Home Insurance in Prospect Heights, Illinois
The median home value in Prospect Heights is $346,500, 7% higher than the Cook County median.
The typical home in Prospect Heights was built around 1976. About 19% of homes were built before 1960, about 30 points below Cook County's 49%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
Housing in Prospect Heights breaks down to 48% single-family homes and 44% apartments in buildings with 5+ units.
47% of owner-occupied homes in Prospect Heights carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 67% of occupied homes in Prospect Heights are owner-occupied. The vacancy rate is 3%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
In Prospect Heights, 69% of homes are primarily heated with natural gas.
Cook County's top FEMA-rated hazard is winter weather (Very High), per FEMA's National Risk Index. Cook County had 11,554 active NFIP flood policies as of September 2026. See the full Cook County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Illinois is $1,480 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $346,500 |
|---|---|
| Median year built | 1976 |
| Owner-occupied share | 67% |
| Share of owner-occupied homes with a mortgage | 47% |
| Top county hazard | Winter Weather (Very High) |
| Active NFIP policies in Cook County | 11,554 |
| Home insurance premium | $1,480 - statewide average (NAIC, 2023 data) |
Nearby towns
- Wheeling
- Arlington Heights
- Mount Prospect
- Buffalo Grove
- Des Plaines
- Riverwoods
- Rolling Meadows
- Glenview
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)