V.I.P. Apartments
850 Corey Ln,
Wheeling, IL 60090
Studio - 2 Beds | $1,200 - $1,900
Rental Market Trends in Prospect Heights, IL
What is the average rent in Prospect Heights, IL?
$1,529/month
Average Rent
760 Sq Ft
Average Apartment Size
+1.1%
Increase in the Last Year
As of July 2025, the average rent in Prospect Heights, IL is $1,529 per month. For comparison, the national average rent price in the US is currently $1,637/month, which means Prospect Heights rent prices are 7% lower than the national average. When you rent an apartment in Prospect Heights, you can expect to pay about per month for a studio, $1,529 for a one-bedroom apartment, and around $1,773 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,867 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 Prospect Heights, IL?
In the past year, rent has increased by 1.1%, which averages out to $17 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated July 2025
Legend
2024
2025
Rent Ranges in Prospect Heights, IL
Last Updated July 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
0%
$700 - $1,000/month
60%
$1,001 - $1,500/month
40%
$1,501 - $2,000/month
0%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Prospect Heights?
Based on current rent prices, Quincy Park Condominiums and Feuerborns Farmettes" are the most affordable neighborhoods in Prospect Heights.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Prospect Heights?
Based on current rent prices, Feuerborns Farmettes and Quincy Park Condominiums" are the most expensive neighborhoods in Prospect Heights.
Neighborhood
Average Rent
Average Sq Ft
Which Prospect Heights neighborhoods have the most rentals available?
The neighborhoods in Prospect Heights with the most apartments available are Quincy Park Condominiums and Feuerborns Farmettes" .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Prospect Heights, IL?
Because the average rent in Prospect Heights is $1,529, you’ll want to make about $5,096 per month or $61,152 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 Prospect Heights, IL compare to other nearby cities and neighborhoods?
Use the tool below to compare Prospect Heights, 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.
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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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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 June 2025.
* Percentages may not total 100 due to rounding.