Rent in Elgin, IL
Across Elgin's 4 ZIP codes, a 2-bedroom typically rents for about $1,822 a month, with figures from $1,323–$2,690. The highest typical rent is in 60124 ($2,214) and the lowest in 60123 ($1,557). Owner-occupied homes in Kane County pay about 2.26% of their value a year in property tax, and the 30-year fixed mortgage rate averaged 7.24% in the week of Oct 29, 2026.
Rent by bedrooms
| Size | Typical | Range across ZIPs | ZIPs |
|---|---|---|---|
| Studio | $1,444 | $886–$2,240 | 4 |
| 1 bed | $1,570 | $1,056–$2,380 | 4 |
| 2 beds | $1,822 | $1,323–$2,690 | 4 |
| 3 beds | $2,317 | $1,703–$3,460 | 4 |
| 4 beds | $2,618 | $1,727–$3,950 | 4 |
Typical = median of each ZIP's best guess. Gross rent (rent plus tenant-paid utilities). Sources: HUD Small Area Fair Market Rents (Oct 1, 2026), Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).
Elgin ZIP codes
2 bedsFrequently asked questions
- What is the average rent for a 2-bedroom in Elgin, IL?
- About $1,822 a month: the median of the typical rents in 4 ZIP codes, which range from $1,323–$2,690. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 1-bedroom in Elgin, IL?
- About $1,570 a month: the median of the typical rents in 4 ZIP codes, which range from $1,056–$2,380. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 3-bedroom in Elgin, IL?
- About $2,317 a month: the median of the typical rents in 4 ZIP codes, which range from $1,703–$3,460. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a studio in Elgin, IL?
- About $1,444 a month: the median of the typical rents in 4 ZIP codes, which range from $886–$2,240. Figures are gross rent (rent plus tenant-paid utilities).
- What is the average rent for a 4-bedroom in Elgin, IL?
- About $2,618 a month: the median of the typical rents in 4 ZIP codes, which range from $1,727–$3,950. Figures are gross rent (rent plus tenant-paid utilities).
- Which Elgin ZIP code has the highest rent?
- For a 2-bedroom, 60124 has the highest typical rent at $2,214 a month, and 60123 the lowest at $1,557.
- What is the property tax rate in Elgin, IL?
- Owner-occupied homes in Kane County pay a typical 2.26% of their value a year (Census ACS, median taxes paid ÷ median home value, Dec 31, 2024). Investors often pay more after a purchase: the home is reassessed at the sale price and there is no homestead exemption.
- What is the current 30-year mortgage rate?
- The 30-year fixed rate averaged 7.24% in the week of Oct 29, 2026 (Freddie Mac PMMS via FRED). It's a national average for owner-occupied loans; investment property loans usually cost more.
- Where do these Elgin rent figures come from?
- HUD Small Area Fair Market Rents (Oct 1, 2026), Census ACS 5-year median gross rent (Dec 31, 2024) and HUD county Fair Market Rents (Oct 1, 2026).