Last updated
Average Rent in Mt Prospect 60056 & Rent Trends
Rent prices and market trends across 3 apartment communities in Mt Prospect 60056, Mt Prospect, IL. Updated daily.
Market Average
$2,532/mo
Lowest Available
$2,226/mo
cheapest unit on market
Communities
3
tracked daily
Units Listed
13
available now
Rent Watch: cuts and increases
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Mt Prospect 60056 vs Mt Prospect, IL Average
Mt Prospect 60056 is the same price as the Mt Prospect, IL average . The citywide average is $2,532/mo across all neighborhoods.
Is Rent Going Up or Down in Mt Prospect 60056?
As of October 2026, the average rent in Mt Prospect 60056 is $2,532 per month across 3 apartment communities and 13 available units.
The most affordable option is HQ Residences | Mt. Prospect starting at $2,226/mo. By unit type, a studio averages $2,299/mo, a 1-bedroom averages $2,494/mo, a 2-bedroom averages $3,180/mo.
Prices range from $2,226 to $3,180 per month. The most common price point is the $2,400 range, where 5 units are currently listed.
Average Rent by Bedroom
Rent Price Distribution
Rent by Bedroom Type in Mt Prospect 60056
Rent Prices by Apartment in Mt Prospect 60056
| Property | Starting at | Average | Units | Rating |
|---|---|---|---|---|
| HQ Residences | Mt. Prospect | $2,226/mo | $2,226/mo | 1 | 4.8 |
| The Dawson | $2,299/mo | $2,452/mo | 7 | 3.7 |
| Prospect Place | $2,440/mo | $2,705/mo | 5 | 4.5 |
Frequently Asked Questions About Rent in Mt Prospect 60056
What is the average rent in Mt Prospect 60056?
Is rent going up or down in Mt Prospect 60056?
What is the cheapest apartment in Mt Prospect 60056?
How much is a 1-bedroom apartment in Mt Prospect 60056?
How many apartments are available in Mt Prospect 60056?
What salary do I need to live comfortably in Mt Prospect 60056?
Built on the 25 to 30 percent rent-to-income guideline used by most landlords and credit-scoring models.
Minimum to afford average rent
$101,000/year
Based on the 30 percent rule, using our tracked average rent of $2,532/mo.
Comfortable income
$122,000/year
Based on the 25 percent rule, leaving more room for savings, transport, and groceries.
To afford the cheapest tracked apartment ($2,226/mo), you need to earn at least $89,000/year.
Median household income in Mt Prospect 60056 is $103,911 , about 15% below the comfortable-living threshold.
Cost of living in Mt Prospect 60056
Overall prices in Mt Prospect 60056 runs above the national average by about 2% (BEA Regional Price Parity index 102.5, where 100 equals the U.S. average). The breakdown below estimates monthly costs for a single adult, using national consumer-spending baselines from the Bureau of Labor Statistics scaled by Mt Prospect 60056's regional price parities.
| Category | Monthly estimate |
|---|---|
| Rent (market average) | $2,532 |
| Utilities | $477 |
| Groceries | $563 |
| Transportation | $1,138 |
| Healthcare | $555 |
| Other goods and services | $888 |
| Estimated total | $6,153/mo |
Population
55,648
Median household income
$103,911
Census median rent
$1,454/mo
Census rent burden
29.1%
Median age
41.7
Mean commute
27 min
Methodology
Rent data
Sourced directly from each tracked apartment community and refreshed every 24 hours. Every listed unit price on this page is real and listed today.
Cost of living
Estimates combine national consumer-spending baselines from the U.S. Bureau of Labor Statistics (Consumer Expenditure Survey) with the U.S. Bureau of Economic Analysis Regional Price Parities (MARPP dataset). Both are peer-reviewed federal data releases published annually.
Salary to live comfortably
Applies the standard 25 to 30 percent rent-to-income rule on top of the listed rent. This is the same affordability guideline used by most landlords and credit-scoring models.
Demographic figures
Median household income, population, median age, commute time, Census median rent, and rent as percentage of income come from the U.S. Census Bureau's American Community Survey 5-year estimates, the most recent complete release.
Cost of living and demographic figures were last published in 2023.
Google Search Trends for Mt Prospect 60056 Apartments
Search interest for apartments in this area over the past 12 months.
Search Interest Over Time
Explore Mt Prospect 60056 Apartments
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