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Studio Apartment for Rent in Riverwoods, IL

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    $2,249 Per Month

    • Studio
    • 1 Bath
    • 300 Sq Ft
    • Furnished Studio-Chicago - Buffalo Grove - Deerfield

    1525 Busch Pkwy, Buffalo Grove, IL 60089

    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

    Furnished Studio-Chicago - Buffalo Grove - Deerfield

    (224) 313-4372

    1525 Busch Pkwy, Buffalo Grove, IL 60089

Why Live in Riverwoods

Riverwoods, IL, is a unique community situated about 30 miles north of Downtown Chicago, offering a serene, forested environment amidst the typical suburban landscape. Homes here are nestled within dense woods, with driveways and cul-de-sacs branching off quiet, single-lane avenues. The area features a mix of modest midcentury ranch-style homes and luxury builds with diverse architectural styles, including French-style chateaus and modern farmhouses. The relaxed zoning policies allow for creative property designs, contributing to the distinctive character of Riverwoods. The Deerfield School District 109 serves the community, with highly rated schools such as Wilmot Elementary School, Caruso Middle School, and Deerfield High School, which offer robust academic programs and extracurricular activities. Residents enjoy proximity to nature with the Des Plaines River Trail and Edward L. Ryerson Conservation Area providing ample opportunities for hiking and biking. The Ravinia Green Country Club offers exclusive amenities like a state-of-the-art fitness center and a golf course. While Riverwoods lacks local programming, essential services and casual dining options are just a short drive away in Deerfield and Buffalo Grove. Commuters benefit from the nearby Deerfield Metra station and easy access to Interstate 94, making travel to Downtown Chicago and Chicago O’Hare International Airport convenient. Highland Park Hospital, located 6 miles east, provides emergency medical services. Riverwoods is safer than the national average, adding to its appeal as a tranquil yet accessible place to live.

Frequently Asked Questions

How much does it cost to rent a home in Riverwoods, IL?
The median rent for a home in Riverwoods, IL is $8,000 per month, though prices vary by neighborhood, size, and property type. As of June 2026, single-family homes tend to be the most affordable option.
How much do you need to make to afford rent in Riverwoods, IL?
To comfortably afford the median rent in Riverwoods, IL, a household needs to earn roughly $320,000 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 $8,000 per month in Riverwoods, IL, renters typically need to show $24,000 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 Riverwoods, IL?
In Riverwoods, IL, the price-to-rent ratio is 10.2, 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 Riverwoods, IL are best for renting a home?
The best neighborhood for renting in Riverwoods, IL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Edgewater, River North and East Highland Park, each with its own character and price range.

Rental Trends in Riverwoods, IL

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$8,000
Median Single Family Home Rent
$6,400
How to Rent a Home