Elmwood Park, IL vs Mount Prospect, IL

Elmwood Park is moderately more affordable than Mount Prospect, with a 8.2% lower cost of living index. Elmwood Park scores 102 compared to 111 for Mount Prospect, where the US average is 100. This difference means residents of Mount Prospect can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Elmwood Park is $1,295/month compared to $1,454/month in Mount Prospect — a 11% difference. Home values follow the same pattern: Elmwood Park is more affordable at $325,000 median vs $377,000.

Median household income in Elmwood Park is $84,121 compared to $103,911 in Mount Prospect (-19%). While Mount Prospect is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Elmwood Park spend roughly 18.5% of their income on rent, more than the 16.8% in Mount Prospect.

Climate-wise, both cities share similar average temperatures (51.3°F vs 50.8°F). Elmwood Park receives more rainfall at 37.9" per year compared to 32.3" in Mount Prospect.