
Cheap Apartments for Rent in the Downtown Mount Prospect Neighborhood of Mount Prospect, IL from $900 (15 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Mount Prospect area of Mount Prospect.


Mount Prospect Greens

The Eclipse at 1450
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Downtown Mount Prospect, Mount Prospect, IL Local Guide

How much does it cost to rent an apartment in Downtown Mount Prospect?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Downtown Mount Prospect Studio Apartments | $2,169 | $1,245 | $2,946 |
Downtown Mount Prospect 1 Bedroom Apartments | $2,061 | $1,300 | $3,999 |
Downtown Mount Prospect 2 Bedroom Apartments | $2,777 | $1,607 | $4,909 |
Downtown Mount Prospect 3 Bedroom Apartments | $3,457 | $2,100 | $8,357 |
Browse Apartments in this Neighborhood
There are currently 15 rentals with your search options within a 2 mile radius of the Downtown Mount Prospect Neighborhood of Mount Prospect, IL.
See all Apartments in Mount ProspectExplore Mount Prospect
Downtown Mount Prospect, Mount Prospect, IL Local Guide
- Nearby Mount Prospect neighborhoods
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Cheapest Available Downtown Mount Prospect Apartments for Rent
 The cheapest available apartment rental in the Downtown Mount Prospect area of Chicago, IL is a 1 Bed unit found at Orion ParkView priced from $1,464. ReNew Des Plaines North has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,510. Here are the most affordable Downtown Mount Prospect apartments for rent in Chicago, IL:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Orion ParkView | Monroe | 1BR,1BA | $1,464 |
ReNew Des Plaines North | Des Plaines North - 1x1 | 1BR,1BA | $1,510 |
The Element | Cedar | 1BR,1BA | $1,513 |
Residences at Arlington Heights | The Meadow | 1BR,1BA | $1,534 |
Mount Prospect Greens | 1x1BP - Partial Renovated Arlington | 1BR,1BA | $1,589 |
Best Value Apartments for Rent in Downtown Mount Prospect, IL
As of May 17, 2025 the best value apartment in the Downtown Mount Prospect area is the $1.87 price per square foot 651 Beau Ct Model at 651 Beau Ct, Unit # 3 in the in the Downtown Mount Prospect neighborhood starting from $2,800. The second greatest value Downtown Mount Prospect apartment is the Lincoln - Renovated Model at Orion Arlington Lakes starting at $1,978 with a $1.87 price per square foot in the Downtown Mount Prospect neighborhood. Here is today’s list of the best values for Downtown Mount Prospect apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
651 Beau Ct, Unit # 3 | 651 Beau Ct | 3BR,2BA | $1.87 |
Orion Arlington Lakes | Lincoln - Renovated | 1BR,1BA | $1.87 |
Buckingham | a3-buck | 1BR,1BA | $2.22 |
Mount Prospect Greens | 2x1AR - Renovated Evanston | 2BR,1BA | $2.14 |
488 E 5th Ct, Unit B | 488 E 5th Ct | 1BR,1BA | $1.63 |
Central Park East | A1 | 1BR,1BA | $2.68 |
Orion ParkView | Monroe - Renovated | 1BR,1BA | $2.43 |
ReNew Des Plaines North | Des Plaines North - 1x1 | 1BR,1BA | $2.13 |
The Element | Cedar | 1BR,1BA | $2.16 |
Residences at Arlington Heights | The Woodfield | 1BR,1BA | $2.60 |
Quick Rent Budget Calculator
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
Pet Friendly LifestyleDowntown Mount Prospect, Mount Prospect, IL
Ranked #2
Among neighborhoods in Mount Prospect, IL for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Best Local Schools in Downtown Mount Prospect, Mount Prospect, IL
Lions Park Elementary School
School data provided by Great Schools
Getting Around the Downtown Mount Prospect Neighborhood in Mount Prospect, IL
Walk Score®
79 / 100
Very Walkable
Most errands can be accomplished on foot
Bike Score®
60 / 100
Bikeable
Some bike infrastructure
Transit Score®
34 / 100
Some Transit
A few nearby public transportation options
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap Downtown Mount Prospect Apartments
What is a cheap apartment in Downtown Mount Prospect?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Mount Prospect is under $1,978.
What is the price of a cheap apartment in Downtown Mount Prospect?
The cheapest apartment in Downtown Mount Prospect is Orion ParkView which is listed at $1,464, while the average apartment in Downtown Mount Prospect costs $2,518.
What types of apartments are the cheapest in Downtown Mount Prospect?
Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 17 regular apartments in Downtown Mount Prospect that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Downtown Mount Prospect?
Cheap apartments in Downtown Mount Prospect have an average cost of $405 which is $2,113 cheaper than the average rent for all rentals in Downtown Mount Prospect.
Expert Rental Resources
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