States › Illinois › Hoffman Estates

Is Hoffman Estates, IL expensive to live in?

CheapRent takes 19 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,8697% higher than U.S. average
💵 Families earn per year (2026)$115,190about $9,599/month · 32% higher than U.S. average
🔑 House price$351,9006% higher than U.S. average

Rent is higher than in 61% of U.S. cities. A typical house costs about 3.1 years of household income.

How much money do I need?

To rent here comfortably, you should earn about $74,760 a year. That is $36 an hour at a full-time job.

Is rent cheaper than other Illinois cities?

No. Rent here is more expensive than in most of Illinois. It is number 243 of 334 cities from cheapest to most expensive.

Hoffman Estates
$1,869
Downers Grove
$1,763
Oak Park
$1,917
Wheaton
$2,237
Normal
$1,211
Tinley Park
$1,518
Glenview
$2,414

How much do households earn in Hoffman Estates?

Under $25k
5.9%
$25k–50k
17.0%
$50k–100k
30.7%
$100k–150k
24.9%
$150k+
18.5%

Share of households by yearly income. 43.4% of households earn $100,000 or more.

Rent by apartment size in Hoffman Estates

SizeHoffman EstatesU.S. average
Studio$1,904$1,338
1 bedroom$1,350$1,324
2 bedrooms$1,860$1,509
3 bedrooms$2,542$1,698
4 bedrooms$3,266$2,098

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Hoffman Estates overall?

Everyday prices in Illinois overall are same as the U.S. average (index 100.0, U.S. = 100).

Housing
94
Goods (food, clothes…)
104
Utilities
85
Other services
100
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Hoffman Estates, so the Illinois figure is shown.

Taxes and bills in Hoffman Estates

🏛️ Property tax$8,096a year · 2.30% of home value · U.S. $3,119
⚡ Electric bill$97a month (typical) · U.S. $156

Life in Hoffman Estates

Commute to work28.5 minU.S.: 26.4 min
College degree48.5%U.S.: 35.7%
Own their home74.2%U.S.: 65.2%
Below poverty line7.1%U.S.: 12.5%
Unemployment4.2%U.S.: 5.2%

Is it cheaper to rent or buy in Hoffman Estates?

Renting is cheaper right now: about $573 a month less.

Renting
$1,869
Owning
$2,442

Owning assumes a typical $351,900 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $35,190 for the down payment.

Frequently asked questions

What is the average rent in Hoffman Estates, IL?

Renting in Hoffman Estates costs a median of about $1,869 a month in 2026, including utilities. The Illinois median is $1,517.

How much do I need to make to live in Hoffman Estates?

To keep rent under 30% of income, you need about $74,760 a year, or $36 an hour at a full-time job.

Is Hoffman Estates cheap or expensive?

Hoffman Estates is rated Cheap: rent takes 19.5% of the typical household income of $115,190. It ranks 243rd cheapest of 334 Illinois cities we track.

How much are property taxes in Hoffman Estates?

The median homeowner in Hoffman Estates pays $8,096 a year in property taxes, about 2.30% of the median home value.

Is Hoffman Estates more expensive than the national average?

Overall prices in Illinois are same as the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Hoffman Estates?

The median home value in Hoffman Estates is $351,900, about 3.1 times the typical yearly household income.

51,175 people live in Hoffman Estates. Numbers are typical (middle) values.