Montgomery, IL vs Mount Prospect, IL

Montgomery, IL and Mount Prospect, IL have a very similar cost of living, with only a 4.3% difference in their overall index. Montgomery scores 116 while Mount Prospect scores 111 on the cost of living index, where 100 represents the national average. The day-to-day expenses for residents in both cities are comparable, though differences emerge when looking at specific categories.

On the housing front, median rent in Montgomery is $1,897/month compared to $1,454/month in Mount Prospect — a 31% difference. Interestingly, home values tell a different story: while Mount Prospect has cheaper rent, Montgomery actually has lower median home values ($270,700 vs $377,000).

Median household income in Montgomery is $96,985 compared to $103,911 in Mount Prospect (-6.7%). Mount Prospect offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Montgomery spend roughly 23.5% of their income on rent, more than the 16.8% in Mount Prospect.

Climate-wise, both cities share similar average temperatures (49.4°F vs 50.8°F). Montgomery receives more rainfall at 33.8" per year compared to 32.3" in Mount Prospect.