Mount Prospect, IL — Momentum Score, Home Values & Best-For

All states·Illinois·Mount Prospect

Cook County · Chicago-Naperville-Elgin · population 55,460

ShrinkingRenter-friendly
Mount Prospect, IL
Image: Wikipedia · Mount Prospect, Illinois
OverviewCost of livingMoving guide
View watchlist →
66
Rising
Momentum score · 0–100

Where Mount Prospect stands

At or near all-time high. home values up 6.6% in the last year. population shrinking 0.6% per year.

Median home $441,128
1-year +6.6%
5-yr CAGR +6.1%
vs 5-yr peak +0.0%
Population -0.6%/yr

Home value trajectory · last 10 years

Zillow ZHVI · monthly
peak 2026-04$441k$263k$328k$394k$459k201620182020202220242026

Lifestyle scores

🚶
Walkability
64/100
Somewhat walkable
Estimated from population density. Higher = denser, more amenities within walking distance.
🚉
Public transit
22/100
Transit limited
Curated list of major US transit systems + population-based estimate. Higher = real subway/rail/bus options.
💻
Remote work fit
70/100
Strong remote-work fit
Composite of city size, housing cost, state tax structure, and region's remote-work track record.

Scores are heuristic estimates from population density, state, and known transit/walkable cities. Not based on a paid Walk Score / Transit Score API — see methodology for the formula.

Rent trajectory · last 5 years

Zillow ZORI · monthly
$1,693/mo$1,166$1,500$1,834202220242026

Home value vs rent · indexed to 100

Both rebased at first month of ZORI data (~2015)
Home valueRent135133100120140202220242026

Rent vs buy

Price-to-rent ratio: 21.7
Lean rent

At a 21.7 price-to-rent ratio, the math is starting to lean toward renting in Mount Prospect. Owner-occupier ROI requires longer holds and the assumption that prices keep appreciating roughly at the rate of rent.

How the momentum score breaks down

methodology →
Home YoY
81 · w22%
Home 5-yr CAGR
70 · w22%
Distance from peak
90 · w18%
Population growth
36 · w16%
Rent YoY
42 · w12%
Home 10-yr CAGR
58 · w10%
Long thesis

Mount Prospect has held up across the cycle: home values at $441,128 with +6.1% 5-year CAGR. The bull case is structural — population, location, employer base — and holds even if next year's print is soft.

Short thesis

Mount Prospect's population is shrinking 0.6% per year. Housing demand has to come from somewhere — if people are leaving, the buyer pool is shrinking faster than the inventory. That eventually shows up in price.

About Mount Prospect

Mount Prospect is a city in Cook County, Illinois, with an estimated population of 55,460. It anchors the Chicago-Naperville-Elgin metro area. The population has contracted 0.6% per year on average since 2020. The median home value in Mount Prospect is $441,128 as of 2026-04, up 6.6% over the last 12 months. Over the last five years, home values have averaged +6.1% annual growth, with prices at or near the 5-year peak. Rents in Mount Prospect average $1,693 per month, roughly flat year-over-year (-0.6%). The composite momentum score is 66 of 100 (Rising). The market is healthy with prices supported by underlying demand.

▲ Bull case

●Trend still working: prices up 6.6% in the last 12 months — buyers are still chasing inventory.
●Healthy 5-year run: +6.1% annualized over 5 years, outpacing US inflation.
●Held the highs: currently +0.0% from the 5-year peak — this market refused to give back gains.

▼ Bear case

●Flat or shrinking population: -0.6% per year. Housing demand has to come from somewhere — verify the source.
○Local nuance: city-level data smooths over neighborhood differences. School zones, HOA rules, and street-level character matter — visit before deciding.

About Mount Prospect (Wikipedia)

Mount Prospect is a village in Cook County, Illinois, United States. It is part of Elk Grove and Wheeling townships, about 20 miles (32 km) northwest of downtown Chicago and approximately 4 miles (6.4 km) north of O'Hare International Airport. As of the 2020 census, the village had a total population of 56,852.

Source: Wikipedia · this summary is contributed and licensed under CC-BY-SA.

City facts

MayorPaul Hoefert
Area10.76 sq mi
MottoWhere friendliness is a way of life
Density5303.85/sq mi

Extracted from the Wikipedia infobox. Values may be slightly out of date relative to the latest sources.

Playbook

Buyer

You're not in a frenzy but you're not getting bargains either. Make a competitive offer with normal inspection terms. Don't lowball — the listing will move with or without you.

Seller

Price at fair market value; expect movement in 30-45 days. Don't get clever with terms (rent-back, contingencies) — buyers in a Rising market have options.

Investor

Appreciation tailwind exists but cash flow requires discipline on price. Run the numbers conservatively and confirm rent comps before committing.

Local safety & alerts

No active National Weather Service alerts for Cook County right now.

NWS active alerts (IL)Illinois Emergency ManagementHow to prepare (NWS)

Public-safety links are official .gov sources, not curated by us. Cook County routes NWS alerts; check the state EM portal for non-weather emergencies.

Cities like Mount Prospect

Skokie, IL69 · RisingArlington Heights, IL66 · RisingNiles, IL68 · RisingDowners Grove, IL72 · Rising

Run the numbers for Mount Prospect

ToolCan I afford Mount Prospect?Income → city shortlistToolROI on a Mount Prospect rentalCap rate, cash-on-cash, DSCRToolCompare Mount Prospect to anywhereSide-by-side up to 3 citiesToolMount Prospect cost-of-livingEquivalent income elsewhere

Sources: Zillow ZHVI (home values), Zillow ZORI (rents), US Census ACS + place population. Updated when source agencies publish revisions.

Climate & natural-disaster risk

Winter (Jan)
33° / 18°
avg high / low
Summer (Jul)
85° / 64°
avg high / low
Sunny days/yr
189
~52% of year
Annual precip
38″ rain
22″ snow
Disaster risk (1=very low, 5=very high)
Hurricane
Very low
Tornado
High
Wildfire
Very low
Earthquake
Low
Flood
Moderate

State-level averages from NOAA Climate Normals (1991-2020) and FEMA National Risk Index. City-level conditions can vary significantly within a state.

Local sports teams

Major professional teams the Chicago-Naperville-Elgin area cheers for. Detailed stats, schedules, and player pages on intherafters.com.

Current weather

Loading current conditions…

7-day forecast on weather.gov →

Find rentals & listings

Open current Mount Prospect listings on the major real-estate sites.

Links open the live search on the destination site — results are always current.

Local news & community

Updated 2026-05-21 from Google News + Reddit RSS. Headlines link to original sources.

Local economy & environment

Humidity
71%
Humid climate
Median household income
$78,400
Illinois state median
Top industries (state-level)
FinanceManufacturingHealthcare

Humidity is annual average relative humidity (NOAA). Income is Census ACS 5-year estimate. Industries are largest employment sectors statewide (BLS); the local mix in a given city may vary.

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