Deerfield, IL vs Mount Prospect, IL

The cost of living difference between Deerfield, IL and Mount Prospect, IL is dramatic. Mount Prospect is 41.5% cheaper than Deerfield, a gap that translates to thousands of dollars per year in household expenses. Deerfield has a cost index of 157 while Mount Prospect sits at 111, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Deerfield is $2,345/month compared to $1,454/month in Mount Prospect — a 61% difference. Home values follow the same pattern: Mount Prospect is more affordable at $377,000 median vs $608,600.

Median household income in Deerfield is $189,705 compared to $103,911 in Mount Prospect (+82.6%). While Deerfield is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Deerfield spend roughly 14.8% of their income on rent, less than the 16.8% in Mount Prospect.