Home Values

Prospect Heights Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$210,300

  • 6.1% 1-year change
  • 1.0% 1-year forecast

Market Temperature

Based on three metrics—sale-to-list price ratio, the prevalence of price cuts on home listings, and time-on-market—the market temperature provides information on the current balance of bargaining power between buyers and sellers in this city relative to other cities in the same metropolitan area. A particular city may be identified as a good market for buyers in a metro market favorable to sellers overall. Learn more

Very Hot

Buyers' Market
Sellers' Market

The median home value in Prospect Heights is $210,300. Prospect Heights home values have gone up 6.1% over the past year and Zillow predicts they will rise 1.0% within the next year. The median list price per square foot in Prospect Heights is None. The median rent price in Prospect Heights is $1,383, which is lower than the Chicago Metro median of $1,572.

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Prospect Heights is 5.7%, which is lower than the national value of 6.3%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Prospect Heights homeowners underwater on their mortgage is 29.4%, which is higher than Chicago Metro at 25.1%.

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Relative ZHVI
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Prospect Heights Market Overview

Data through Apr 30, 2015
  • $210,300 ZHVI
  • 1.0% 1-yr forecast
    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more
    (Apr 30, 2016)
  • No data Median listing price
  • $213,500 Median sale price
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Prospect Heights Market Health

Data through Apr 30, 2015
  • 0.3/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
    (Feb 28, 2015)
  • No data Average days on Zillow
  • 29.4% Homes with negative equity (16.9% US Avg) (Dec 31, 2014)
  • 5.7% Delinquent on mortgage (6.3% US Avg) (Dec 31, 2014)
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Nearby Cities

Name Median ZHVI
Riverwoods $626,500
Northbrook $492,100
Deerfield $452,900
Name Median ZHVI
Lincolnshire $420,000
Arlington Heights $298,600
Buffalo Grove $260,100
Name Median ZHVI
Mount Prospect $259,900
Des Plaines $204,300
Wheeling $135,600

Listings & Sales

  • No data
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Prospect Heights Rentals

Data through Apr 30, 2015
  • Zillow Rent Index

  • $1,661 Prospect Heights
    $1,610 Chicago Metro
    $1,364 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 2.8 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Dec 31, 2014)
  • No recent data Rent list price
  • No recent data Rent list price / sq ft
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