Schaumburg, Illinois Housing Market Prices
Updated
Schaumburg 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 77% above the Illinois median$265,775
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Median rent 39% above the Illinois median$1,776
Housing Market Overview
| Metric | Schaumburg | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $265,775 | $149,936 | $248,835 |
| Price Trend (Annual %) | 5.0% | 2.5% | 7.5% |
| Median Gross Rent | $1,776 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 4.3% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Schaumburg is about 77% higher than in Illinois. Rent is about 39% 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 Schaumburg, up about 5.0% and 4.3% a year respectively. Home prices are changing faster.
Median rent in Schaumburg rose about 44.8% between 2015 and 2024, from $1,227 to $1,776. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Schaumburg.
Buying the median-priced home in Schaumburg costs roughly 12.5 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Schaumburg. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Schaumburg | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $265,775 | $149,936 | $248,835 |
| Median Household Income | $99,871 | $84,042 | $80,455 |
| Price-to-Income Ratio | 2.7 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Schaumburg rose about 47.1%, while median household income rose about 31.7% 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 | Schaumburg | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.3% | 61.9% | 58.5% |
| Rental Rate | 31.1% | 30.4% | 31.2% |
| Vacancy Rate | 4.6% | 7.7% | 10.2% |
| Median Tenure (years) | 14.0 | 16.0 | 15.0 |
| Median Year Moved In | 2012 | 2010 | 2011 |
Schaumburg has a homeownership rate of 64.3%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 4.6%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Schaumburg | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.54 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1979 | 1969 | 1978 |
| Median Number of Rooms | 5.3 | 5.6 | 5.5 |
The typical housing unit in Schaumburg was built around 1979. On average, 2.5 people live in a home with about 5.3 rooms, staying for about 14.0 years on average.
Schaumburg, IL Housing Compared With Nearby Cities
How Schaumburg, IL compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Schaumburg, IL | 78,574 | $265,775 #3/3 | $1,776 #1/3 | 67.4% #3/3 |
| Hoffman Estates, IL | 48,159 | $319,257 | $1,758 | 68.6% |
| Rolling Meadows, IL | 24,014 | $319,595 | $1,703 | 69.5% |
Frequently Asked Questions
Common questions about the housing market in Schaumburg, Illinois.
What is the median home price in Schaumburg, Illinois?
The median home price in Schaumburg, Illinois is $265,775, higher than the Illinois average of $149,936.
What is the average home price in Schaumburg, Illinois?
The typical home price in Schaumburg, Illinois, reported as the median sale price, is $265,775. 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 Schaumburg, Illinois?
The median gross rent in Schaumburg, Illinois is $1,776 per month, higher than the Illinois average of $1,274.
What was the median gross rent in Schaumburg in 2020?
In 2020, the median gross rent in Schaumburg, Illinois was $1,446 per month.
What is the price-to-rent ratio in Schaumburg, Illinois?
The price-to-rent ratio in Schaumburg, Illinois is about 12.5, meaning it would take roughly 12.5 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Schaumburg.
Are home prices or rent rising faster in Schaumburg, Illinois?
Both home prices and rent are rising in Schaumburg, up about 5.0% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Schaumburg, Illinois?
64.3% of households in Schaumburg, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Schaumburg, Illinois?
The housing vacancy rate in Schaumburg, Illinois is 4.6%, lower than the Illinois average of 7.7%.
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