Mount Prospect, IL is an ideal place to live due to its cost of living being lower than the US average. The 2 bedroom rent rate in Mount Prospect is a low $1,580 compared to the US rate of $1,430 which makes it an even more attractive option. Additionally, the Grocery Cost Index in Mount Prospect is 99 compared to 100 in the US making it cheaper to do groceries here too.
Mount Prospect offers plenty of entertainment and cultural activities for both adults and children. Notable local companies include Randhurst Village Shopping Center offering a variety of retail stores and dining experiences, as well as Elk Grove Chevrolet providing quality car services and sales.
Mount Prospect has an unemployment rate of 5.0%. The US average is 6.0%.
Mount Prospect has seen the job market decrease by -0.2% over the last year. Future job growth over the next ten years is predicted to be 26.6%, which is lower than the US average of 33.5%.
Tax Rates for Mount Prospect
- The Sales Tax Rate for Mount Prospect is 10.0%. The US average is 7.3%.
- The Income Tax Rate for Mount Prospect is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Mount Prospect
- The average income of a Mount Prospect resident is $33,983 a year. The US average is $28,555 a year.
- The Median household income of a Mount Prospect resident is $92,477 a year. The US average is $69,021 a year.