Mount Prospect, IL Rental Market Trends
Last updated: October 19, 2025 | Source: RentCafe Market Analysis, Yardi Matrix, U.S. Census Bureau
Highlights
The average rent for an apartment in Mount Prospect is $1,886, a 4.46% increase compared to the previous year, when the average rent was $1,806.
Studio Apartments at $2,053 offer the most budget-friendly option with 619 square feet, ideal for single renters prioritizing location over space.
One-bedroom apartments provide 695 square feet for $1,711, balancing privacy and affordability.
Two-beedroom units at $2,083 offer 964 square feet, perfect for roommates or small families.
Three-bedroom apartments deliver maximum space (1,250 sq ft) for $2,546, suitable for larger households.
Average rent in Mount Prospect, IL
Last updated: October 19, 2025
| Average Rent | Average Apartment Size | |
|---|---|---|
| All Rentals | $1,886 | 819 sq. ft. |
| Studio | $2,053 | 619 sq. ft. |
| 1 Bed | $1,711 | 695 sq. ft. |
| 2 Beds | $2,083 | 964 sq. ft. |
| 3 Beds | $2,546 | 1,250 sq. ft. |
Mount Prospect, IL rent trends
Rental prices in Mount Prospect, IL have increased by 4.46% over the past year. The average rent moved from $1,806 to $1,886.
What's the typical rent budget in Mount Prospect, IL?
The largest share of rentals in Mount Prospect, IL (56%) fall between $1,501-$2,000 per month. This suggests that most people succesfully find suitable apartments within this price.
Do most people rent or own in Mount Prospect, IL?
6,592 or 30% of the households in Mount Prospect, IL are renter-occupied while 15,411 or 70% are owner-occupied.
Where this data comes from
The rental statistics on this page were compiled by RentCafe.com, a nationwide apartment search website trusted by millions of renters to find apartments and houses for rent throughout the U.S.
Rent prices, trends, and apartment sizes were calculated based on data from our sister company, Yardi Matrix, an apartment market intelligence solution that covers approximately 90% of the U.S. metro area population. The data includes comprehensive information on all Mount Prospect apartment buildings with 50 or more units, totaling 23.5 million apartments across 181 U.S. markets.
Housing composition data was sourced from the U.S. Census Bureau, using the most recently available information by tenure.