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Studio Apartment for Rent in Hanover Park, IL

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    $2,023 Per Month

    • Studio
    • 1 Bath
    • 300 Sq Ft
    • Furnished Studio-Chicago - Hanover Park

    1075 E Lake St, Hanover Park, IL 60133

    Enjoy a fully furnished studio suite in our hotel at an affordable rate with free wi-fi, free utilities and free premium cable. Each studio suite has a full kitchen with full-size refrigerator, stovetop and microwave, and has a flexible workspace and plenty of storage. All our hotels are pet-friendly and have on-site guest laundry available. Plus, there are no long-term commitments and you can

    1075 E Lake St, Hanover Park, IL 60133

Why Live in Hanover Park

Hanover Park, IL, a suburb of Chicago with a population of nearly 40,000, offers affordable single-family homes in quiet neighborhoods. The community is known for its strong sense of belonging. Local dining options include popular spots like The Original Nana’s Hot Dogs and Brandy’s Gyros, while Briana’s Pancake House Restaurant is a favorite for breakfast. Residents can shop for groceries at Tony’s Fresh Market or the nearby Walmart Supercenter, just 1.3 miles away. Hanover Park hosts numerous community events, such as monthly summer movie nights and concerts, and an annual Tree Lighting Ceremony in December. The area features ranch and split-level homes, with tree-lined streets providing seasonal color. Bartlett High School, part of School District U-64, is highly rated and offers a variety of sports programs. Green spaces like Hanover Park District and Ahlstrand Park provide ample recreational opportunities, including walking paths, a lake, and athletic fields. Public transportation is accessible, with the Metra station in the center of town offering a convenient commute to downtown Chicago, 33 miles away, and Chicago O’Hare International Airport, 25 miles from Hanover Park. While the community enjoys many amenities, it’s important to note that the Hanover Park Metropolitan Water Reclamation plant can produce noticeable odors on operation days.

Frequently Asked Questions

How much does it cost to rent a home in Hanover Park, IL?
The median rent for a home in Hanover Park, IL is $2,400 per month, though prices vary by neighborhood, size, and property type. As of August 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Hanover Park, IL?
To comfortably afford the median rent in Hanover Park, IL, a household needs to earn roughly $96,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,400 per month in Hanover Park, IL, renters typically need to show $7,200 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Hanover Park, IL?
In Hanover Park, IL, the price-to-rent ratio is 11.5, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$2,400
Median Single Family Home Rent
$2,500
Median Townhouse Rent
$2,350
Median Condo Rent
$2,200
How to Rent a Home