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Studio Apartments for Rent in Wheaton, IL

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    Starting at $2,175 Per Month

    • Studio - 2 Beds

    220 W Liberty Dr, Wheaton, IL 60187

    The Faywell is a brand-new luxury apartment community in Downtown Wheaton, IL, offering studio, one-, and two-bedroom apartments plus spacious two- and three-bedroom townhome style residences. Enjoy modern finishes, open-concept layouts, resort-style amenities, a state-of-the-art fitness center, coworking spaces, outdoor gathering areas, a skydeck terrace, and more. Located steps from downtown

    The Faywell

    220 W Liberty Dr, Wheaton, IL 60187

Why Live in Wheaton

Cantigny Park's sprawling 500 acres offers residents extensive gardens, museums, and walking trails, while the Illinois Prairie Path provides miles of scenic routes for cycling and walking through Wheaton. The historic downtown district features unique local shops, the restored Wheaton Grand Theater, and a seasonal French Market offering European-style shopping experiences. Wheaton College adds intellectual energy to the community through cultural events, performances, and attractions like the Billy Graham Center Museum and Marion E. Wade Center, which houses collections from C.S. Lewis and J.R.R. Tolkien.

The Wheaton housing market offers diverse options across distinct neighborhoods. The median sale price in Wheaton is $452,800, with single family homes at $505,000 and townhomes at $369,300. Condos start at a median price of $193,400 for one bedroom units and $245,000 for two bedrooms. Downtown Wheaton commands higher prices with a median of $589,900 for single family homes, while North Danada offers more affordable options at $351,300. Luxury homes in the Cantigny area reach a median of $975,000.

Property taxes in Wheaton reflect DuPage County's 2.09% effective rate, matching neighboring communities like Glen Ellyn and Naperville. Illinois adds a 4.95% state income tax and 8.89% combined sales tax. The city offers excellent commuting options via the Metra Union Pacific West Line, with a 50-minute train ride to downtown Chicago. Major highways I-355 and I-88 provide additional access. Education options include highly rated public schools like Wheaton North High School and Wheaton Warrenville South High School, both rated A plus by Niche, alongside private institutions such as St. Francis High School.

Frequently Asked Questions

How much does it cost to rent a home in Wheaton, IL?
The median rent for a home in Wheaton, IL is $2,349 per month, though prices vary by neighborhood, size, and property type. As of September 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 Wheaton, IL?
To comfortably afford the median rent in Wheaton, IL, a household needs to earn roughly $93,960 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 $2,349 per month in Wheaton, IL, renters typically need to show $7,047 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 Wheaton, IL?
In Wheaton, IL, the price-to-rent ratio is 17.6, 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
$2,349
Median Single Family Home Rent
$2,900
Median Townhouse Rent
$1,995
Median Condo Rent
$1,949
How to Rent a Home