Living in Prospect Heights, Illinois
Cost of living, income, home prices, rent and demographics of Prospect Heights · Census data 2020–2024
Prospect Heights has 15,618 residents with a median age of 42.8. The median household income is $85,008 (about the same as the Illinois median), the median home value is $346,500, the median rent is $1,475/month.
Prospect Heights at a glance
- Population
- 15,618
- Median age
- 42.8State: 39
- Median household income
- $85,008State: $83,390
- Median home value
- $346,500State: $263,300
- Median rent
- $1,475/moState: $1,274
- Homeowners
- 66.8%
- Bachelor's degree or higher
- 41.3%
- Average commute
- 26 min
Is Prospect Heights a good place to live?
Pros: Median household income about the same as the Illinois median; an average commute of 26 minutes; unemployment of 3.5%; a poverty rate of 7.3%.
Cons: Home values 32% higher than the state median.
The weather is best in June to September.
Cost of living in Prospect Heights
Housing is the biggest part of the cost of living. In Prospect Heights the median home value is $346,500, 4% higher than the U.S. median. Renters pay a median of $1,475 per month, which is 25.6% of household income. Homeowners with a mortgage pay $2,506 a month in housing costs.
Prospect Heights median household income
The median household income in Prospect Heights is $85,008 and the income per person is $48,072. 7.3% of residents live below the poverty line (Illinois: 11.8%).
Housing in Prospect Heights: homes for sale and rent
- Housing units
- 6,915
- Owner-occupied
- 66.8%
- Renter-occupied
- 33.2%
- Vacant
- 3.4%Includes seasonal homes
- Median year built
- 1976
- Average household size
- 2.32
Prospect Heights demographics
- Population
- 15,618
- Median age
- 42.8
- Under 18
- 16.7%
- 65 and older
- 19.5%
- Households
- 6,679
- Foreign-born
- 40.6%
- Veterans
- 3.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Prospect Heights ›
Education in Prospect Heights
41.3% of adults 25 and older in Prospect Heights have a bachelor's degree or higher (Illinois: 37.8%), and 12.7% have a graduate or professional degree.
Jobs and commute in Prospect Heights
- Unemployment rate
- 3.5%State: 5.8%
- Average commute
- 26 minState: 28 min
- Work from home
- 18.6%
- Drive alone
- 66.8%
- Public transit
- 1.4%
- Walk to work
- 0%
- Homes with broadband
- 90.7%
Prospect Heights vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Prospect Heights | 15,618 | $85,008 | $346,500 | $1,475 |
| Wheeling | 38,433 | $85,205 | $266,200 | $1,663 |
| Arlington Heights | 76,005 | $116,723 | $414,500 | $1,760 |
| Mount Prospect | 55,472 | $101,720 | $397,400 | $1,502 |
| Buffalo Grove | 42,891 | $129,395 | $412,300 | $2,037 |
| Des Plaines | 59,156 | $97,875 | $335,600 | $1,606 |
| Riverwoods | 4,013 | $249,205 | $800,700 | $1,842 |
| Northbrook | 34,585 | $157,782 | $652,300 | $2,463 |
| Rolling Meadows | 24,027 | $98,514 | $326,200 | $1,607 |
More for people moving to Prospect Heights
Prospect Heights ZIP code ›Weather and climate ›Living in Prospect Heights: FAQ
What is the median household income in Prospect Heights, IL?
The median household income in Prospect Heights is $85,008, about the same as the Illinois median of $83,390 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Prospect Heights?
The median home value in Prospect Heights is $346,500, compared with $263,300 in Illinois.
How much is rent in Prospect Heights?
The median gross rent in Prospect Heights is $1,475 per month, about 25.6% of household income.
Is Prospect Heights, IL a good place to live?
Pluses: median household income about the same as the Illinois median; an average commute of 26 minutes; unemployment of 3.5%; a poverty rate of 7.3%. Minuses: home values 32% higher than the state median.
What is the median age in Prospect Heights?
The median age in Prospect Heights is 42.8 years (Illinois: 39).
How long is the commute in Prospect Heights?
The average commute to work in Prospect Heights is 26 minutes; 18.6% of workers work from home.
What is the unemployment rate in Prospect Heights?
The unemployment rate in Prospect Heights is 3.5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Prospect Heights?
41.3% of adults in Prospect Heights have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
Last updated: