Last updated
Average Rent in Montgomery 60538 & Rent Trends
Rent prices and market trends across 2 apartment communities in Montgomery 60538, Montgomery, IL. Updated daily.
Market Average
$1,902/mo
Lowest Available
$1,200/mo
cheapest unit on market
Communities
2
tracked daily
Units Listed
12
available now
Price Cuts This Week in Montgomery 60538
3 listed units across 1 building in Montgomery 60538 dropped their asking rent in the past 7 days, an average cut of $19/mo. These are the largest cuts, tracked unit by unit with daily price checks.
| Apartment | Unit | Last Week | Now | Cut |
|---|---|---|---|---|
| Montgomery Place Apartments | Unit 2, Elm | $1,873 | $1,853 | $20 |
| Montgomery Place Apartments | Unit 3, Oak | $1,893 | $1,873 | $20 |
| Montgomery Place Apartments | Unit 1, Juniper | $1,830 | $1,814 | $16 |
Montgomery 60538 vs Montgomery, IL Average
Montgomery 60538 is the same price as the Montgomery, IL average . The citywide average is $1,902/mo across all neighborhoods.
Is Rent Going Up or Down in Montgomery 60538?
As of August 2026, the average rent in Montgomery 60538 is $1,902 per month across 2 apartment communities and 12 available units.
The most affordable option is The Onyx on Victoria starting at $1,200/mo. By unit type, a studio averages $1,200/mo, a 1-bedroom averages $1,847/mo, a 2-bedroom averages $2,054/mo, a 3-bedroom averages $2,560/mo.
Prices range from $1,200 to $2,560 per month. The most common price point is the $2,000 range, where 4 units are currently listed.
Average Rent by Bedroom
Rent Price Distribution
Rent by Bedroom Type in Montgomery 60538
Rent Prices by Apartment in Montgomery 60538
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| The Onyx on Victoria | $1,200/mo | $1,375/mo | 3 | 3.6 |
| Montgomery Place Apartments | $1,814/mo | $2,078/mo | 9 | 4.6 |
Frequently Asked Questions About Rent in Montgomery 60538
What is the average rent in Montgomery 60538?
Is rent going up or down in Montgomery 60538?
What is the cheapest apartment in Montgomery 60538?
How much is a 1-bedroom apartment in Montgomery 60538?
How many apartments are available in Montgomery 60538?
What salary do I need to live comfortably in Montgomery 60538?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$76,000/year
Based on the 30 percent rule, using our tracked average rent of $1,902/mo.
Comfortable income
$91,000/year
Based on the 25 percent rule, leaving more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($1,200/mo), you need to earn at least $48,000/year.
Median household income in Montgomery 60538 is $96,985 , about 6% above the comfortable-living threshold.
Cost of living in Montgomery 60538
Overall prices in Montgomery 60538 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 Montgomery 60538's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $1,902 |
| Utilities | $477 |
| Groceries | $563 |
| Transportation | $1,138 |
| Healthcare | $555 |
| Other goods and services | $888 |
| Estimated total | $5,523/mo |
Population
21,205
Median household income
$96,985
Census median rent
$1,897/mo
Rent as % of income
29.0%
Median age
35.1
Mean commute
33 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 Montgomery 60538 Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Explore Montgomery 60538 Apartments
Browse all 2 communities with daily-updated pricing and availability.