$2,650 Per Month
- 3 Beds
- 2.5 Baths
- 1,847 Sq Ft
- Townhouse for Rent
1333 Cape Cod Ln, Pingree Grove, IL 60140
1333 Cape Cod Ln, Pingree Grove, IL 60140
Frequently Asked Questions
How much does it cost to rent a home in Pingree Grove, IL?
The median rent for a home in Pingree Grove, IL is $2,500 per month, though prices vary by neighborhood, size, and property type. As of June 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 Pingree Grove, IL?
To comfortably afford the median rent in Pingree Grove, IL, a household needs to earn roughly $100,000 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 $2,500 per month in Pingree Grove, IL, renters typically need to show $7,500 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 Pingree Grove, IL?
In Pingree Grove, IL, the price-to-rent ratio is 12.0, 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.
What neighborhoods in Pingree Grove, IL are best for renting a home?
The best neighborhood for renting in Pingree Grove, IL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Far West Elgin, Far West Algonquin, Northeast Elgin and Willow Lake Estates, each with its own character and price range.
