Apartments & Homes for Rent in 60074

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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 May 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 6.6% ($112) higher than the Illinois average of $1,701 and 1.1% ($20) higher than the U.S. average of $1,793.

Average Rent
$1,813
Monthly ChangeMonth Over Month Change
Increased1.9% ($34)
Yearly ChangeYear Over Year Change
Increased4.6% ($80)
Avg. Days on MarketAverage Days on Market
25
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $1,685 Increased2.3% ($38) Increased8.4% ($131)
2 Beds $1,925 Decreased9.2% ($196) Increased5.1% ($93)
3 Beds $2,281 Decreased4.3% ($103) Increased10.8% ($222)
Nearby Cities Average Rent Avg. Rent vs. PalatineAverage Rent vs. Palatine Avg. Days on MarketAverage Days on Market
Rolling Meadows $1,756 Decreased3.1% ($57) 25 days
Arlington Heights $2,158 Increased19% ($345) 30 days
Buffalo Grove $2,283 Increased25.9% ($470) 30 days
Hoffman Estates $1,687 Decreased6.9% ($126) 25 days
Wheeling $2,166 Increased19.5% ($353) 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 $1,813 per month.
Homes in Palatine typically rent for between $1,180 and $2,965 per month, with an average of $1,813 per month.
In Palatine, the average rent for a 1-bedroom home is $1,685 per month, for a 2-bedroom home, $1,925 per month, and a 3-bedroom home is $2,281 per month.
The average rent in Palatine is 1.1% ($20) higher than the national average of $1,793 per month.
The average rent in Palatine has increased by 1.9% ($34) in the last month and increased by 4.6% ($80) 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 17 rental properties available in Palatine, IL.
Based on the current averages, a household would need an annual income of $77,000 to comfortably afford a 2-bedroom home in Palatine.
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