$4,950 Per Month
- 4 Beds
- 2 Baths
- 1,450 Sq Ft
- House for Rent
7125 Simpson St, Morton Grove, IL 60053
7125 Simpson St, Morton Grove, IL 60053
Frequently Asked Questions
How much does it cost to rent a single-family home in Morton Grove, IL?
The median rent for a single-family home in Morton Grove, IL is $3,200 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while single-family homes and townhouses are currently more expensive.
How much do you need to make to afford rent in Morton Grove, IL?
To comfortably afford the median rent in Morton Grove, IL, a household needs to earn roughly $130,000 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 $3,250 per month in Morton Grove, IL, renters typically need to show $9,750 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 Morton Grove, IL?
In Morton Grove, IL, the price-to-rent ratio is 12.1, 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.
