Mount Prospect, Illinois Income Statistics
Updated
Mount Prospect Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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B
Mount Prospect Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Mount Prospect | Illinois Avg | US Average |
|---|---|---|---|
| Median Household Income | $100,972 | $84,042 | $80,455 |
| Median Personal Income | $71,452 | $64,565 | $60,758 |
| Average Yearly Income Growth | 4.8% | 4.5% | 4.8% |
| Six-Figure Earners | 18.8% | 15.0% | 13.9% |
| $200k+ Households | 16.9% | 13.8% | 13.2% |
The median household income in Mount Prospect is about 20% higher than in Illinois. Income has been growing faster in Mount Prospect (4.8%/yr) than in Illinois (4.5%/yr).
About 19% of adults in Mount Prospect earn six figures ($100,000 or more) a year, higher than the Illinois average of 15%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Mount Prospect, Illinois grew by 55.9% from 2009 to 2024, reaching $100,972 in 2024. That's an average of about 4.8% per year.
Mount Prospect has been far above the U.S. median household income in every year from 2009 to 2024. Even at its closest, in 2024, its income was 26% higher. The gap has held fairly steady over the period.
Income Distribution in Mount Prospect
How incomes are spread across brackets, compared with the U.S. Pick a range to count who falls in it.
Households by income, 2024
Income range calculator
About 10,630 households (50.4% of all households) have an income of $100,000 or more.
Across the U.S.: 40.2% of all households.
In 2024, 15.3% of households in Mount Prospect had an income under $35,000 and 31.6% had $150,000 or more. Across the U.S., those shares were 21.6% and 22.8%.
Compared with the U.S., Mount Prospect has a larger share of households earning $150,000 to $199,999 (14.7% vs 9.5%) and a smaller share earning $50,000 to $74,999 (11.8% vs 15.5%).
| Household income | Households | Share | U.S. share |
|---|---|---|---|
| Under $10,000 | 653 | 3.1% | 5.1% |
| $10,000 to $14,999 | 412 | 2.0% | 3.5% |
| $15,000 to $24,999 | 1,107 | 5.3% | 6.4% |
| $25,000 to $34,999 | 1,063 | 5.0% | 6.7% |
| $35,000 to $49,999 | 2,123 | 10.1% | 10.1% |
| $50,000 to $74,999 | 2,491 | 11.8% | 15.5% |
| $75,000 to $99,999 | 2,604 | 12.4% | 12.6% |
| $100,000 to $149,999 | 3,977 | 18.9% | 17.4% |
| $150,000 to $199,999 | 3,097 | 14.7% | 9.5% |
| $200,000 or more | 3,557 | 16.9% | 13.2% |
Shares are of all 21,084 households, one per occupied home whatever its size. Households with zero or negative income are counted in the lowest bracket. Source: ACS 5-year estimates ending 2024 (table B19001).
Residents 15+ by personal income, 2024
Income range calculator
About 8,331 residents (18.8% of residents aged 15 and over) have a personal income of $100,000 or more.
Across the U.S.: 13.9% of residents aged 15 and over.
That is 21.3% of residents who have any income.
In 2024, 11.9% of Mount Prospect residents aged 15 and over reported no personal income, 24.1% had some income but less than $25,000, and 29.3% had $75,000 or more. Across the U.S., those shares were 12.8%, 28.7% and 22.0%.
Compared with the U.S., Mount Prospect has a larger share of residents earning $100,000 or more (18.8% vs 13.9%) and a smaller share earning $15,000 to $24,999 (8.5% vs 10.5%).
| Personal income | Residents | Share | U.S. share |
|---|---|---|---|
| No income | 5,262 | 11.9% | 12.8% |
| $1 to $9,999 | 4,367 | 9.9% | 11.2% |
| $10,000 to $14,999 | 2,524 | 5.7% | 7.0% |
| $15,000 to $24,999 | 3,784 | 8.5% | 10.5% |
| $25,000 to $34,999 | 3,445 | 7.8% | 9.5% |
| $35,000 to $49,999 | 5,383 | 12.1% | 12.6% |
| $50,000 to $74,999 | 6,569 | 14.8% | 14.3% |
| $75,000 to $99,999 | 4,646 | 10.5% | 8.2% |
| $100,000 or more | 8,331 | 18.8% | 13.9% |
Shares are of the 44,310 residents aged 15 and over, the only people the Census Bureau asks about income, and include those who reported none. A share of the whole population would count children as people without income, while a share of earners alone would hide the 11.9% with no income; the calculator adds that second share whenever your range leaves out people with no income. Source: ACS 5-year estimates ending 2024 (table B19325).
Income Inequality and the Gender Pay Gap in Mount Prospect
| Metric | Mount Prospect | Illinois Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.530 | 0.547 | 0.552 |
| Male Median Income | $80,229 | $73,933 | $69,667 |
| Female Median Income | $70,481 | $60,067 | $56,850 |
| Gender Pay Gap | 12.1% | 18.8% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Mount Prospect, it is 0.530, lower than Illinois's 0.547, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 14% more than women's income in Mount Prospect, Illinois. Over a 35-year career, a 14% wage gap accumulates to roughly $341,180 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Mount Prospect, Illinois has widened from about 10% to 12% in 2024. Over that period the gap was widest at 19% in 2019. In dollar terms, the gap has widened by $4,719 since 2009.
Sharply against the trend: the pay gap in Mount Prospect widened by 2.6 points while Illinois's narrowed by 6.5 points.
Employment
| Metric | Mount Prospect | Illinois Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 4.1% | 5.8% | 5.2% |
| Working from Home | 18.8% | 15.9% | 15.0% |
| Commute time (minutes) | 22 | 23 | 22 |
Approximately 1,209 people are unemployed in Mount Prospect, Illinois.
The average commute time in Mount Prospect is 22 minutes, shorter than the 23 minutes in Illinois.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Mount Prospect, Illinois has fallen from 7.1% to 4.1% in 2024. Over that period the rate peaked at 7.5% in 2012 and fell as low as 3.4% in 2020.
Mount Prospect has stayed well below the U.S. unemployment rate in every year from 2011 to 2024 and has never risen above it. It came closest in 2023, at 1.0 point lower. The gap has narrowed from 1.6 points in 2011 to 1.1 points in 2024.
Mount Prospect, IL Wealth Compared With Nearby Cities
Mount Prospect, IL is typical in size for this group, 54,782 residents against a local median of 48,770, so the measures below are close to a like for like comparison. Nothing separates Mount Prospect, IL sharply from the cities around it. Each measure below lands within 15% of the local median, close enough that the differences are within what survey sampling alone would produce.
The largest of those small differences is median household income, 9% above the local median at $100,972 against $92,838. Mount Prospect, IL has the 2nd highest median household income of the 5 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Mount Prospect, IL | 54,782 | $100,972 #2/5 | 4.8%/yr #2/5 | 4.1% #3/5 | 0.530 #3/5 |
| Des Plaines, IL | 61,932 | $92,817 | 4.9%/yr | 4.6% | 0.541 |
| Arlington Heights, IL | 77,229 | $114,070 | 4.7%/yr | 3.6% | 0.512 |
| Wheeling, IL | 35,608 | $86,844 | 4.7%/yr | 4.5% | 0.522 |
| Elk Grove Village, IL | 27,591 | $92,860 | 3.8%/yr | 4.1% | 0.531 |
Conclusion
Considering all these factors, Mount Prospect, Illinois has an overall wealth index grade of B, making it somewhat better than Illinois, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Mount Prospect, Illinois.
How Rich Is Mount Prospect, Illinois?
Mount Prospect has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $100,972, about 20% higher than the Illinois average of $84,042.
Are incomes growing in Mount Prospect, Illinois?
Between 2009 and 2024, the median household income in Mount Prospect, Illinois rose 56%, from $64,768 to $100,972. Over the same years, income here outpaced Illinois as a whole: +56% against +52%.
What was the median household income in Mount Prospect in 2023?
In 2023, the median household income in Mount Prospect, Illinois was $100,936, up 2% from $99,005 in 2022. The Illinois median that year was $82,182.
What was the median household income in Mount Prospect in 2020?
In 2020, the median household income in Mount Prospect, Illinois was $83,677. By 2024 it had risen 21% to $100,972.
How strong is the job market in Mount Prospect, Illinois?
Unemployment in Mount Prospect, Illinois is only 4.1%, well below the Illinois rate of 5.8%, a sign of a tight labor market where employers compete for workers.
What is the Gini coefficient in Mount Prospect, Illinois?
The Gini coefficient in Mount Prospect is 0.530. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Mount Prospect, Illinois?
Since 2009, the income gap between men and women in Mount Prospect, Illinois has widened from about 10% to 12% in 2024. Over that period the gap was widest at 19% in 2019. In dollar terms, the gap has widened by $4,719 since 2009.
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