Cost of Living in Prospect Heights, IL
Population 15,681 · Illinois · Data vintage 2023
(100 = US avg)
Prospect Heights sits on the smaller end of the Illinois city distribution. That scale shapes the housing market, the labor pool, and the services available to residents in ways the data below makes visible.
Geographically, Prospect Heights sits roughly 20 miles east of Elgin. Median home values run roughly 38% higher than Elgin's $252,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Prospect Heights
The median home value in Prospect Heights is $347,500 — 14% above the national median of $305,000. Median rent runs $1,391/month, 6% higher than the national median of $1,314/month. The median household income of $91,599/year is 23% higher than the US median of $74,580. The local unemployment rate is 4.4%, below the national average of 4.8%. Illinois's top state income tax rate is 5.0% and the combined sales tax is 8.7%. The climate averages highs of 59.2°F and lows of 42.3°F. Overall, Prospect Heights has a cost of living index of 111 versus the US average of 100, meaning it is 11% more expensive.
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 32 | 36 | 47 | 58 | 70 | 80 | 84 | 82 | 75 | 63 | 49 | 37 |
| Low °F | 18 | 21 | 30 | 39 | 50 | 60 | 66 | 65 | 56 | 45 | 33 | 24 |
| Precip" | 1.33 | 1.28 | 1.84 | 3.31 | 3.76 | 3.97 | 3.15 | 3.70 | 3.04 | 3.11 | 2.15 | 1.64 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Prospect Heights, IL?
Prospect Heights has a cost index of 111 (100 = national average). It is 11% above the national average.
What is average rent in Prospect Heights, IL?
The median gross rent in Prospect Heights is $1,391 per month based on 2023 Census data.
What is the average home price in Prospect Heights?
The median home value in Prospect Heights is $347,500 according to Zillow and Census data.
What is the median income in Prospect Heights?
The median household income in Prospect Heights is $91,599 per year (2023 ACS 5-year estimates).
What is the sales tax in Prospect Heights, IL?
The combined state and local sales tax rate in Prospect Heights is 8.7%. The Illinois state income tax top rate is 5.0%.
Is Prospect Heights, IL affordable?
Prospect Heights is above average in cost of living, with an index of 111 — about 11% higher than the national average.
What is the weather like in Prospect Heights?
Prospect Heights has average high temperatures of 59.2°F and average lows of 42.3°F. Annual precipitation is 32.3". Data from NOAA 1991–2020 Climate Normals.
Prospect Heights at a Glance
- Population
- 15,681
- Median Income
- $91,599
- Home Value
- $347,500
- Median Rent
- $1,391/mo
- Unemployment
- 4.4%
- Avg High Temp
- 59.2°F
- Sales Tax
- 8.7%
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Explore county-level cost of living data
Illinois Rankings
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