close
View Me
Rent Specials
$995Studio Apartments Available Dec 1
16 W Busse Ave
16 W Busse AveMount Prospect, IL 60056
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.
close
View Me
$1,218 - $3,9191 to 3 Bedroom Apartments Available Now
Mount Prospect Greens
2000 W Algonquin RdMount Prospect, IL 60056
Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
close
View Me
$1,444 - $3,9801 to 3 Bedroom Apartments Available Now
The Element
1550 W Dempster StMount Prospect, IL 60056
1100 N Wheeling Rd
Mount ProspectIL60056
close
View Me
close
View Me
close
View Me
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.
close
View Me
close
View Me
close
View Me
Showing Results 1-15, Page 1 of 1
Downtown Mount Prospect, Mount Prospect, IL Local Guide
Camp Pine Woods Illinoisc by Amanda Landers is licensed under CC BY 2.0
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 | $1,968 | $995 | $2,165 |
| Downtown Mount Prospect 1 Bedroom Apartments | $2,052 | $1,217 | $2,690 |
| Downtown Mount Prospect 2 Bedroom Apartments | $2,447 | $1,445 | $3,919 |
| Downtown Mount Prospect 3 Bedroom Apartments | $2,856 | $1,781 | $7,582 |
| Downtown Mount Prospect 4 Bedroom Apartments | $8,116 | $8,116 | $8,116 |
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
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
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 $1,452. The Element has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,457. 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 | $1,452 |
| The Element | Birch | 1BR,1BA | $1,457 |
| The Eclipse at 1450 | Willow | 1BR,1BA | $1,538 |
| Orion Arlington Lakes | Lincoln | 1BR,1BA | $1,595 |
| Mount Prospect Greens | 2x1AP - Partial Renovated Evanston | 2BR,1BA | $1,649 |
Best Value Apartments for Rent in Downtown Mount Prospect, IL
As of September 20, 2025 the best value apartment in the Downtown Mount Prospect area is the $1.92 price per square foot 315 W Prospect Ave Model at 315 W Prospect Ave, Unit 1 in the in the Downtown Mount Prospect neighborhood starting from $2,500. The second greatest value Downtown Mount Prospect apartment is the Sheridan Model at Orion Arlington Lakes starting at $2,065 with a $1.74 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. |
|---|---|---|---|
| 315 W Prospect Ave, Unit 1 | 315 W Prospect Ave | 3BR,1.5BA | $1.92 |
| Orion Arlington Lakes | Sheridan | 2BR,2BA | $1.74 |
| HQ Residences | HQ-2A | 2BR,2BA | $2.59 |
| Buckingham | b1-buck | 2BR,2BA | $2.46 |
| Mount Prospect Greens | 2x1AR - Renovated Evanston | 2BR,1BA | $1.91 |
| Orion ParkView | Wells - Renovated | 2BR,2BA | $2.62 |
| 488 E 5th Ct, Unit B | 488 E 5th Ct | 1BR,1BA | $1.75 |
| The Eclipse at 1450 | Willow | 1BR,1BA | $2.18 |
| The Element | Birch | 1BR,1BA | $2.26 |
| Huntington Square | 1A-218 | 1BR,1BA | $2.46 |
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.
Let everyone know!
Do you know the Downtown Mount Prospect area?
If you’re an expert on all things Downtown Mount Prospect, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Pet Friendly LifestyleDowntown Mount Prospect, Mount Prospect, IL
Ranked #1
Among cities in Illinois 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
Mount Prospect School District 57
Public School - Grades 2-5 (454)
10 out of 10
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 the Cheapest Studio apartment in Downtown Mount Prospect?
Currently the most affordable Cheap Studio Apartment in Downtown Mount Prospect is at 4 North Apartments listed at $1,875.
How much is rent for a Cheap One Bedroom Downtown Mount Prospect Apartment?
The lowest price for a Cheap One Bedroom Downtown Mount Prospect Apartment is $1,466 at The Element.
What is the lowest price for a Cheap Two Bedroom Downtown Mount Prospect Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Downtown Mount Prospect is starting from $1,607 at The Eclipse at 1450.
What is the most affordable Downtown Mount Prospect Three Bedroom Apartment?
The best deal on a cheap Downtown Mount Prospect Three Bedroom Apartment rental is at The Element and starts from $2,745.
Expert Rental Resources
Helpful Apartment Articles, How-To's and Tips
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.
A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Chicago
Written by: Nicole Harms
I’m Nicole, your ApartmentHomeLiving.com Local Expert for Chicago, IL. As a resident of the Chicago area for over 20 years, I’ve learned which neighborhoods are great and which are best avoided.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!
The Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.