Department of Numbers

Cook County Illinois Residential Rent and Rental Statistics

The median monthly gross residential rent in Cook County IL was $1,082 in 2017 according to the Census ACS survey.1 Average gross rent in Cook County was $1,143 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Cook County median and average rent data will be released in September of 2019.

Data is also available below for Cook County rental vacancy rates, Cook County rent as a percent of median income and the fraction of renters in Cook County.

Show dollars as: Nominal Real

Real Gross Rent in Cook County Illinois (2017 dollars)2

2017 1 Year Change 3 Year Change
US Median Gross Rent $1,012 +1.61% +5.86%
Illinois Median Gross Rent $974 +0.93% +5.07%
Cook County IL Median Gross Rent $1,082 +1.69% +7.45%

Cook County IL Real Gross Rent Trends

At $1,082, real median gross rent in Cook County was at its highest level in 2017 since the series began in 2005. At $1,143, real average gross rent in Cook County was at its highest level in 2017 since the series began in 2005.

Real Gross Rent: Cook County IL Median, Cook County IL Average, Illinois Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Cook County

Date US
Median
Illinois
Median
Cook County IL
Median
Cook County IL
Average
2017 $1,012 $974 $1,082 $1,143
2016 $996 $965 $1,064 $1,136
2015 $987 $963 $1,033 $1,115
2014 $956 $927 $1,007 $1,088
2013 $924 $904 $975 $1,050
2012 $912 $896 $968 $1,028
2011 $912 $900 $970 $1,036
2010 $927 $919 $994 $1,054
2009 $931 $915 $994 $1,056
2008 $947 $932 $1,011 $1,067
2007 $899 $892 $971 $1,025
2006 $909 $906 $982 $1,019

Cook County Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Cook County Illinois was 6.61% according to Census ACS data.

Rental Vacancy Rate in Cook County Illinois

2017 1 Year Change 3 Year Change
US 6.18% +0.29% -0.14%
Illinois 7.02% +1.01% +0.49%
Cook County IL 6.61% +1.28% -0.08%

Trends in Cook County IL Rental Vacancy Rate

The rental vacancy rate in Cook County peaked in 2005 at 9.43%. Since then it has fallen by 2.82% to 6.61%. Data records for this series originated in 2005. From a 2016 post peak low of 5.33%, the rental vacancy rate has increased by 1.28%.

Rental Vacancy Rate: Cook County IL, Illinois, US

Rental vacancy rate in Illinois

Historical Rental Vacancy Rate data for Cook County

Date US Illinois Cook County IL
2017 6.18% 7.02% 6.61%
2016 5.89% 6.01% 5.33%
2015 5.85% 6.21% 5.38%
2014 6.32% 6.53% 6.69%
2013 6.49% 6.16% 6.17%
2012 6.77% 6.39% 6.72%
2011 7.40% 7.35% 8.17%
2010 8.17% 7.66% 8.49%
2009 8.43% 7.84% 8.52%
2008 7.86% 6.87% 7.24%
2007 7.87% 7.69% 8.36%
2006 7.70% 8.69% 9.34%

Rent as a Fraction of Income

Using median household income data for Cook County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Cook County, median monthly gross rent as a fraction of median household income was 21.14% in 2017 according to the ACS.

Cook County Illinois Median Annual Rent as a Fraction of Median Household Income

2017 1 Year Change 3 Year Change
US 20.13% -0.30% -0.76%
Illinois 18.55% -0.15% -0.35%
Cook County IL 21.14% +0.20% -0.28%

Trends in Cook County IL Rent as a Fraction of Income

The fraction of median Cook County household income required to pay median monthly gross rent peaked in 2011 (relative to the 2005 series origin) at 21.87%. Since then it has fallen by 0.72% to 21.14%.

Fraction of Income towards Rent: Cook County IL, Illinois, US

Percent of median household income going towards median monthly gross rent in Cook County Illinois

Historical Data for Annual Rent as a Fraction of Income in Cook County Illinois

Date US Illinois Cook County IL
2017 20.13% 18.55% 21.14%
2016 20.43% 18.70% 20.94%
2015 20.63% 18.85% 21.19%
2014 20.89% 18.91% 21.42%
2013 20.78% 18.89% 21.29%
2012 20.65% 18.89% 21.57%
2011 20.70% 19.36% 21.87%
2010 20.50% 19.21% 21.38%
2009 20.12% 18.41% 20.53%
2008 19.00% 17.31% 19.35%
2007 18.66% 17.36% 19.45%
2006 18.90% 17.56% 19.53%

Renter Fraction in Cook County Illinois

You can calculate the renter fraction in Cook County in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Cook County as a fraction of total Cook County households. In 2017 43.56% of households were renters according to Census ACS data.

Cook County Fraction of Renters by Household Units

2017 1 Year Change 3 Year Change
US 36.13% -0.75% -0.77%
Illinois 33.82% -0.92% -0.69%
Cook County IL 43.56% -0.49% -0.23%

Trends in the Cook County IL Renter Fraction

The Cook County household renter fraction peaked in in 2015 at 44.34% and is now 0.78% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Cook County IL, Illinois, US

Fraction of renters in Cook County

History of Cook County Renter Fraction

Date US Illinois Cook County IL
2017 36.13% 33.82% 43.56%
2016 36.88% 34.74% 44.05%
2015 36.97% 34.72% 44.34%
2014 36.90% 34.51% 43.79%
2013 36.50% 34.06% 43.62%
2012 36.09% 33.40% 42.92%
2011 35.42% 32.65% 42.35%
2010 34.65% 32.27% 41.35%
2009 34.13% 32.00% 40.67%
2008 33.36% 30.73% 38.86%
2007 32.80% 29.94% 37.70%
2006 32.73% 30.12% 38.32%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.