A faucet spout having an adjustable height relative to a stationary base or surface to which it may be mounted. A spout tube is slideably engaged within a spout body in which a support member is housed. The support member is received within the spout tube and provides a positive stop at a lowest position. A ratchet assembly within the support member engages the end of the spout tube at any one of a series of ratchet teeth providing a variety of additional stops/heights at which the spout tube may be retained for operation. A release button withdraws the ratchet arm and permits the spout tube to return to the first stop at its lowest point.