Park Ridge, 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 Park Ridge, Illinois rental market.
Park Ridge, Illinois
Average Apartment Rent
$2,636
Y-o-Y Change in Average
Apartment Rent
-0.9%
As of March 2026
Compared to a year ago, Park Ridge, Illinois apartments have recorded a -0.9% rent decrease.
Park Ridge, Illinois Average apartment rent trend
Park Ridge, Illinois Average Apartment Rent
Park Ridge, Illinois Apartment rent ranges
At 33.53%, apartments priced $2,000 - $2,500 represent the bulk of Park Ridge, Illinois rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 7.19%.
Park Ridge, Illinois Housing tenure**
Renters take up 15% of Park Ridge, Illinois real estate, occupying a total of 2,273 units, while homeowners live in 12,961 properties.
Median number of rooms of renter-occupied housing units**
4.1
Renter median household income**
$73,667
Average household size of renter-occupied housing units**
1.91
Rental vacancy rate**
5%
Park Ridge, Illinois Renter-occupied housing units by no. of bedrooms**
There are 851 rentals in Park Ridge, Illinois with 2 beds making up the highest share of the market, at 37%. Units with No bedrooms, on the other hand, hold the lowest percentage (2%), amounting to 37 units. Overall, the median number of rooms in Park Ridge, Illinois homes for rent is 4.1.
Park Ridge, Illinois Renter-occupied units by age of householder**
Most condos for rent in Park Ridge, Illinois are occupied by residents in the 45 - 54 years age group (29%), followed by those in the 35 - 44 years age group (15%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 2%.
Park Ridge, Illinois Renter-occupied housing units by family type**
Park Ridge, Illinois Renter-occupied housing units by the presence of own children**
A total of 1,052 apartments for rent in Park Ridge, Illinois, or 46% of all rentals are family households. Additionally, 23% of rental homes include children under the age of 18 – that’s 530 units. All in all, the median size of a renter-occupied household in Park Ridge, Illinois is 1.91.
Park Ridge, Illinois Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 42% of the rental market. In contrast, residents with less than a high school degree reside in 10% of the homes for rent in Park Ridge, Illinois.
Park Ridge, Illinois Renter-occupied units by year structure built**
The highest share of Park Ridge, Illinois apartment rentals, namely 21% or 485 units, were Built 1950 - 1959, followed by those Built 1960 - 1969 (18%, 405 units), and the ones Built 1939 or earlier (16%, 375 units).
Park Ridge, Illinois Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most Park Ridge, Illinois renters (45%) moved in 2010 to 2017, while only 2% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Park Ridge, Illinois condos for rent is 2016.
Park Ridge, Illinois Renter-occupied housing units by vehicles available**
When it comes to transportation options, 58% of Park Ridge, Illinois renters have 1 vehicle available per household, 20% of them have 2 vehicles available, and 17% have No vehicle available.
Park Ridge, Illinois Means of transportation to work of householders living in renter-occupied housing units**
Park Ridge, Illinois Geographical mobility in the past year for householders living in renter-occupied housing units**
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 Park Ridge, 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
