Cost of Living in Mount Prospect, IL
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
157.3
100 = national avg
+57.3 vs national average
Living Wage (1 Adult)
$69,211
per year
Living Wage (Family of 4)
$163,589
per year
Cost Index by Category
Housing197.9
Food129.4
Transportation124.9
Healthcare123.5
Utilities137.2
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$1,581
per month
2 Bedroom
$1,781
per month
The overall cost of living index in Mount Prospect is 157.3, which is 57.3% above the national average. Housing costs are above the national average at an index of 197.9. A single adult needs to earn approximately $69,211 per year to cover basic expenses.