Last updated
Average Rent in Elgin, IL & Rent Trends
Rent prices and market trends across 2 apartment communities in Elgin, IL. Updated daily.
Market Average
$1,965/mo
Lowest Available
$1,490/mo
cheapest unit on market
Communities
2
tracked daily
Units Listed
52
available now
Price Cuts This Week in Elgin, IL
32 listed units across 2 buildings offering studio units in Elgin, IL dropped their asking rent in the past 7 days, an average cut of $45/mo. These are the largest cuts, tracked unit by unit with daily price checks.
| Apartment | Unit | Last Week | Now | Cut |
|---|---|---|---|---|
| Authentix South Elgin | Unit 73, 9-103 | $2,026 | $1,579 | $447 |
| Springs at South Elgin | Unit 15 | $2,267 | $2,101 | $166 |
| Springs at South Elgin | Unit 16 | $2,371 | $2,306 | $65 |
| Springs at South Elgin | Unit 6 | $2,177 | $2,126 | $51 |
| Authentix South Elgin | Unit 54, 5-108 | $2,105 | $2,055 | $50 |
| Authentix South Elgin | Unit 57, 5-108 | $2,105 | $2,055 | $50 |
| Springs at South Elgin | Unit 1 | $2,353 | $2,311 | $42 |
| Authentix South Elgin | Unit 51, 2-209 | $1,590 | $1,550 | $40 |
Rent by Neighborhood in Elgin, IL
Compare average rent across Elgin, IL neighborhoods. Click any area to see detailed trends. View these neighborhoods on the rent map
| Neighborhood | Avg Rent | 30d Change | From | Properties | Units |
|---|---|---|---|---|---|
| Elgin 60124 | $2,296 | ▼ $9 | $1,995 | 1 | 19 |
| West Dundee 60118 | $2,260 | ▲ $28 | $1,781 | 1 | 4 |
| Elgin 60123 | $2,168 | ▲ $166 | $1,616 | 1 | 23 |
| Elgin 60120 | $1,929 | ▲ $6 | $1,555 | 2 | 25 |
| South Elgin 60177 | $1,829 | ▼ $49 | $1,490 | 2 | 39 |
Is Rent Going Up or Down in Elgin, IL?
As of September 2026, the average rent in Elgin, IL is $1,965 per month across 2 apartment communities and 52 available units.
The most affordable option is Authentix South Elgin starting at $1,490/mo. By unit type, a studio averages $1,965/mo.
Prices range from $1,490 to $2,821 per month. The most common price point is the $2,000 range, where 20 units are currently listed.
Rent Price Distribution
Rent by Bedroom Type in Elgin, IL
Rent Prices by Apartment in Elgin, IL
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| Authentix South Elgin | $1,490/mo | $1,805/mo | 29 | 4.7 |
| Springs at South Elgin | $1,616/mo | $2,168/mo | 23 | 4.5 |
Frequently Asked Questions About Rent in Elgin, IL
What is the average rent in Elgin, IL?
Is rent going up or down in Elgin, IL?
What is the cheapest apartment in Elgin, IL?
How many apartments are available in Elgin, IL?
What salary do I need to live comfortably in Elgin, IL?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$79,000/year
Based on the 30 percent rule, using our tracked average rent of $1,965/mo.
Comfortable income
$94,000/year
Based on the 25 percent rule, leaving more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($1,490/mo), you need to earn at least $60,000/year.
Median household income in Elgin, IL is $88,316 , about 6% below the comfortable-living threshold.
Cost of living in Elgin, IL
Overall prices in Elgin, IL runs above the national average by about 2% (BEA Regional Price Parity index 102.5, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Elgin, IL's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $1,965 |
| Utilities | $477 |
| Groceries | $563 |
| Transportation | $1,138 |
| Healthcare | $555 |
| Other goods and services | $888 |
| Estimated total | $5,586/mo |
Population
114,106
Median household income
$88,316
Census median rent
$1,260/mo
Census rent burden
28.5%
Median age
36.3
Mean commute
28 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Google Search Trends for Elgin, IL Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Explore Elgin, IL Apartments
Browse all 2 communities with daily-updated pricing and availability.