In Prospect Heights, a typical home is worth $346,500 and typical rent is $1,475 a month. Compared with all of Cook County, the typical home value is 7% higher and the share of households that own their home is 9 points higher.
Typical home value from Zillow, September 2021 to September 2026: from $237,237 to $330,260.
Typical rent
$1,712a month
Typical rent from Zillow, March 2026 to September 2026: from $1,669 to $1,712.
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Prospect Heights 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
Prospect Heights has the 15th smallest share of rent-burdened renters of the 291 cities in Illinois with more than 5,000 people (34%).
2
Nearby, in Wheeling, the typical home value is $266,200: 23% less than in Prospect Heights ($346,500).
3
67% of households in Prospect Heights own their home, against 58% in Cook County.
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Prospect Heights
What homes there are in Prospect Heights, 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
Prospect Heights
Cook County
Illinois
United States
Kind of home: Prospect Heights and its comparisons
Measure
Prospect Heights
Cook County
Illinois
United States
Detached house
37%
40%
58%
61%
Attached house
11%
6%
6%
6%
Building of 2 to 4
9%
19%
12%
8%
Apartments (5 or more)
44%
35%
22%
19%
Mobile home
Unreliable estimate
1%
2%
6%
Boat, RV and other
Unreliable estimate
0%
0%
0%
There are more apartments in Prospect Heights than in Cook County: 44% of homes, against 35%.
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Prospect Heights
Cook County
Illinois
United States
Year built: Prospect Heights and its comparisons
Measure
Prospect Heights
Cook County
Illinois
United States
Before 1960
19%
49%
38%
26%
1960–1979
42%
25%
26%
24%
1980–1999
30%
14%
20%
25%
2000–2009
Unreliable estimate
8%
11%
14%
2010 or later
Unreliable estimate
5%
6%
11%
The typical home in Prospect Heights was built in 1976, 15 years after the typical one in Cook County.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200K25%
$200K–$300K15%
$300K–$500K33%
$500K–$750K13%
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Prospect Heights and its comparisons
Measure
Prospect Heights
Under $100K
Unreliable estimate
$100K–$200K
25%
$200K–$300K
15%
$300K–$500K
33%
$500K–$750K
13%
$750K–$1M
Unreliable estimate
$1M or more
Unreliable estimate
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$999Unreliable
$1,000–$1,49943%
$1,500–$1,99941%
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Prospect Heights and its comparisons
Measure
Prospect Heights
Under $500
Unreliable estimate
$500–$999
Unreliable estimate
$1,000–$1,499
43%
$1,500–$1,999
41%
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable estimate
$3,000 or more
Unreliable estimate
With a mortgage
$2,506 a month
Cook County: $2,270 a month
Without a mortgage
$961 a month
Cook County: $910 a month
Owners with a mortgage
47%
Cook County: 62%
Owning costs more in Prospect Heights: with a mortgage, the typical cost is $2,506 a month; in Cook County, $2,270. Without one, $961.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Prospect Heights+22%
Cook County+32%
Illinois+35%
United States+53%
Typical rent
Prospect Heights+34%
Cook County+28%
Illinois+26%
United States+33%
Typical household income
Prospect Heights+16%
Cook County+29%
Illinois+27%
United States+29%
Change since 2015–2019: Prospect Heights and its comparisons
Measure
Prospect Heights
Cook County
Illinois
United States
Typical home value
+22%
+32%
+35%
+53%
Typical rent
+34%
+28%
+26%
+33%
Typical household income
+16%
+29%
+27%
+29%
From 2015–2019 to 2020–2024, the typical home value in Prospect Heights rose 22%; in Cook County, it rose 32%.
Rents in Prospect Heights rose faster than in Cook County: 34% since 2015–2019, against 28%.
Housing prices ran ahead of income in Prospect Heights: typical income rose 16%, against +22% for home values and +34% for rent.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Prospect Heights and its comparisons
Measure
Prospect Heights
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
7.4%
3.3%
2.5%
3.4%
People per household
2.32
2.43
2.46
2.53
Drive alone
67%
55%
66%
69%
Carpool
11%
8%
8%
9%
Public transit
1%
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 households are short on space in Prospect Heights: 7.4% have more than one person per room; in Cook County, 3.3%.
By size, households in Prospect Heights look like those in Cook County: 2.32 people on average.
More people carpool to work in Prospect Heights than in Cook County: 11% against 8%.
Do the math
What would you pay each month for a home in Prospect Heights?
A typical home costs more than the typical income allows
We start with a typical home in Prospect Heights, worth $346,500, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 45% of the typical household income in Prospect Heights, which is $85,008 a year. For that payment to be 28% of income, a household would need to earn about $137,520 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 Prospect Heights. 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 $12,128 (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
$3,209
at 7.18% · 30 years
Loan amount
$340,224
Total interest
$489,502
Paid off in
November 2056
Includes $5,852 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,984 a month
Tight
$1,984 to $2,550 a month
Hard
more than $2,550 a month
Your payment · 45%
Compared with the typical household income in Prospect Heights ($85,008 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$2,305
Property tax
$606
Home insurance
$144
FHA mortgage insurance (MIP)
$153
You need at least $12,128 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 $3,209; principal and interest $2,305.
The city and its county
Prospect Heights and Cook County
Prospect Heights 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).
Prospect Heights
Map of Cook County, Illinois, with Prospect Heights marked. Around it, the neighboring counties.
Prospect Heights
Cook County
Other cities with a page
Prospect Heights's own numbers
Typical home value
$346,500
Typical monthly rent
$1,475
Typical yearly household income
$85,008
Households that own their home
67%
Effective property tax rate
2.1%
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 Prospect Heights is worth $346,500: 7% above the county and 32% above Illinois. With the typical household income in Prospect Heights ($85,008 a year), a typical home costs 4.1 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.
Prospect Heights4.1 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
Prospect Heights 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
Prospect Heights$346,500
Cook$324,500
Illinois$263,300
United States$332,700
Typical monthly rent
Prospect Heights$1,475
Cook$1,435
Illinois$1,274
United States$1,413
Typical yearly household income
Prospect Heights$85,008
Cook$83,498
Illinois$83,390
United States$80,734
See the full table
Prospect Heights next to Cook County and Illinois
Measure
Prospect Heights
Cook County
Illinois
U.S.
Typical home value
$346,500 ▲7% above the county
$324,500
$263,300
$332,700
Typical monthly rent
$1,475 ▲3% above the county
$1,435
$1,274
$1,413
Typical yearly household income
$85,008
$83,498
$83,390
$80,734
Households that own their home
67% ▲9 points above the county
58%
67%
65%
Typical yearly property tax
$7,289 ▲18% above the county
$6,191
$5,298
$3,119
Effective property tax rate
2.1% ▲0.19 points above the county
1.91%
2.01%
0.94%
Renters with high rent for their income
34% ▼15 points below 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 Prospect Heights
For a typical $346,500 home in Prospect Heights, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Prospect Heights's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$3,209a month
Least cash to close
Down payment
$12,128
Cash to close
$22,523
Rate
7.18%
Mortgage insurance
FHA MIP · $153
Conventional, 5% down$3,145a month
Down payment
$17,325
Cash to close
$27,720
Rate
7.18%
Mortgage insurance
PMI · $165
Conventional, 20% down, no PMI$2,629a month
Down payment
$69,300
Cash to close
$79,695
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$2,949a month
Down payment
$51,975
Cash to close
$62,370
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Prospect Heights
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$3,209
$12,128
$340,224
7.18%
FHA MIP · $153
$22,523
580
Conventional, 5% down
$3,145
$17,325
$329,175
7.18%
PMI · $165
$27,720
620*
Conventional, 20% down, no PMI
$2,629
$69,300
$277,200
7.18%
None
$79,695
620*
ITIN, 15% down (example)
$2,949
$51,975
$294,525
8.18%
None
$62,370
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 Prospect Heights is $1,475 a month: 3% above the county. In Prospect Heights, 34% 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 Prospect Heights or Cook County. The ones below are statewide in Illinois: they work in Prospect Heights 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 Prospect Heights, in a straight line, nearest first. If one says it serves in Spanish, its card says so.
HC
Hana Center-Prospect Heights
664 N Milwaukee Ave Ste 213, Prospect Heights · 2 miles away · Spanish
No legal help resource on our list is for Prospect Heights 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 Prospect Heights 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 Prospect Heights?
The typical home value in Prospect Heights is $346,500, 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 Prospect Heights?
Typical rent in Prospect Heights is $1,475 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 Prospect Heights?
Prospect Heights 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 Prospect Heights?
The typical homeowner in Prospect Heights pays $7,289 a year, according to the U.S. Census Bureau. That is 2.1% of the home’s value; in Cook County, the rate is 1.91%.
Where can I find free help to buy or rent in Prospect Heights?
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.
