Mount Prospect, Illinois.
Typical home $449,386 (+7.6% in a year), asking rent $1,835 (+1.9%). Chicago-Naperville-Elgin, IL-IN-WI metro.
to buy the typical home at today's mortgage rate — +$1,275 (+118%) since Jan 2020.
- 1 year
- Up $31,911 +8%
- $417,474$449,386 since Sep 2025
- 5 years
- Up $116,997 +35%
- $332,389$449,386 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Mount Prospect$2,359
- Illinois$1,553
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 11 years.
Typical home values in Mount Prospect, IL rose 7.6% over the past year — faster than the nation's +1.2%.
Asking rents in Mount Prospect, IL rose 1.9% over the past year — slower than the nation's +2.7%.
Owning the typical home in Mount Prospect runs $1,719/mo more than renting one — the widest that gap has been in this data.
That is $3,554 a month against $1,835 rent: a $2,359 mortgage payment, plus $714 property tax and $481 insurance & upkeep.
Owning vs renting — Mount Prospect
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$3,554
- Renting$1,835
- Mortgage only$2,359
Property tax · $714/mo 1.91% of value a year — the ACS 2020-2024 median bill over the median home value for Cook County, IL
Insurance & upkeep · $481/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Mount Prospect, Cook County, Illinois
Mount Prospect is a village of 56,852 people in Cook County. Half its households earn more than $101,720 a year and half less, against $83,498 across Cook County; 7% of its people live below the poverty line. 69% of its homes are lived in by their owners and 31% are rented. Unemployment in Mount Prospect was 4.5% in August 2026, and Cook County had 1.1% more jobs in 2025 than the year before. The most residents work in schools and health care, then professional services.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Mount Prospect is a village in Cook County where most homes are lived in by their owners, and the population is a little older than across much of the country. Household incomes run well above the county's, and fewer people live below the poverty line than you might expect for a place so close to Chicago. A good share of adults hold a four-year degree, and winters are cold, with January the coldest month, while summers turn warm, with July the warmest.
Work. Residents work mostly in schools, hospitals and social care, followed by professional and business services, manufacturing and shops. Among the largest workplaces in the village are Caremark, the Northwest Suburban Special Education Organization schools and Johnson Controls. Commutes are fairly typical for a Chicago suburb, and a notable number of people work from home.
Things to do. The McDonald's #1 Store Museum, a museum in or beside town, is the closest stop on the list. A longer drive brings you to downtown Chicago, where the Art Institute of Chicago and the Field Museum of Natural History are among the best known museums, and Millennium Park is a garden with a long history of public gatherings.
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- 21,600households
- 49%of adults have a degree
- 7%below the poverty line
- 26 mintypical commute
- 19%work from home
What residents work in
Employed residents by industry, from the Census survey. Cook County had 2,594,810 jobs in 2025, 1.1% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 32° and lows near 18°; warmest in July, with highs near 84° and lows near 66°. About 32 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Chicago Palwaukee Airport weather station, 4 miles away (NOAA).
Largest workplaces in Mount Prospect
- CVS Pharmacy, Inc.Electronic shopping and mail-order houses532
- NW Suburban Spec Educ Org SchoolsSchool district445FTE
- Johnson ControlsPlumbing heating ac333
- Mount Prospect Park DistrictLocal government parks and recreation329
- Cummins-Allison/Crane Payment Innovations, Mount ProspectMail handling machinery, post office-type, manufacturing299
- WalmartWarehouse clubs and supercenters265
- Mount Prospect SD 57School district260FTE
- Ametek, IncPrinted circuit assembly manufacturing247
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 41 workplaces with 20 or more staff, 4,449 people in all. School districts come from the Common Core of Data (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Cold wavesVery high
- Heat wavesRelatively high
- TornadoesRelatively high
- Inland floodingRelatively high
- Winter weatherRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Mount Prospect’s census tracts, against the rest of the country; all of them together, relatively high. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Cook County and the Chicago-Naperville-Elgin, IL-IN-WI metro.
Mount Prospect home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Mount Prospect$449,386
- Illinois$295,943
- United States$366,157
Sellers are cutting prices on about 1 in 3 Mount Prospect listings, and the typical home goes pending in 16 days — the market is cooling.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Mount Prospect28.73%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Mount Prospect16
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Mount Prospect127
New listings per month
Sellers arriving at the market.
- Mount Prospect56
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Mount Prospect$405,602
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Mount Prospect101.36%
Zip codes with a Mount Prospect address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Mount Prospect — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.