Mount Prospect village, Illinois Demographics & Population 2026

Population Overview

Mount Prospect village is a mid-sized community located in Illinois. The total population is 55,648. It ranks as the 24th most populous out of 1,445 cities and towns in Illinois.

Age Demographics

The median age in Mount Prospect village is 41.7 years. This is 7% higher than the state median of 38.9 years.

Economy, Income & Housing

The median household income in Mount Prospect village is $103,911. This is 27% higher than the state median of $81,702. Compared to the national median of $78,538, household income here is 32% higher. The poverty rate stands at 5.9%. This is 49% lower than the state poverty rate of 11.7%. The unemployment rate is 3.6%. This is 38% lower than the state rate of 5.8%. The median home value is $377,000. Housing costs are 50% higher than the state median of $250,500. The home-value-to-income ratio is 3.6x. 70.0% of occupied housing units are owner-occupied. This homeownership rate is 5% higher than the state average of 66.8%.

Race & Ethnicity

The largest racial or ethnic group in Mount Prospect village is White (non-Hispanic), making up 63.3% of the population. Hispanic or Latino residents account for 16.2%. The Black or African American population (2.5%) is well below the state average of 13.6%. The Asian population is significantly higher than the state average (14.5% vs 5.8%).

Education

48.6% of residents aged 25 and older hold a bachelor's degree or higher. This places Mount Prospect village in the top 10% of all cities in the state for educational attainment. This is 31% higher than the state rate of 37.2%. Nationally, 35.0% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 91.7%. Notably, 17.5% of adults hold a graduate or professional degree, indicating a highly educated workforce.

Data Sources & Methodology

All demographic data for Mount Prospect village, Illinois is sourced from the U.S. Census Bureau's American Community Survey (ACS) 5-Year Estimates (2019-2023). The ACS collects data from approximately 3.5 million households annually, providing reliable estimates for communities of all sizes. Comparisons are made against Illinois state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 1,445 Census-designated places in Illinois. For official data, visit data.census.gov.