In Mount Prospect, a typical home is worth $397,400 and typical rent is $1,502 a month. Compared with all of Cook County, the typical home value is 22% higher, typical household income is 22% higher, and the share of households that own their home is 11 points higher.
Typical home value from Zillow, September 2021 to September 2026: from $332,389 to $449,386.
Typical rent
$1,835a month
▲ 1.9% more than 12 months ago
Typical rent from Zillow, September 2021 to September 2026: from $1,358 to $1,835.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Mount Prospect is in Cook County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Cook County. See the county
What this place has that others do not, from public data, most unusual first.
1
Nearby, in Wheeling, the typical home value is $266,200: 33% less than in Mount Prospect ($397,400).
2
The typical home in Mount Prospect is worth $397,400,22% more than in Cook County as a whole ($324,500).
3
The typical household income in Mount Prospect is $101,720,22% more than in Cook County as a whole ($83,498).
4
69% of households in Mount Prospect own their home, against 58% in Cook County.
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Mount Prospect
What homes there are in Mount Prospect, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Mount Prospect
Cook County
Illinois
United States
Kind of home: Mount Prospect and its comparisons
Measure
Mount Prospect
Cook County
Illinois
United States
Detached house
57%
40%
58%
61%
Attached house
3%
6%
6%
6%
Building of 2 to 4
4%
19%
12%
8%
Apartments (5 or more)
35%
35%
22%
19%
Mobile home
Unreliable estimate
1%
2%
6%
Boat, RV and other
Unreliable estimate
0%
0%
0%
Detached houses, standing on their own, make up 57% of homes here, against 40% in Cook County.
Year built
Before 19601960–19791980–19992000–20092010 or later
Mount Prospect
Cook County
Illinois
United States
Year built: Mount Prospect and its comparisons
Measure
Mount Prospect
Cook County
Illinois
United States
Before 1960
26%
49%
38%
26%
1960–1979
50%
25%
26%
24%
1980–1999
19%
14%
20%
25%
2000–2009
2%
8%
11%
14%
2010 or later
3%
5%
6%
11%
Here half of the homes date from 1969 or later; in Cook County, from 1961 or later.
There is more room for a big family here: 58% of homes have 3 bedrooms or more, against 49% in Cook County.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limitUnreliable estimate
Under $100K3%
$100K–$200K9%
$200K–$300K11%
$300K–$500K57%
$500K–$750K18%
FHA limit: $541,287
$750K–$1M2%
$1M or moreUnreliable
Value of owner-occupied homes: Mount Prospect and its comparisons
Measure
Mount Prospect
Under $100K
3%
$100K–$200K
9%
$200K–$300K
11%
$300K–$500K
57%
$500K–$750K
18%
$750K–$1M
2%
$1M or more
Unreliable estimate
The FHA loan limit for Cook County is $541,287, and about 83% of owner-occupied homes in Mount Prospect are worth less than that.
Monthly rent with utilities
Under the limitOver the limitUnreliable estimate
Under $5006%
$500–$9993%
$1,000–$1,49941%
$1,500–$1,99936%
$2,000–$2,49911%
HUD fair market rent, 2 bedrooms: $2,011
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Mount Prospect and its comparisons
Measure
Mount Prospect
Under $500
6%
$500–$999
3%
$1,000–$1,499
41%
$1,500–$1,999
36%
$2,000–$2,499
11%
$2,500–$2,999
Unreliable estimate
$3,000 or more
Unreliable estimate
HUD's 2-bedroom fair market rent (FMR) for Cook County is $2,011; about 86% of rents in Mount Prospect are below it.
With a mortgage
$2,619 a month
Cook County: $2,270 a month
Without a mortgage
$1,046 a month
Cook County: $910 a month
Owners with a mortgage
57%
Cook County: 62%
Owning costs more in Mount Prospect: with a mortgage, the typical cost is $2,619 a month; in Cook County, $2,270. Without one, $1,046.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Mount Prospect+20%
Cook County+32%
Illinois+35%
United States+53%
Typical rent
Mount Prospect+33%
Cook County+28%
Illinois+26%
United States+33%
Typical household income
Mount Prospect+28%
Cook County+29%
Illinois+27%
United States+29%
Change since 2015–2019: Mount Prospect and its comparisons
Measure
Mount Prospect
Cook County
Illinois
United States
Typical home value
+20%
+32%
+35%
+53%
Typical rent
+33%
+28%
+26%
+33%
Typical household income
+28%
+29%
+27%
+29%
Homes in Mount Prospect gained value more slowly than in Cook County: 20% since 2015–2019, against 32%.
Rents in Mount Prospect rose faster than in Cook County: 33% since 2015–2019, against 28%.
To compare: typical income in Mount Prospect rose 28%; the home, +20%; the rent, +33%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Mount Prospect and its comparisons
Measure
Mount Prospect
Cook County
Illinois
United States
Rental vacancy
Unreliable estimate
4.5%
5.0%
5.5%
Homeowner vacancy
Unreliable estimate
1.1%
1.0%
0.9%
More than one person per room
4.6%
3.3%
2.5%
3.4%
People per household
2.56
2.43
2.46
2.53
Drive alone
68%
55%
66%
69%
Carpool
7%
8%
8%
9%
Public transit
4%
12%
6%
3%
Walk or bike
Unreliable estimate
5%
3%
3%
Work from home
19%
19%
16%
15%
Other means
Unreliable estimate
2%
1%
2%
Typical commute
20 to 29 minutes
30 to 39 minutes
20 to 29 minutes
20 to 29 minutes
More than one person per room: that is how 4.6% of households in Mount Prospect live, more than in Cook County (3.3%).
On average, a household in Mount Prospect has 2.56 people, more than in Cook County (2.43).
In Mount Prospect, 68% of workers drive alone to work; in Cook County, 55%.
Do the math
What would you pay each month for a home in Mount Prospect?
A typical home costs more than the typical income allows
We start with a typical home in Mount Prospect, worth $397,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 43% of the typical household income in Mount Prospect, which is $101,720 a year. For that payment to be 28% of income, a household would need to earn about $158,005 a year.
The calculator's FHA and conventional loan limits are those of all of Cook County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Mount Prospect. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $13,909 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$3,687
at 7.18% · 30 years
Loan amount
$390,202
Total interest
$561,409
Paid off in
November 2056
Includes $6,711 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $2,373 a month
Tight
$2,373 to $3,052 a month
Hard
more than $3,052 a month
Your payment · 43%
Compared with the typical household income in Mount Prospect ($101,720 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$2,643
Property tax
$702
Home insurance
$166
FHA mortgage insurance (MIP)
$176
You need at least $13,909 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $3,687; principal and interest $2,643.
The city and its county
Mount Prospect and Cook County
Mount Prospect is in Cook County, Illinois. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Mount Prospect
Map of Cook County, Illinois, with Mount Prospect marked. Around it, the neighboring counties.
Mount Prospect
Cook County
Other cities with a page
Mount Prospect's own numbers
Typical home value
$397,400
Typical monthly rent
$1,502
Typical yearly household income
$101,720
Households that own their home
69%
Effective property tax rate
2.12%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Cook County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$2,011
Price change over 5 years (FHFA)
+42%
Homes in a high flood-risk zone
1%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Cook County.
A typical home in Mount Prospect is worth $397,400: 22% above the county and 51% above Illinois. With the typical household income in Mount Prospect ($101,720 a year), a typical home costs 3.9 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Mount Prospect3.9 years
Cook3.9 years
Illinois3.2 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Cook County
According to FHFA’s house price index, home prices in Cook County rose 61% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Cook County.
Yearly change in FHFA’s price index in Cook County, 2016 to 2025
2016: +3.9% +3.9% 2016
2017: +3.2% +3.2% 2017
2018: +2.5% +2.5% 2018
2019: +2.7% +2.7% 2019
2020: +0.9% +0.9% 2020
2021: +7.2% +7.2% 2021
2022: +11.3% +11.3% 2022
2023: +5.7% +5.7% 2023
2024: +6.4% +6.4% 2024
2025: +5.5% +5.5% 2025
Change in FHFA’s price index in Cook County, Illinois and the United States
Period
County
Illinois
U.S.
Last year (2025)
+5.5%
+5.7%
+2.9%
5 years (2020–2025)
+42%
+47%
+47%
10 years (2015–2025)
+61%
+65%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Mount Prospect next to Cook County, Illinois and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Mount Prospect$397,400
Cook$324,500
Illinois$263,300
United States$332,700
Typical monthly rent
Mount Prospect$1,502
Cook$1,435
Illinois$1,274
United States$1,413
Typical yearly household income
Mount Prospect$101,720
Cook$83,498
Illinois$83,390
United States$80,734
See the full table
Mount Prospect next to Cook County and Illinois
Measure
Mount Prospect
Cook County
Illinois
U.S.
Typical home value
$397,400 ▲22% above the county
$324,500
$263,300
$332,700
Typical monthly rent
$1,502 ▲5% above the county
$1,435
$1,274
$1,413
Typical yearly household income
$101,720 ▲22% above the county
$83,498
$83,390
$80,734
Households that own their home
69% ▲11 points above the county
58%
67%
65%
Typical yearly property tax
$8,425 ▲36% above the county
$6,191
$5,298
$3,119
Effective property tax rate
2.12% ▲0.21 points above the county
1.91%
2.01%
0.94%
Renters with high rent for their income
51% ▲2 points above the county
49%
48%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Cook County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Mount Prospect
For a typical $397,400 home in Mount Prospect, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Mount Prospect's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$3,687a month
Least cash to close
Down payment
$13,909
Cash to close
$25,831
Rate
7.18%
Mortgage insurance
FHA MIP · $176
Conventional, 5% down$3,614a month
Down payment
$19,870
Cash to close
$31,792
Rate
7.18%
Mortgage insurance
PMI · $189
Conventional, 20% down, no PMI$3,021a month
Down payment
$79,480
Cash to close
$91,402
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$3,389a month
Down payment
$59,610
Cash to close
$71,532
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Mount Prospect
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$3,687
$13,909
$390,202
7.18%
FHA MIP · $176
$25,831
580
Conventional, 5% down
$3,614
$19,870
$377,530
7.18%
PMI · $189
$31,792
620*
Conventional, 20% down, no PMI
$3,021
$79,480
$317,920
7.18%
None
$91,402
620*
ITIN, 15% down (example)
$3,389
$59,610
$337,790
8.18%
None
$71,532
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Mount Prospect is $1,502 a month: 5% above the county. In Mount Prospect, 51% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Cook County, by unit size. To pay the 2-bedroom one ($2,011 a month) without spending more than 30% of your income, you would need to earn $38.67 an hour working full time.
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There are 42 HUD-approved agencies with an office in Cook County; 19 say they serve in Spanish.
No down payment, repair or rent-help program on our list is for Mount Prospect or Cook County. The ones below are statewide in Illinois: they work in Mount Prospect the same as in the rest of the state.
IHDA second loan with no payments until you sell or refinance, for the down payment in Illinois.Offered by Illinois Housing Development Authority (IHDA).
The HUD-approved agencies closest to the center of Mount Prospect, in a straight line, nearest first. If one says it serves in Spanish, its card says so.
No legal help resource on our list is for Mount Prospect or Cook County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Mount Prospect and all of Cook County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Mount Prospect?
The typical home value in Mount Prospect is $397,400, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Cook County it is $324,500.
How much does it cost to rent in Mount Prospect?
Typical rent in Mount Prospect is $1,502 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Cook County is $2,011.
What is the FHA loan limit in Mount Prospect?
Mount Prospect uses the FHA limit for all of Cook County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Mount Prospect?
The typical homeowner in Mount Prospect pays $8,425 a year, according to the U.S. Census Bureau. That is 2.12% of the home’s value; in Cook County, the rate is 1.91%.
Where can I find free help to buy or rent in Mount Prospect?
There are 42 HUD-approved counseling agencies with an office in Cook County. 19 say they serve in Spanish. They can help you get ready to buy, with your credit, or with rent.
