Rolling Meadows, Illinois Housing Market Prices
Updated
Rolling Meadows Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 113% above the Illinois median$319,595
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Median rent 34% above the Illinois median$1,703
Housing Market Overview
| Metric | Rolling Meadows | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $319,595 | $149,936 | $248,835 |
| Price Trend (Annual %) | 19.3% | 2.5% | 7.5% |
| Median Gross Rent | $1,703 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 4.1% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Rolling Meadows is about 113% higher than in Illinois. Rent is about 34% higher than the Illinois average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Rolling Meadows, up about 19.3% and 4.1% a year respectively. Home prices are changing faster.
Median rent in Rolling Meadows rose about 42.9% between 2015 and 2024, from $1,192 to $1,703. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 3.4 yearly household incomes in Rolling Meadows.
Buying the median-priced home in Rolling Meadows costs roughly 15.6 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Rolling Meadows. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Rolling Meadows | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $319,595 | $149,936 | $248,835 |
| Median Household Income | $95,351 | $84,042 | $80,455 |
| Price-to-Income Ratio | 3.4 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Rolling Meadows rose about 85.9%, while median household income rose about 57.3% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Rolling Meadows | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.0% | 61.9% | 58.5% |
| Rental Rate | 29.0% | 30.4% | 31.2% |
| Vacancy Rate | 4.9% | 7.7% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Rolling Meadows has a homeownership rate of 66.0%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 4.9%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Rolling Meadows | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1970 | 1969 | 1978 |
| Median Number of Rooms | 5.1 | 5.6 | 5.5 |
The typical housing unit in Rolling Meadows was built around 1970. On average, 2.4 people live in a home with about 5.1 rooms, staying for about 15.0 years on average.
Rolling Meadows, IL Housing Compared With Nearby Cities
Rolling Meadows, IL is the smallest of the 4 cities compared here, 24,014 residents against a local median of 77,229. The measure that sets Rolling Meadows, IL apart most is median home price: $319,595, 20% above the local median of $265,775.
The cities themselves spread $147,299 on median home price, so Rolling Meadows, IL sits at one end of an already wide local range rather than apart from it. Rolling Meadows, IL has the 2nd highest median home price of the 4 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Rolling Meadows, IL | 24,014 | $319,595 #2/4 | $1,703 #2/4 | 69.5% #3/4 |
| Palatine, IL | 58,624 | $387,637 | $1,512 | 69.9% |
| Arlington Heights, IL | 77,229 | $240,337 | $1,691 | 71.8% |
| Schaumburg, IL | 78,574 | $265,775 | $1,776 | 67.4% |
Frequently Asked Questions
Common questions about the housing market in Rolling Meadows, Illinois.
What is the median home price in Rolling Meadows, Illinois?
The median home price in Rolling Meadows, Illinois is $319,595, higher than the Illinois average of $149,936.
What is the average home price in Rolling Meadows, Illinois?
The typical home price in Rolling Meadows, Illinois, reported as the median sale price, is $319,595. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Rolling Meadows, Illinois?
The median gross rent in Rolling Meadows, Illinois is $1,703 per month, higher than the Illinois average of $1,274.
What was the median gross rent in Rolling Meadows in 2020?
In 2020, the median gross rent in Rolling Meadows, Illinois was $1,437 per month.
What is the price-to-rent ratio in Rolling Meadows, Illinois?
The price-to-rent ratio in Rolling Meadows, Illinois is about 15.6, meaning it would take roughly 15.6 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Rolling Meadows.
Are home prices or rent rising faster in Rolling Meadows, Illinois?
Both home prices and rent are rising in Rolling Meadows, up about 19.3% and 4.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Rolling Meadows, Illinois?
66.0% of households in Rolling Meadows, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Rolling Meadows, Illinois?
The housing vacancy rate in Rolling Meadows, Illinois is 4.9%, lower than the Illinois average of 7.7%.
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