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Apartments for Rent in Mount Prospect, IL
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Frequently Asked Questions

When were prices and availability in Mount Prospect, IL last updated?

Prices and availability in Mount Prospect, IL were last updated on 15 Oct 2021.

What are the best apartments in Mount Prospect, IL?

The best apartments in Mount Prospect, IL are: Mount Prospect Greens, 10 North Main, Maple Street Lofts and Forest Cove Apartments.

What is the average rent in Mount Prospect, IL?

The average rent in Mount Prospect, IL is $1,351. Start your search for apartments in Mount Prospect, IL now.

What is the price range for a studio apartment in Mount Prospect, IL?

The price range for a studio apartment in Mount Prospect, IL is between $1,650 and $2,476. View all studio apartments in Mount Prospect, IL.

What is the price range for a 1-bedroom apartment in Mount Prospect, IL?

The price range for a 1-bedroom apartment in Mount Prospect, IL is between $1,092 and $2,476. Browse all available 1-bedroom apartments in Mount Prospect, IL now.

What is the price range for a 2-bedroom apartment in Mount Prospect, IL?

The price range for a 2-bedroom apartment in Mount Prospect, IL is between $1,240 and $2,627. Browse and find a 2-bedroom apartment in Mount Prospect, IL.

What is the price range for a 3-bedroom apartment in Mount Prospect, IL?

The price range for a 3-bedroom apartment in Mount Prospect, IL is between $1,699 and $2,476. Browse all available 3-bedroom apartments in Mount Prospect, IL.

Renter’s Guide to Mount Prospect, IL

Mount Prospect is a village situated in Cook County, IL, and a small suburb of Chicago. This small city is located close to numerous woodlands, and a short drive away from Lake Michigan, making it a good spot for outdoor enthusiasts. Downtown Chicago is also close by, offering the best of both worlds.

Mount Prospect has a population of 54,593, and an area of just over 10 sq. miles, making this one of the smallest cities in the Chicago Metropolitan area. It’s only marginally smaller than the neighboring cities of Arlington Heights and Des Plaines and has a slightly higher than average population density. Compared to Chicago, it’s about 50 times smaller, lending it more of a village feel than a city.

Downtown Chicago is about 23 miles southeast of Mount Prospect, with journey times along the nearby IS 90 taking between 30 and 40 minutes in good traffic. Proximity to numerous freeways make travel in any direction fairly easy. Milwaukee is around 76 miles north of Mount Prospect, for example, and can typically be reached within an hour and a half.

Summer in Mount Prospect is described as warm and humid, and July, June, and August are the warmest months, with average highs of 84°F in June. Winters are cold and snowy, with January seeing the lowest temperatures of 14°F on average. The city sees an average of 36 inches of rain throughout the year, with summer months typically being the wettest. An additional 36 inches of snowfall per year is also common.

Mount Prospect, IL Demographics

  • Total Population54,604
  • Female 26,944
    Male 27,660
  • Median Age40.4

Cost of Living in Mount Prospect, IL

Mount Prospect enjoys a direct rail line to downtown Chicago, operated by METRA. The Union Pacific Northwest line takes passengers southeast to Chicago, or northwest to Harvard. A one-way ticket to Chicago costs $6.25, a 10-ride pass $59.50, and a monthly pass $181.25. PACE provides numerous local bus routes throughout Mount Prospect, with local fares costing $2.25, or $60 for a local, 30-day pass. Local taxi services generally start at $3.25, with an additional $2.50 per mile, and those with private vehicles can expect to pay $2.62 per gallon of gasoline.

If you plan to eat out, you can expect to pay around $15 for a meal in an inexpensive restaurant. A 3-course meal for 2 in a mid-range restaurant will typically cost around $50, while a pint of draft beer should be around $4. A regular cappuccino will generally cost no more than $4.

For a 915 sq. ft apartment, you can expect to pay around $168 per month for basic utilities. This will typically cover heating, cooling, water, electricity, and garbage disposal. An internet connection will normally be an additional $65 per month.

Average Rent in Mount Prospect, IL

  • Mount Prospect, IL Average Rental Price, October 2021 $1,351 /mo

Mount Prospect, IL Apartment Rent Ranges

Mount Prospect, IL Rent Trends

Average Rent Jul / 2018 Nov / 2018 Mar / 2019 Jul / 2019 Nov / 2019 Mar / 2020 Jul / 2020 Nov / 2020 Mar / 2021 Oct / 2021
Mount Prospect, IL $1,207 $1,224 $1,196 $1,244 $1,230 $1,261 $1,220 $1,224 $1,261 $1,351
National $1,347 $1,356 $1,361 $1,393 $1,400 $1,402 $1,393 $1,397 $1,485 $1,510

Living in Mount Prospect, IL

With good school systems, low crime rates, and proximity to both natural and urban areas, there’s a lot to love about Mount Prospect. Residential neighborhoods are spacious and well-kept, and while there are some industrial areas, these are mostly out of sight. The historic center is kept clean and tidy, and it offers a mix of architectural styles and tree lined streets.

The village does begin to show its age however, as some residents find the streets are too narrow, or under constant construction, which can cause delays and difficulties. Younger adults may find that there’s a certain lack of nightlife, however, downtown Chicago, or other larger cities are within reach. Arguably the largest concern for several residents is that the weather is not very comfortable, and it can take a while to acclimatize to the muggy, rainy summers, and frigid winters.

Things to do in Mount Prospect, IL

Just outside of Mount Prospect, nature lovers can enjoy a number of woodlands and nature reserves. The Ned Brown Preserve (Busse Woods) is just outside of town and offers hiking and cycling trails through a lakeside forest, as well as picnic groves, boat rentals, and the opportunity to witness elk and other stunning wildlife. Within the city, there are a number of parks to enjoy, such as Meadows Park, which features a local swimming pool, and Sunrise Park, which is ideal for dog walkers.

You can fulfil your shopping needs at Randhurst Village Mall, which offers a plethora of stores supplying everything from groceries to jewelry. You’ll also find plenty of great places to eat, and numerous entertainment venues, including the AMC Randhurst movie theater.

History buffs can learn a little about the history of the town with a visit to the Mount Prospect Historical Society, who maintain a historic house in the center of town. Filled with a variety of displays from yesteryear, it’s great for both kids and adults. Step back in time with a trip to Mrs P & Me, a historic tavern serving good food and ale, in a stunning old bar room.

Employment & Economy in Mount Prospect, IL

The median household income for Mount Prospect is $71,925, which exceeds state and national averages. Manufacturing is the most common industry in the city, employing 3,727 residents. Health care and social assistance, and retail trade are also fairly common, while the highest paying industry is agriculture, forestry, fishing, and hunting.

The most common occupations held by residents of Mount Prospect are in management roles, office and administrative support occupations, and sales occupations. The highest paid residents are those in legal roles, while the city has an unusually high number of residents working in computer and mathematical occupations.

Mount Prospect, IL Households

  • Total Number of Households20,795
  • Family 15,210
    Non-family 5,585
  • Children 6,887
    No Children 13,908
  • Average People Per Household2.62
  • Median Household Income$79,733
  • Median Housing Costs Per Month$1,300

Education in Mount Prospect, IL

Several school districts serve Mount Prospect, though there are only 8 public elementary schools, 3 public middle schools, and one public high school within the city limits. Prospect High School is served by the Township Hsd 214 School District and ranks extremely high in terms of quality and college readiness. It also performs above average in state tests and ranks as the #23 best public high school in Illinois.

Lincoln Middle School, served by Mount Prospect School District 57, is the top-rated middle school in the city, with students regularly scoring far above average on tests. It ranks as the #156 best public middle school in the state. Lions Park Elementary School is the top-rated elementary school and is far above average in terms of testing and overall quality of education.

Mount Prospect, IL Education Statistics

Tips for Renting in Mount Prospect, IL

There are a variety of neighborhoods in Mount Prospect, each offering something different. The town center is where you’re more likely to find older buildings, narrower roads, and less property space. On the flip side, you can expect more local stores, restaurants, bars, and things to do. You’re also close to the central METRA station.

For a more suburban or modern feel, the northeast corner of Mount Prospect is home to several new neighborhoods. These feature far more modern housing, neighborhood parks, larger property allocation, and wider roads, as well as predominantly underground utilities. This area borders the Lake Avenue Woods, in which the Des Plaines River runs through, making it ideal for outdoor enthusiasts. A second Metra station is situated in the neighborhood, Prospect Heights, which is serviced by the NCS line running to downtown Chicago.

RENTCafé is your one-stop shop for finding a great new apartment in Mount Prospect, IL. Easily search through a wide selection of apartments for rent in Mount Prospect, IL, and view detailed information about available rentals including floor plans, pricing, photos, amenities, interactive maps, and thorough property descriptions. Property owners and managers are one click away, so feel free to contact them and find out all you need to know about the apartment you’re interested in. Browse Mount Prospect, IL apartments with rents starting from $890 and submit your rental application today!

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