$1,700 Per Month
- 1 Bed
- 1 Bath
- Condo for Rent
1104 Mercury Dr Unit 151B, Schaumburg, IL 60193
1104 Mercury Dr Unit 151B, Schaumburg, IL 60193
Frequently Asked Questions
How much does it cost to rent a condo in Schaumburg, IL?
The median rent for a condo in Schaumburg, IL is $2,200 per month, though prices vary by neighborhood, size, and property type. As of June 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 Schaumburg, IL?
To comfortably afford the median rent in Schaumburg, IL, a household needs to earn roughly $92,000 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 $2,300 per month in Schaumburg, IL, renters typically need to show $6,900 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 Schaumburg, IL?
In Schaumburg, IL, the price-to-rent ratio is 11.9, 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 Schaumburg, IL are best for renting a condo?
The best neighborhood for renting in Schaumburg, IL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a condo include South Schaumburg, East Schaumburg, South Hoffman Estates, Plum Grove Village and Elk Grove Village East, each with its own character and price range.
