Mount Prospect, IL Rental Market Trends
Highlights
The average rent for an apartment in Mount Prospect is $1,261, a 5% increase compared to the previous year, when the average rent was $1,196.
Average Rent in Mount Prospect, IL
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $1,261 | 5% | 888 sq. ft. |
The average size for a Mount Prospect, IL apartment is 888 square feet, but this number varies greatly depending on unit type, with cheap and luxury alternatives for houses and apartments alike. 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-$1,0006%
- $1,001-$1,50082%
- $1,501-$2,00012%
Mount Prospect, IL Occupied Housing Units
- Renter-occupied Households26%
- Owner-occupied Households73%
5,562 or 26% of the households in Mount Prospect, IL are renter-occupied while 15,103 or 73% are owner-occupied.
Mount Prospect, IL Rent Trends
| Average Rent | Mar / 2017 | Jul / 2017 | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Jul / 2019 | Nov / 2019 | Feb / 2020 |
|---|---|---|---|---|---|---|---|---|---|---|
| Mount Prospect, IL | $1,130 | $1,182 | $1,179 | $1,217 | $1,207 | $1,224 | $1,196 | $1,244 | $1,230 | $1,261 |
| National | $1,337 | $1,368 | $1,371 | $1,374 | $1,408 | $1,417 | $1,422 | $1,458 | $1,466 | $1,468 |
How Mount Prospect Compares to Other Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Chicago | $1,943 | 2% |
| Oak Park | $1,943 | 6% |
| Evanston | $1,945 | 1% |
| Naperville | $1,501 | 5% |
| Aurora | $1,329 | 2% |
| Skokie | $1,577 | n/a |
| Kenosha | $1,050 | 3% |
| Arlington Heights | $1,440 | -1% |
| Schaumburg | $1,410 | 2% |
| Mount Prospect | $1,261 | 5% |
| Elgin | $1,147 | 6% |
For more information about the Mount Prospect rental trends, check out our monthly rent report
Check out Illinois Cities, Illinois Neighborhoods and Illinois Zip Codes for more details on verified listings, including the Illinois Average Rent.
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