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Studio Apartments for Rent in Mount Prospect, IL

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  • 730 W Algonquin Rd, Des Plaines, IL 60016
    730 W Algonquin Rd, Des Plaines, IL 60016
    730 W Algonquin Rd, Des Plaines, IL 60016
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    Starting at $1,489 Per Month

    • Studio - 3 Beds

    730 W Algonquin Rd, Des Plaines, IL 60016

    Your new home is waiting for you at the ReNew Des Plaines North & South! Known for our residential atmosphere, our communities are nestled in the heart of the Des Plaines/Arlington Corridor. Award-winning schools draw you in and the sense of community makes you stay. Enjoy the peace and quiet on your private balcony or join in the fun poolside. Ready to get out and get things done? ReNew

    ReNew Des Plaines North & South

    730 W Algonquin Rd, Des Plaines, IL 60016
  • 235 E Prospect Ave, Mount Prospect, IL 60056
    235 E Prospect Ave, Mount Prospect, IL 60056
    235 E Prospect Ave, Mount Prospect, IL 60056
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    Starting at $2,346

    Total Monthly Price

    • Studio - 2 Beds

    235 E Prospect Ave, Mount Prospect, IL 60056

    The Dawson is a professionally managed, pet-friendly residential community just steps from Mount Prospects Metra station. Offering spacious junior, one- and two-bedroom apartments, each home features a sophisticated design and high-quality finishes that set a new standard for comfortable living. Residents can relax in the onsite dry sauna and massage chairs, while the convenience of Angelo

    The Dawson

    235 E Prospect Ave, Mount Prospect, IL 60056
  • 20 W Northwest Hwy, Mount Prospect, IL 60056
    20 W Northwest Hwy, Mount Prospect, IL 60056
    20 W Northwest Hwy, Mount Prospect, IL 60056
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    Starting at $2,074

    Total Monthly Price

    • Studio - 3 Beds

    20 W Northwest Hwy, Mount Prospect, IL 60056

    Welcome to 20West, where elevated living meets everyday comfort in the heart of Mount Prospect. Here, spacious studio, one-, and two-bedroom floor plans are thoughtfully designed with high-end finishes, open layouts, and elegant touches that feel like home from the moment you walk in. Beyond your front door, a world of curated amenities awaits—from a modern fitness center and rooftop terrace to

    20West

    20 W Northwest Hwy, Mount Prospect, IL 60056
  • 10 N Main St, Mount Prospect, IL 60056
    10 N Main St, Mount Prospect, IL 60056
    10 N Main St, Mount Prospect, IL 60056
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    Starting at $1,895 Per Month

    • Studio - 3 Beds

    10 N Main St, Mount Prospect, IL 60056

    Located in Downtown Mt. Prospect, 10 North Main offers studio, one bedroom, two bedroom, and three bedroom apartments with large custom closets, wide-plank flooring throughout (including bedrooms), generous quartz countertops, in-unit washer/dryer, energy efficient stainless appliances, glass-enclosed showers, and plenty of living space for at-home working or entertaining. Manage keyless entry,

    10 North Main

    10 N Main St, Mount Prospect, IL 60056
Illinois Cook County Mount Prospect

Studio Homes for Rent in Mount Prospect, IL

Why Live in Mount Prospect

Mount Prospect, Illinois, is a northwest suburb located approximately 24 miles from downtown Chicago and 8 miles from Chicago O’Hare International Airport. The area has evolved from its origins as a flag stop in the late 1800s to a bustling community with a population of over 54,000. The downtown area underwent significant redevelopment in the 1990s and 2000s, introducing brick crosswalks, wrought iron lampposts, and mixed-use properties around Village Hall and Centennial Green park. Housing options include single-family homes such as split-levels, ranch-style homes, Cape Cods, bungalows, and colonial-style homes, as well as condos and townhouses. The Mount Prospect Park District collaborates with neighboring communities to offer recreational facilities like Melas Park, Mt. Prospect Golf Club, and Old Orchard Country Club. Randhurst Village, a walkable outdoor shopping center, and Busse Woods, a large forest preserve, provide diverse things to do. The area is served by highly-rated River Trails School District 26 and Township High School District 214. Commuting is facilitated by the Metra Union Pacific Northwest Line and nine Pace bus routes, while driving remains popular. Downtown Mount Prospect features a variety of dining and shopping options, including Jewel-Osco, Aldi, Angelo Caputo's Fresh Markets, and a busy Costco. Community events such as block parties and concerts foster a friendly atmosphere, aligning with the village’s motto, “Where friendliness is a way of life.”

Learn more about living in Mount Prospect

Frequently Asked Questions

How much does it cost to rent a home in Mount Prospect, IL?
The median rent for a home in Mount Prospect, IL is $2,747 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Mount Prospect, IL?
To comfortably afford the median rent in Mount Prospect, IL, a household needs to earn roughly $109,880 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,747 per month in Mount Prospect, IL, renters typically need to show $8,241 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Mount Prospect, IL?
In Mount Prospect, IL, the price-to-rent ratio is 13.0, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Mount Prospect, IL are best for renting a home?
The best neighborhood for renting in Mount Prospect, IL depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a home include Edgewater, Lakeview East, Old Town, River North and South Hoffman Estates, each with its own character and price range.

Rental Trends in Mount Prospect, IL

There are currently 4 homes available for rent in Mount Prospect, IL. The median rent is $2,747 per month, with single-family homes renting at $3,200, townhouses at $2,950 and condos at $2,250.

Rental Home Trends

Number of Homes for Rent
4
Median Rent
$2,747
Median Single Family Home Rent
$3,200
Median Townhouse Rent
$2,950
Median Condo Rent
$2,250
How to Rent a Home

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