Mount Prospect, IL Local Data & Statistics

State: IL

Total population: 55,472 Household income: $101,720 Rent: $1,502

Overview

Total population

55,472

Rent

$1,502

Year built

1969

Household income

$101,720

Per capita income

$48,661

Poverty rate

6.6%

Unemployment rate

3.3%

Household size

2.6 persons

Rent over 30% of income

47.5%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Data are sourced from the American Community Survey (ACS) 5-Year Estimates, 2024 release — the latest dataset currently available, with the exception of the unemployment rate, which is sourced from the Bureau of Labor Statistics (BLS). ACS 5-year estimates are published annually, about 6–12 months after the end of each reference year.

Demographics

State

Illinois

Total population

55,472

Adults over 25

39,519

Total households

21,600

Household size

2.6 persons

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Income & Poverty

Household income

$101,720

Per capita income

$48,661

Poverty rate

6.6%

Unemployment rate

3.3%

Rent over 30% of income

47.5%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Housing

Rent

$1,502

Year built

1969

Households that rent

31.3%

Households that own

68.7%

Rooms per home (all homes)

5.6

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Race

White

63.8%

Black

2.5%

Asian

15.5%

Two or more races

10.5%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Ethnicity

Hispanic or Latino

18.1%

Not Hispanic or Latino

81.9%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Commute

Commute rate

80.8%

Commute time to work

26 mins

Work from home

19.2%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Education

Less than high school

22.7%

High school graduate or GED

21%

Some college or associate degree

7.8%

Bachelor’s degree or higher

48.6%

Note: Rent, income, and year built are shown as median values, while household size is shown as an average (see explanations below).

Comparison of Mount Prospect, IL with: Illinois United States

Mount Prospect, IL

Total population55,472

Rent$1,502

Year built1969

Household income$101,720

Per capita income$48,661

Poverty rate6.6%

Unemployment rate3.3%

Illinois State

Total population12,694,798

Rent$1,274

Year built1971

Household income$83,390

Per capita income$46,406

Poverty rate11.8%

Unemployment rate5%

United States

Total population334,922,499

Rent$1,413

Year built1980

Household income$80,734

Per capita income$44,673

Poverty rate12.5%

Unemployment rate4%

Metric	VillageMount Prospect, IL	StateIllinois	CountryUnited States
Total population	55,472	12,694,798	334,922,499
Rent	$1,502	$1,274	$1,413
Year built	1969	1971	1980
Household income	$101,720	$83,390	$80,734
Per capita income	$48,661	$46,406	$44,673
Poverty rate	6.6%	11.8%	12.5%
Unemployment rate	3.3%	5%	4%

View the complete comparison of Mount Prospect, IL, Illinois and United States →

Summary for Mount Prospect, IL

Mount Prospect is located in Illinois.

Rent & Income

In Mount Prospect, the typical monthly rent is $1,502 and the typical household income is $101,720. Rent here is higher than in both Illinois and the U.S., and household income is also higher than in both. The estimated poverty rate is 6.6%, which is lower than in both Illinois and national.

Housing & Affordability

This area is primarily owner-occupied, with renters accounting for about 31.3% of households. About 47.5% of renters spend more than 30% of their income on housing, indicating high cost burden.

Education & Employment

Educational attainment is very high, with about 48.6% of adults holding a bachelor’s degree or higher. The local unemployment rate is 3.3%, which is lower than both Illinois and the national rate.

Mount Prospect, IL — Rent vs Household Income

Mount Prospect, IL — Poverty vs Unemployment

How Mount Prospect, IL compares in Illinois (29 places)

Metric	This place	Rank	Starts from	Statewide range
Rent	$1,502	17 / 29	from lower rent	$845 – $1,885
Household income	$101,720	8 / 29	from higher income	$51,592 – $155,105
Poverty rate	6.6%	7 / 29	from lower poverty	4.4% – 25.9%
Unemployment rate	3.3%	1 / 29	from lower unemployment	3.3% – 6.2%

Rankings are calculated among cities and communities in Illinois with total population > 50,000 (year 2024).

Detailed Ranking Explanation for Mount Prospect, IL

Rent

In rent comparisons, Mount Prospect comes in 17th out of 29 large places. Across Illinois, rents vary from $845 in Decatur, IL to $1,885 in Naperville, IL.

Household income

In terms of household income, Mount Prospect comes in 8th among 29 major places. Across Illinois, income levels vary from $51,592 in Decatur, IL to $155,105 in Naperville, IL.

Poverty rate

In poverty comparisons, Mount Prospect ranks 7th out of 29 large places. Statewide rates vary from 4.4% in Naperville, IL to 25.9% in Champaign, IL.

Unemployment rate

In terms of unemployment, Mount Prospect is ranked 1st out of 29 major areas. Across Illinois, rates go from 3.3% in Champaign, IL up to 6.2% in Waukegan, IL.

💰 Rent in Mount Prospect, IL (with Utilities)

Estimated Monthly Rent: $1,502 ℹ️ What’s Included:
✅ Base rent, electricity, gas, water/sewer, and heating fuels
❌ Not included: internet, cable TV, renter's insurance, parking

💡 What does this rent estimate mean?

Explanation: This estimate shows what renters typically pay each month for housing, including the apartment or home and essential utilities such as heat, water, and electricity. Even when utilities are billed separately, an estimated average cost for utilities is included, in line with the U.S. Census Bureau’s (ACS) definition of gross rent.

Included in this number: Rent plus electricity, gas, water/sewer, and heating fuel.

Not included: Internet, cable, parking, renter’s insurance, or furniture rental.

Note: This cost does not depend on the number of people living in the home.

👨‍👧‍👦 Household Income in Mount Prospect, IL

Annual Household Income: $101,720

💡 What does Household Income mean?

Definition: This represents the middle value of all household incomes in this area — half of households earn less, and half earn more.

Includes: wages, salaries, self-employment income, Social Security, pensions, investments, unemployment, public assistance, and rental income.

Does NOT include: capital gains, non-cash benefits (like food stamps), or tax refunds.

Household = any group of people (or a single person) living in the same housing unit.

Example: A couple earning $40,000 and $30,000 together have a household income of $70,000. If that's in the middle of all local incomes, it's the value shown here.

📉 Poverty Rate in Mount Prospect, IL

Estimated Rate: 6.6%

💡 What does the Poverty Rate represent?

Definition: The percentage of people in this area living below the federal poverty threshold.

How it works: The threshold is a dollar amount set by the U.S. Census Bureau that varies by family size and age. If a household's income is below that level, everyone in it is included in this rate.

Example: In a town of 10,000 people, if 1,500 have incomes below the poverty line, the poverty rate is 15%.

Note: This statistic only includes people living in households; it does not count those in student housing, military barracks, or nursing homes.

🏘️ Renter vs. Owner Households in Mount Prospect, IL

In Mount Prospect, IL, households that rent: 6,761 (31.3%)

📊 What does the renter household percentage reveal about this area?

Household Type	Count	Share
Renter-Occupied	6,761	31.3%
Owner-Occupied	14,839	68.7%

Definition: This is the percentage of households that rent their home rather than own it. It includes only occupied housing units.

Why it matters: Areas with a high share of renter households often have younger populations, higher mobility, and different housing needs compared to mostly owner-occupied areas.

Example: If 65% of homes in an area are renter-occupied, it means 65 out of every 100 households rent their home.

📉 Renters Spending Over 30% of Income on Rent in Mount Prospect, IL

In Mount Prospect, IL, cost-burdened renters (households spending over 30% of income on housing): 3,209 (47.5%)

🏚️ What Does It Mean When Renters Spend Over 30% of Their Income on Housing?

Household Group	Households	Share
Cost-burdened renters (over 30%)	3,209	47.5%
Other renter households	3,552	52.5%
Total renter households	6,761	100%

Shares are calculated as a percentage of renter households.

This shows how many renters in this area are considered cost-burdened — meaning they spend more than 30% of their income on housing (rent and basic utilities).

It’s a sign that housing might be unaffordable in the area or that lower-income residents may be struggling with rent.

Data comes from the U.S. Census Bureau’s American Community Survey.

📊 Education Levels in Mount Prospect, IL

Less than High School: 8,983 people (22.7%)

Includes adults who did not complete high school.

High School Graduate or GED: 8,283 people (21%)

Includes adults whose highest education is a high school diploma or GED.

Some College or Associate Degree: 3,065 people (7.8%)

Includes adults who attended college without completing a bachelor’s degree (some college or associate degree).

Bachelor’s Degree or Higher: 19,188 people (48.6%)

Includes adults with a bachelor’s degree or higher (bachelor’s, master’s, professional, or doctoral degree).

👥 Total Adults (25+): 39,519

📊 Unemployment Rate in Mount Prospect, IL

Estimated Rate: 3.3%

💡 What does Unemployment Rate mean?

Definition: The unemployment rate is the percentage of people in the labor force who do not have a job but are actively looking for one.

Labor Force = Employed + Unemployed (aged 16+ and actively participating in the workforce).

Formula: (Unemployed ÷ Labor Force) × 100

Does NOT include: People who are retired, students not looking for work, homemakers, or otherwise not seeking employment.

Example: If there are 1000 people in the labor force and 80 are unemployed, then the unemployment rate is 8%.

Similar Population

Southaven, MS55,531 Tigard, OR55,395 Arcadia, CA55,550 Coeur d'Alene, ID55,558 Olympia, WA55,583 Perth Amboy, NJ55,278 Apple Valley, MN55,696 Valdosta, GA55,222 Chicopee, MA55,213 New Brunswick, NJ55,744

ℹ️ Have questions about how these statistics are calculated? See our data methodology & FAQs

Source: ACS 5-Year Estimates (U.S. Census Bureau) — unemployment rate from BLS. Some values are derived metrics.