Libertyville, IL vs Mount Prospect, IL

Mount Prospect is moderately more affordable than Libertyville, with a 11.3% lower cost of living index. Libertyville scores 123 compared to 111 for Mount Prospect, where the US average is 100. This difference means residents of Libertyville can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Libertyville is $1,537/month compared to $1,454/month in Mount Prospect — a 6% difference. Home values follow the same pattern: Mount Prospect is more affordable at $377,000 median vs $499,300.

Median household income in Libertyville is $162,270 compared to $103,911 in Mount Prospect (+56.2%). While Libertyville is more expensive, its higher salaries more than compensate — residents there may actually end up with more disposable income. Looking at affordability, residents of Libertyville spend roughly 11.4% of their income on rent, less than the 16.8% in Mount Prospect.

Climate-wise, both cities share similar average temperatures (48.3°F vs 50.8°F). Libertyville receives more rainfall at 35.3" per year compared to 32.3" in Mount Prospect.