Evanston, Illinois Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Evanston, Illinois rental market.
Highlights
An apartment for rent in Evanston, Illinois typically goes for $2,467 per month, while a single-family home for rent in Evanston, Illinois has a monthly cost of around $3,298. Renter-occupied units make up 44% of the local housing market, while the rental vacancy rate in Evanston, Illinois is at 6.7.
Evanston, Illinois
Average Apartment Rent
$2,467
Y-o-Y Change in Average
Apartment Rent
7.5%
Average Single-Family Rent
$3,298
As of July 2024
Compared to a year ago, Evanston, Illinois apartments have recorded a 7.5% rent increase.
Evanston, Illinois Average apartment rent trend
Evanston, Illinois Average Apartment Rent
Evanston, Illinois Apartment rent ranges
At 61.91%, apartments priced Over $2,000 represent the bulk of Evanston, Illinois rentals, while condos priced $700 - $1000 hold the lowest share of the market – 1.69%.
Evanston, Illinois Housing tenure**
Renters take up 44% of Evanston, Illinois real estate, occupying a total of 13,620 units, while homeowners live in 17,280 properties.
Median number of rooms of renter-occupied housing units**
3.9
Renter median household income**
$58,585
Average household size of renter-occupied housing units**
2.06
Rental vacancy rate**
6.7%
Evanston, Illinois Renter-occupied housing units by no. of bedrooms**
There are 5,110 rentals in Evanston, Illinois with 2 beds making up the highest share of the market, at 38%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 81 units. Overall, the median number of rooms in Evanston, Illinois homes for rent is 3.9.
Evanston, Illinois Renter-occupied units by age of householder**
Most condos for rent in Evanston, Illinois are occupied by residents in the 25 - 34 years age group (27%), followed by those in the 35 - 44 years age group (15%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 4%.
Evanston, Illinois Renter-occupied housing units by family type**
Evanston, Illinois Renter-occupied housing units by the presence of own children**
A total of 5,000 apartments for rent in Evanston, Illinois, or 37% of all rentals are family households. Additionally, 21% of rental homes include children under the age of 18 – that’s 2,835 units. All in all, the median size of a renter-occupied household in Evanston, Illinois is 2.06.
Evanston, Illinois Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 61% of the rental market. In contrast, residents with less than a high school degree reside in 3% of the homes for rent in Evanston, Illinois.
Evanston, Illinois Renter-occupied units by year structure built**
The highest share of Evanston, Illinois apartment rentals, namely 33% or 4,534 units, were Built 1939 or earlier, followed by those Built 1950 - 1959 (12%, 1,678 units), and the ones Built 1960 - 1969 (11%, 1,530 units).
Evanston, Illinois Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Evanston, Illinois renters (39%) moved in 2018 to 2020, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Evanston, Illinois condos for rent is 2018.
Evanston, Illinois Renter-occupied housing units by vehicles available**
When it comes to transportation options, 54% of Evanston, Illinois renters have 1 vehicle available per household, 30% of them have No vehicle available, and 14% have 2 vehicles available.
Evanston, Illinois Means of transportation to work of householders living in renter-occupied housing units**
Evanston, Illinois Geographical mobility in the past year for householders living in renter-occupied housing units**
Evanston, Illinois Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Evanston, Illinois apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
