Homewood, IL vs Mount Prospect, IL

Homewood is moderately more affordable than Mount Prospect, with a 13.2% lower cost of living index. Homewood scores 96 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 Homewood is $1,422/month compared to $1,454/month in Mount Prospect — a 2% difference. Home values follow the same pattern: Homewood is more affordable at $210,500 median vs $377,000.

Median household income in Homewood is $96,522 compared to $103,911 in Mount Prospect (-7.1%). The higher salaries in Mount Prospect partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Homewood spend roughly 17.7% of their income on rent, more than the 16.8% in Mount Prospect.

Climate-wise, both cities share similar average temperatures (52.1°F vs 50.8°F). Homewood receives more rainfall at 34.4" per year compared to 32.3" in Mount Prospect.