Prospect Heights, IL
Population 15,681 · Illinois
About Prospect Heights, IL
Prospect Heights is a mid-sized city located in Illinois with a population of 15,681 residents according to the latest US Census Bureau American Community Survey data. The median household income is $91,599 per year, which is 22% above the national median of $75,149. The median age of 41 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Prospect Heights features a median home value of $347,500, which is 42% above the national median of $244,900. This positions Prospect Heights in a moderately priced market relative to the rest of the country. Median monthly rent is $1,391, 20% above the national average of $1,163/month. Of the 6,412 total housing units, 64% are owner-occupied (3,969 units) and 36% are renter-occupied (2,280 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Prospect Heights shows an unemployment rate of 4.4%, which is near the national rate of 3.7%. The poverty rate stands at 5.9%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Prospect Heights have an average one-way commute time of 26.4 minutes.
Education & Demographics
36.3% of Prospect Heights residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 30.7% White, 1.0% Hispanic or Latino, 0.7% Black or African American, and 3.3% Asian residents, with 41.0% of the population being foreign-born.
Cost of Living in Prospect Heights, IL
Compared to national averages, Prospect Heights has a median household income of $91,599 (22% above the national median of $75,149). Home values average $347,500, which is 42% above the national median. Monthly rent at $1,391 is 20% above the US average of $1,163. Within Illinois, Prospect Heights's income is 22% above the state average of $75,072, and home values are 110% above the state median of $165,779.
Why Live in Prospect Heights, IL?
Prospect Heights offers a strong local economy with a median household income of $91,599, well above the national average, and a well-educated community where 36.3% of residents hold a bachelor’s degree or higher, and a low poverty rate of 5.9%, better than the national average.
Prospect Heights has a population of 15,681 with a median age of 41 years. Compare Prospect Heights with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Prospect Heights
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Washington | 15,946 | $91,360 | $216,700 | Compare |
| La Grange | 15,999 | $154,556 | $582,600 | Compare |
| Bradley | 15,331 | $62,940 | $164,400 | Compare |
| Norridge | 15,177 | $87,579 | $361,000 | Compare |
| Dixon | 15,166 | $58,371 | $113,300 | Compare |
| Fairview Heights | 16,255 | $77,960 | $166,800 | Compare |
| Mattoon | 16,334 | $47,308 | $96,000 | Compare |
| Macomb | 15,006 | $39,753 | $99,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Prospect Heights With Other Cities
Frequently Asked Questions about Prospect Heights
What is the population of Prospect Heights, IL?
The population of Prospect Heights, IL is 15,681 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Illinois.
What is the median household income in Prospect Heights?
The median household income in Prospect Heights, IL is $91,599 per year, which is 22% above the national median of $75,149.
What is the median home value in Prospect Heights?
The median home value in Prospect Heights, IL is $347,500, which is 42% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Prospect Heights?
The median monthly rent in Prospect Heights, IL is $1,391, which is 20% above the national average of $1,163/month.
What is the unemployment rate in Prospect Heights?
The unemployment rate in Prospect Heights, IL is 4.4%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Prospect Heights, IL a good place to live?
Prospect Heights offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 15,681 and a median age of 41, the city appeals to a broad range of residents.
How educated is Prospect Heights, IL?
36.3% of residents in Prospect Heights aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Prospect Heights?
Key cost-of-living indicators for Prospect Heights, IL: median home value is $347,500 (42% above national), median rent is $1,391/month, and median household income is $91,599. The home-value-to-income ratio is 3.8x, a moderate figure by national standards.
What is the poverty rate in Prospect Heights?
The poverty rate in Prospect Heights, IL is 5.9%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Prospect Heights, IL?
Prospect Heights's population is 30.7% White, 1.0% Hispanic or Latino, 0.7% Black or African American, 3.3% Asian, and 0.4% two or more races. 41.0% of residents are foreign-born.