Is Austin, TX cheaper than Mount Prospect, IL?

Based on cost of living data, Austin, TX is 4.2% more expensive than Mount Prospect, IL. This translates to spending an extra $312 per month.

What salary do I need in Austin, TX to live like I do in Mount Prospect, IL?

If you earn $150,000 in Mount Prospect, IL, you'd need approximately $153,740.521 in Austin, TX to maintain the same standard of living.

How does housing cost compare between Mount Prospect, IL and Austin, TX?

Housing in Austin, TX is 14.3% more expensive than in Mount Prospect, IL. For a two-bedroom apartment, rent is $1,995/month in Austin, TX compared to $1,485/month in Mount Prospect, IL.

How much can I save per month by moving from Mount Prospect, IL to Austin, TX?

Living in Austin, TX costs approximately $312 more per month than Mount Prospect, IL, or $3741 more per year, based on a $150,000 salary.

Mount Prospect, IL vs Austin, TX: Cost of Living Comparison 2026

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Cost of Living Comparison 2026

📍 Mount Prospect, IL — ZIP-level rent data · COL adjusted from Chicago, IL area

Current salary in Mount Prospect, IL

Numbers update automatically as you type

You'd spend $312/month more in Austin, TX

$150.0K in your current city equals $153.7K in Austin, TX

Rent data from HUD ZIP-level estimates · COL index from Chicago-Naperville-Elgin, IL-IN-WI area

Overall Cost

↑ 4.2%

More expensive

Monthly Impact

$312

Extra cost

Annual Impact

$3.7K

Per year

Based on monthly living costs (rent, groceries, utilities, transport, healthcare). Home purchase prices shown separately below.

Mount Prospect, IL

Population:54K

Cost Index:100

Median Home:$416K

Austin, TX

Population:979K

Cost Index:104

Median Home:$558K

Mount Prospect, IL

The Prairie State

54K

Population

State Tax

Yes

Located in Illinois, this city has a population of 54K residents.

Austin, TX

The Lone Star State

979K

Population

State Tax

No Income Tax

Climate

Humid subtropical

Notable Facts

•Live music capital
•Major tech hub
•SXSW festival city

Major Industries

TechnologyMusic IndustryEducationGovernment

Cost Breakdown by Category

Annual spending: Mount Prospect, IL vs Austin, TX

Category	Mount Prospect, IL	Austin, TX	Difference	Change
🏠Housing	$2,525/mo	$2,885/mo	↑ $360more	14.3%
🚗Transportation	$1,537/mo	$1,284/mo	↓ $253less	16.5%
📦Other	$1,608/mo	$1,741/mo	↑ $133more	8.3%
⚡All Utilities	$496/mo	$541/mo	↑ $44.46more	9.0%
🛒Groceries	$984/mo	$959/mo	↓ $25.13less	2.6%
🏥Healthcare	$569/mo	$589/mo	↑ $19.71more	3.5%

🏠Housing

↑ 14.3%

Mount Prospect, IL

$2,525

Austin, TX

$2,885

Difference

$360

🚗Transportation

↓ 16.5%

Mount Prospect, IL

$1,537

Austin, TX

$1,284

Difference

$253

less

📦Other

↑ 8.3%

Mount Prospect, IL

$1,608

Austin, TX

$1,741

Difference

$133

⚡All Utilities

↑ 9.0%

Mount Prospect, IL

$496

Austin, TX

$541

Difference

$44.46

🛒Groceries

↓ 2.6%

Mount Prospect, IL

$984

Austin, TX

$959

Difference

$25.13

less

🏥Healthcare

↑ 3.5%

Mount Prospect, IL

$569

Austin, TX

$589

Difference

$19.71

🏠Rent Comparison

Studio

From$1,236

To$1,585

↑ $349

1 Bed

From$1,322

To$1,685

↑ $363

2 Bed

From$1,485

To$1,995

↑ $510

3 Bed

From$1,913

To$2,525

↑ $612

Mount Prospect, ILZIP-level data

1BR range: $1,700–$1,700/mo

Austin, TXZIP-level data

1BR range: $1,490–$2,350/mo

💡 Note: Rent prices are based on HUD Fair Market Rent data and represent median costs. Actual prices vary by neighborhood, amenities, and condition. Source: HUD Small Area Fair Market Rents FY2026.

$7,719

Monthly in Mount Prospect, IL

$7,998

Monthly in Austin, TX

$279

Difference

Home Values

Mount Prospect

Austin

$416K

Median Value

$558K

↑ +6.5%

YoY Change

↓ -5%

↑ +37.7%

5-Year Change

↑ +12.6%

$416K

Price Range

$272K - $1.26M

Homes in Austin are 34% more expensive than Mount Prospect

Calculate payment - Mount Prospect Calculate payment - Austin

Source: Zillow Home Value Index (ZHVI), January 2026

Tax Comparison

Annual tax burden comparison at $150.0K salary

Tax Savings

↑ $7.4K

Per year

Monthly Difference

$619

More take-home

Effective Rate Diff

4.9%

Rate difference

Mount Prospect, IL

Federal Income Tax

Effective: 18.9%

$25.5K

Illinois State Tax

Effective: 5.0%

$7.4K

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 29.6%

$44.4K

Take-Home Pay

$8,797/month

$105.6K

Austin, TX

Federal Income Tax

Effective: 18.9%

$25.5K

Texas State Tax

No state income tax

FICA Taxes

Social Security + Medicare

$11.5K

Total Taxes

Effective: 24.7%

$37.0K

Take-Home Pay

$9,416/month

$113.0K

Additional Tax Information

Mount Prospect, IL Tax Rates

Sales Tax:8.8%

Property Tax:2.2%

Austin, TX Tax Rates

Sales Tax:8.2%

Property Tax:1.8%

💡 Note: Tax calculations are estimates based on 2024/2025 tax brackets for single filers with standard deduction. Actual taxes may vary based on filing status, deductions, credits, and local variations.