Cost of Living and Housing in Mount Prospect, Illinois

Mount Prospect has about 55,472 residents. Median gross rent is $1,502 per month and median household income is $101,720.

Comparison scope: “dataset median” below means the median among 1,211 cities across 10 states in this dataset. It is not presented as a nationwide Census median. The figures use 2020-2024 ACS 5-Year estimates and may lag current listings.

Median Gross Rent $1,502/mo 9% below the dataset median

Median Home Value $397,400 6% above the dataset median

Median Household Income $101,720 21% above the dataset median

Owner-Occupied Homes 69% Share of occupied housing units

Rent-to-Income Baseline 18% Annual median rent ÷ household income

Home Value-to-Income 3.9x Median value ÷ household income

How Mount Prospect compares

Rent is 9% below the dataset median, while household income is 21% above the dataset median. Within Illinois, Mount Prospect ranks #67 from lowest to highest rent and #47 from highest to lowest household income among 123 cities in this dataset.

The rent-to-income figure compares two citywide medians. It is useful for broad comparison, but it is not an individual household budget or a measure of renter cost burden.

Similar-size cities in Illinois

Frequently asked questions

What is the median rent in Mount Prospect?

Median gross rent is $1,502 per month in the 2020-2024 ACS 5-Year estimates.

What is the median home value in Mount Prospect?

The median value of owner-occupied homes is $397,400 in the 2020-2024 ACS 5-Year estimates.

What is the median household income?

Median household income in Mount Prospect is $101,720 per year.

Source: U.S. Census Bureau, 2020-2024 ACS 5-Year Estimates. Local database refreshed 2026-07-11.