Mount Prospect, IL Rental Market Trends
Highlights
The average rent for an apartment in Mount Prospect is $1,244, a 3% increase compared to the previous year, when the average rent was $1,207.
Average Rent in Mount Prospect, IL
Last updated Aug 2019
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,244 | 3% | 883 sq. ft. |
The average size for a Mount Prospect, IL apartment is 883 square feet, but this number varies greatly depending on apartment type. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Mount Prospect, IL Apartment Rent Ranges
- $701-$1,0002%
- $1,001-$1,50088%
- $1,501-$2,00010%
Mount Prospect, IL Occupied Housing Units
- Renter-occupied Households27%
- Owner-occupied Households72%
5,496 or 27% of the households in Mount Prospect, IL are renter-occupied while 14,834 or 72% are owner-occupied.
Mount Prospect, IL Rent Trends
| Average Rent | May / 2016 | Sept / 2016 | Jan / 2017 | May / 2017 | Sept / 2017 | Jan / 2018 | May / 2018 | Sept / 2018 | Jan / 2019 | Aug / 2019 |
|---|---|---|---|---|---|---|---|---|---|---|
| Mount Prospect, IL | $1,193 | $1,156 | $1,130 | $1,182 | $1,179 | $1,217 | $1,207 | $1,224 | $1,196 | $1,244 |
| National | $1,344 | $1,352 | $1,347 | $1,379 | $1,381 | $1,382 | $1,418 | $1,427 | $1,430 | $1,466 |
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How Does Mount Prospect Compare to Nearby Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Chicago | $1,998 | 6% |
| Oak Park | $1,874 | n/a |
| Evanston | $2,034 | 8% |
| Skokie | $1,620 | 7% |
| Riverdale | $784 | 1% |
| Arlington Heights | $1,505 | 5% |
| Riverdale Town | $784 | 1% |
| Chicago Heights | $830 | n/a |
| Lansing | $966 | 5% |
| Mount Prospect | $1,244 | 3% |
For more information about the Mount Prospect rental trends, check out our monthly rent report
Cheapest Listings on RENTCafé
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Mount Prospect apartment buildings 50 units or larger. Yardi Matrix covers ~90% of the U.S. metro area population, including ~17 million apartments across more than 130 U.S. markets.