Rent to own Homes in Palatine, IL

Located in Cook County, Illinois, Palatine is a suburb of Chicago. European-American George Ela first settled the area and built a log cabin called Deer Grove. Ela was at the forefront of pioneers who migrated to Northern Illinois after the Black Hawk War ended. Palatine was founded in 1855, and the community developed around a railway station on the newly opened Chicago and Northwestern Railway. The village was surveyed and designed by Joel Wood, who was the official founder of Palatine. Eleven years after its founding, Palatine incorporated as a village.

Palatine, IL is a great place for affordable rent-to-own homes! With a median household income of over $83,495 and a median rent of $1,236, the Palatine, IL rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Palatine, IL. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.

Check out Palatine, IL rent to own homes for sale, which may include auction properties, for sale by owner, and more.
Showing 1 - 44 of 176
812 N RIVER RD #2A
Rent To Own
 
Townhouse/Condo
Mount Prospect, IL 60056
2
1
1000 ft2
1983
1200 WESTFIELD WAY
Rent To Own
Town And Country
Single Family Home
Mundelein, IL 60060
4
3
3379 ft2
1997
1609 EDINBURGH DR #117-5
Rent To Own
Tri Village
Townhouse/Condo
Bartlett, IL 60103
3
3
1826 ft2
2005
1 of 14 8809 West Golf Road
Rent To Own
 
Multifamily (2 - 4 Units)
Niles, IL 60714
2
2
1600 ft2
1976
5537 N CANFIELD AVE
Rent To Own
Norwood Park
Single Family Home
Chicago, IL 60656
2
2
1284 ft2
1946
1408 KENMORE AVE
Rent To Own
Round Lake Beach Ridgewood
Single Family Home
Round Lake Beach, IL 60073
3
1
968 ft2
1955
1 of 22 2S110 COLONIAL LN
Rent To Own
 
Single Family Home
Lombard, IL 60148
4
2
1944 ft2
1965
5913 MONROE ST
Rent To Own
Morton Grove
Single Family Home
Morton Grove, IL 60053
3
2
1830 ft2
1960
6704 W FOREST PRESERVE DR
Rent To Own
Harwood Heights
Single Family Home
Harwood Heights, IL 60706
3
3
1326 ft2
1998
Hot
2008 TYLER TRL
Rent To Own
Mchenry
Single Family Home
Mchenry, IL 60051
3
3
1981 ft2
2006
Hot
2015 ROLLING RIDGE LN
Rent To Own
Lindenhurst
Single Family Home
Lindenhurst, IL 60046
2
2
1475 ft2
1961
260 GREGORY M SEARS DR
Rent To Own
 
Single Family Home
Gilberts, IL 60136
4
3
1801 ft2
2003
838 S SCOVILLE AVE #1
Rent To Own
 
Townhouse/Condo
Oak Park, IL 60304
1
1
800 ft2
1923
7343 Country Creek Way UNIT 4
Rent To Own
 
Single Family Home
Downers Grove, IL 60516
2
2
972 ft2
1975
7350 N RIDGE BLVD #22C
Rent To Own
West Rogers Park
Townhouse/Condo
Chicago, IL 60645
3
2
0 ft2
1930
7403 N HOYNE AVE #1
Rent To Own
Rogers Park
Townhouse/Condo
Chicago, IL 60645
2
2
800 ft2
1930
1 of 5 1517 W Jonquil Ter
Rent To Own
 
Multifamily (2 - 4 Units)
Chicago, IL 60626
2
1
1100 ft2
2000
1748 W Rascher Ave
Rent To Own
Edgewater
Townhouse/Condo
Chicago, IL 60640
2
1
0 ft2
1913
6334 N SHERIDAN RD #3C
Rent To Own
Edgewater
Townhouse/Condo
Chicago, IL 60660
1
1
800 ft2
1928
12A Kingery Quarter Rd #104
Rent To Own
 
Single Family Home
Willowbrook, IL 60527
1
1
800 ft2
1981
4636 N Racine Ave APT 2, Chicago, IL 60640
Rent To Own
Uptown
Single Family Home
Chicago, IL 60640
2
1
1200 ft2
1906
2906 W WILCOX ST
Rent To Own
East Garfield Park
Townhouse/Condo
Chicago, IL 60612
9
3
2832 ft2
1905
3648 WHITE EAGLE DR
Rent To Own
White Eagle Club
Single Family Home
Naperville, IL 60564
5
3
2896 ft2
1996
2745 N HAMPDEN CT #2E
Rent To Own
Lincoln Park
Townhouse/Condo
Chicago, IL 60614
3
1
1100 ft2
1916
2301 SUMMERLIN DR
Rent To Own
 
Single Family Home
Aurora, IL 60503
2
2
0 ft2
1355 N SANDBURG TER #407D
Rent To Own
Near North Side
Townhouse/Condo
Chicago, IL 60610
1
1
0 ft2
1964
240 E ILLINOIS ST #1708
Rent To Own
Near North Side
Townhouse/Condo
Chicago, IL 60611
2
2
1293 ft2
2005
222 N COLUMBUS DR #3203
Rent To Own
The Loop
Townhouse/Condo
Chicago, IL 60601
2
2
1225 ft2
2001
505 N LAKE SHORE DR #6601
Rent To Own
Near North Side
Townhouse/Condo
Chicago, IL 60611
3
4
2975 ft2
1970
84 PUEBLO RD
Rent To Own
Boulder Hill
Single Family Home
Montgomery, IL 60538
3
1
988 ft2
1960
1550 S INDIANA AVE #412
Rent To Own
South Loop
Townhouse/Condo
Chicago, IL 60605
2
2
1100 ft2
1905
8609 LAKESHORE DR
Rent To Own
 
Single Family Home
Pleasant Prairie, WI 53158
3
3
2027 ft2
2017
Hot
636 PEARCES FRD
Rent To Own
 
Single Family Home
Oswego, IL 60543
5
4
2800 ft2
1988
6328 49TH AVE
Rent To Own
Forest Park
Single Family Home
Kenosha, WI 53142
3
1
1025 ft2
1953
5856 S PRAIRIE AVE #3
Rent To Own
Washington Park
Townhouse/Condo
Chicago, IL 60637
3
2
1250 ft2
2004
5739 S CALUMET AVE #3N
Rent To Own
Washington Park
Townhouse/Condo
Chicago, IL 60637
3
2
1400 ft2
1901
7115 S SAINT LAWRENCE AVE
Rent To Own
Park Manor
Townhouse/Condo
Chicago, IL 60619
6
4
2773 ft2
1890
1 of 75 5555 S Everett Ave
Rent To Own
 
Single Family Home
Chicago, IL 60637
4
3
2400 ft2
1924
Hot
9519 S FOREST AVE
Rent To Own
Roseland
Single Family Home
Chicago, IL 60628
3
2
1100 ft2
1960
956 W 115TH PL
Rent To Own
Morgan Park
Townhouse/Condo
Chicago, IL 60643
3
2
731 ft2
1966
3017 E 78th St APT 2B
Rent To Own
South Shore
Single Family Home
Chicago, IL 60649
1
1
800 ft2
1924
1 of 38 8724 S ESSEX AVE
Rent To Own
South Chicago
Single Family Home
Chicago, IL 60617
5
3
1987 ft2
1924
1 of 2 7620 S CALUMET AVE
Rent To Own
Chatham
Single Family Home
Chicago, IL 60619
4
4
1386 ft2
1921
New
22316 121ST ST
Rent to Own Eligible
Lake Shangri La
Single Family Home
Bristol, WI 53104
4
2
1238 ft2
1988
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Buying a Home in Palatine, IL

Palatine, IL is seeing rapid growth and Palatine, IL's' housing market remains not optimal with an average home price that is 32% above the 2024 national average. Palatine, IL is part of Cook county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Cook is 1.38% which is above the national average, which is 0.99%.

Median Home Price in Palatine, IL

Median Rent in Palatine, IL

Rent to own homes offer low monthly payments and flexible terms.

Top Reasons to Live in Palatine IL

Palatine Housing Numbers As of 2009, the village has 26,217 residences. Owners live in 17,686 units, and renters occupy 7,867 homes. There are more than 300 rent to own homes in the inventory for Palatine, Illinois. Renters paid a median contract rent of $929 in 2009. The median value of a home in Palatine in 2009 was $304,400. Single-family detached homes had a median value of $417,053, while attached homes had a median value that was far less, at $242,687.

Palatine Weather and Climate Lake Michigan influences the weather and climate in Palatine. On average, the temperature in Palatine is 57.5 F. January is the coldest month, with temperatures averaging at 33.2 F and reaching lows of minus 1 F. August is the warmest month, with an average temperature of 80.4 F, but temperatures can reach as high as the high 90s to low hundreds. Precipitation is about 45 inches per year with August being the wettest month, delivering 13.84 inches of rain on average. The area is also subject to tornadoes.

Palatine School Systems The three districts that govern the schools in Palatine, Illinois, are NW Suburban Special Education Organization, Palatine CCSD 15 and Township HSD 211.

Palatine Neighborhoods Palatine is a very diverse area, with large homes on the southwest side of the village that are a stark contrast to the much more modest housing on the northeast side of town. Here are some neighborhoods to check out: