Huntington Square
1300 S Elmhurst Rd,
Mount Prospect, IL 60056
$1,650 - $2,200
1-3 Beds
Rental Market Trends in Mount Prospect, IL
What is the average rent in Mount Prospect, IL?
$1,653/month
Average Rent
691 Sq Ft
Average Apartment Size
-3.9%
Decrease in the Last Year
As of January 2026, the average rent in Mount Prospect, IL is $1,653 per month. For comparison, the national average rent price in the US is currently $1,625/month, which means Mount Prospect rent prices are 2% higher than the national average. When you rent an apartment in Mount Prospect, you can expect to pay about $1,886 per month for a studio, $1,653 for a one-bedroom apartment, and around $1,759 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $2,784 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Mount Prospect, IL?
In the past year, rent has decreased by 3.9%, which averages out to $64 less per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated January 2026
Legend
2025
2026
Rent Ranges in Mount Prospect, IL
Last Updated January 2026
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
3%
$700 - $1,000/month
48%
$1,001 - $1,500/month
26%
$1,501 - $2,000/month
23%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Mount Prospect?
Based on current rent prices, Elk Ridge Villa, Downtown Mount Prospect and Colonial Manor are the most affordable neighborhoods in Mount Prospect.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Mount Prospect?
Based on current rent prices, Colonial Manor, Downtown Mount Prospect and Elk Ridge Villa are the most expensive neighborhoods in Mount Prospect.
Neighborhood
Average Rent
Average Sq Ft
Which Mount Prospect neighborhoods have the most rentals available?
The neighborhoods in Mount Prospect with the most apartments available are Downtown Mount Prospect, Colonial Manor and Elk Ridge Villa .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Mount Prospect, IL?
Because the average rent in Mount Prospect is $1,653, you’ll want to make about $5,510 per month or $66,120 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Mount Prospect, IL compare to other nearby cities and neighborhoods?
Use the tool below to compare Mount Prospect, IL to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
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One Bedroom
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Two Bedroom
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Three Bedroom
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Nearby City Rent Trends
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705
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Trinity Property Consultants
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164
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42,814
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96
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Two Coast Living
-
91
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27,776
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78
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RMK Management
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26
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18
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Bayshore Properties
-
20
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in November 2025.
* Percentages may not total 100 due to rounding.