Prospect Heights, IL Cost Of Living
Cost Of Living In Prospect Heights, IL Summary
Cost of living in Prospect Heights research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Prospect Heights is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Illinois, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Prospect Heights is 119, with 100 being the average.
The cost of living index in Prospect Heights is 1.2x higher than the national average.
Prospect Heights ranks as the #271 cheapest in Illinois out of 336.
Prospect Heights ranks as the #4,349 cheapest out of 6,489 in the US.
The median home value in Prospect Heights is $358,418.
The median income in Prospect Heights is $91,599.
Table Of Contents
Prospect Heights's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Prospect Heights, IL?
According to the most recent data on the cost of living, Prospect Heights has an overall cost of living index of 119, which is 1.2x higher than the national index of 100.
Compared to Illinois, Prospect Heights has a cost of living index that's 1.2x higher than Illinois's index of 97.
The standard of living in Prospect Heights ranks as #271 most affordable out of the 336 places we measured in Illinois. By definition, that implies Prospect Heights ranks as the #65 most expensive place in the Prairie State.
For more reading on life in Prospect Heights, check out:
In Illinois
In America
Prospect Heights Cost Of Living Vs. Illinois
Six factors go into calculating the cost of living index in Prospect Heights. Here is how it fairs on each of the criteria:
The Services index in Prospect Heights is 108.
The Groceries index in Prospect Heights is 104.
The Health index in Prospect Heights is 109.
The Housing index in Prospect Heights is 151.
The Transportation index in Prospect Heights is 109.
The Utilities index in Prospect Heights is 89.
| Living Expense | Prospect Heights | Illinois | National Average | |
|---|---|---|---|---|
| Overall | 119 | 97 | 100 | |
| Services | 108 | 95 | 100 | |
| Groceries | 104 | 99 | 100 | |
| Health | 109 | 93 | 100 | |
| Housing | 151 | 95 | 100 | |
| Transportation | 109 | 102 | 100 | |
| Utilities | 89 | 91 | 100 | |
Prospect Heights, IL Housing Cost Breakdown
Housing swings affordability the most between places in Illinois, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Prospect Heights is $358,418.
The Median Rent in Prospect Heights is $1,391.
The Median Income in Prospect Heights is $91,599.
The Home Value To Income in Prospect Heights is 3.9x.
The Rent To Monthly Income in Prospect Heights is 0.18x.
| Statistic | Prospect Heights | Illinois | United States |
|---|---|---|---|
| Median Home Value | $358,418 | $283,508 | $303,400 |
| Median Rent | $1,391 | $1,227 | $1,348 |
| Median Income | $91,599 | $81,702 | $78,538 |
| Home Value To Income | 3.9x | 3.5x | 3.9x |
| Rent To Monthly Income | 0.18x | 0.18x | 0.21x |
Median Home Value
Median Rent
Median Income
Prospect Heights, IL Costs By Category
Detailed Prospect Heights Services Costs Vs. Illinois
| Item | Prospect Heights | Illinois |
|---|---|---|
| Shampoo | $1.27 | $1.28 |
| Movie | $17.91 | $12.13 |
| Bowling | $24.58 | $18 |
| Haircut | $33.69 | $24.26 |
| Beauty Salon | $53.44 | $45.56 |
Detailed Prospect Heights Groceries Costs Vs. Illinois
| Item | Prospect Heights | Illinois |
|---|---|---|
| Ground Beef | $5.28 | $5.84 |
| Fried Chicken | $1.42 | $1.57 |
| Milk | $4.87 | $4.67 |
| Potatoes | $4.9 | $4.93 |
| Pizza | $13.41 | $12.09 |
| Beer | $10.0 | $10.41 |
| Toothpaste | $3.75 | $3.7 |
Detailed Prospect Heights Health Costs Vs. Illinois
| Item | Prospect Heights | Illinois |
|---|---|---|
| Optometrist | $118.27 | $125.68 |
| Doctor | $167.67 | $135.78 |
| Dentist | $128.22 | $113.29 |
Detailed Prospect Heights Transportation Costs Vs. Illinois
| Item | Prospect Heights | Illinois |
|---|---|---|
| Gasoline | $3.56 | $3.46 |
| Tire Balancing | $70.87 | $59.92 |
Detailed Prospect Heights Utilities Costs Vs. Illinois
| Item | Prospect Heights | Illinois |
|---|---|---|
| All Electricity | $148.58 | $193.99 |
| Phone | $210.03 | $192.25 |
Prospect Heights SnackAbility
/10
Cost Of Living In Cities Around Prospect Heights
The cost of living varies in the cities and towns around Prospect Heights. Here's a quick look at the cost of living in the most populous nearby places:
Arlington Heights, IL has a cost of living index of 124, 1.0x Prospect Heights.
Des Plaines, IL has a cost of living index of 113, 0.9x Prospect Heights.
Mount Prospect, IL has a cost of living index of 122, 1.0x Prospect Heights.
| City | Population | Cost Of Living | Vs. Prospect Heights |
|---|---|---|---|
| Arlington Heights, IL | 76,220 | 124 | 1.0x |
| Des Plaines, IL | 59,408 | 113 | 0.9x |
| Mount Prospect, IL | 55,648 | 122 | 1.0x |
| Glenview, IL | 47,682 | 149 | 1.3x |
| Elmhurst, IL | 45,538 | 139 | 1.2x |
| Buffalo Grove, IL | 42,824 | 125 | 1.1x |
| Park Ridge, IL | 39,241 | 138 | 1.2x |
| Wheeling, IL | 38,495 | 108 | 0.9x |
| Northbrook, IL | 34,642 | 153 | 1.3x |
| Highland Park, IL | 30,229 | 148 | 1.2x |
