,967 per month, with an average of $1,214 per month.
In Cherry Valley, the average rent for a 1-bedroom home is $1,165 per month, for a 2-bedroom home, $1,299 per month, and a 3-bedroom home is $1,513 per month.
The average rent in Cherry Valley is 31.6% ($561) lower than the national average of $1,775 per month.
The average rent in Cherry Valley has decreased by 1.1% ($13) in the last month and decreased by 24.3% ($389) over the past year.
The rental market in Cherry Valley, IL, is currently balanced, with an even mix of renter demand and available inventory leading to typical leasing times.
In Cherry Valley, IL, the average rental stays on the market for approximately 56 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 2 rental properties available in Cherry Valley, IL.
Based on the current averages, a household would need an annual income of $51,960 to comfortably afford a 2-bedroom home in Cherry Valley.
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