Prospect Heights renters looking for the least expensive areas to rent should look for the areas towards the red end of the spectrum on the rent cost map. Those who don't mind paying for high-end and luxury apartments should seek out apartments in dark green areas.
On average, the cost of rent in Prospect Heights is about $1,273 per month. This puts it in the 89th percentile compared to the state average cost of rent, which is $1,235. Households in Prospect Heights have a median income of $5,521 per month so the average renter in Prospect Heights is spending roughly 23% of their earnings on housing.
Nationally, and in Prospect Heights, home values are the data point most closely correlated with the cost of rent. The median price of a home in Prospect Heights is $190,155 right now, which is lower than nearby cities, meaning that rents in Prospect Heights also tend to be lower versus these nearby cities.
Higher rent prices are common in the western parts of Prospect Heights while lower rent rates are often available in northwestern areas.
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