Living in Prospect, Kentucky
Cost of living, income, home prices, rent and demographics of Prospect · Census data 2020–2024
Prospect has 4,542 residents with a median age of 54.5. The median household income is $163,462 (157% higher than the Kentucky median), the median home value is $538,400, the median rent is $1,193/month.
Prospect at a glance
- Population
- 4,542
- Median age
- 54.5State: 39.1
- Median household income
- $163,462State: $63,726
- Median home value
- $538,400State: $205,600
- Median rent
- $1,193/moState: $967
- Homeowners
- 93.3%
- Bachelor's degree or higher
- 74.4%
- Average commute
- 22 min
Is Prospect a good place to live?
Pros: Median household income 157% higher than the Kentucky median; an average commute of 22 minutes; unemployment of 4.2%; a poverty rate of 2.4%.
Cons: Home values 162% higher than the state median.
The weather is best in May and August to October.
Cost of living in Prospect
Housing is the biggest part of the cost of living. In Prospect the median home value is $538,400, 62% higher than the U.S. median. Renters pay a median of $1,193 per month, which is 30.4% of household income. Homeowners with a mortgage pay $2,944 a month in housing costs.
Prospect median household income
The median household income in Prospect is $163,462 and the income per person is $101,504. 2.4% of residents live below the poverty line (Kentucky: 16.1%).
Housing in Prospect: homes for sale and rent
- Housing units
- 2,088
- Owner-occupied
- 93.3%
- Renter-occupied
- 6.7%
- Vacant
- 6.2%Includes seasonal homes
- Median year built
- 1990
- Average household size
- 2.32
Prospect demographics
- Population
- 4,542
- Median age
- 54.5
- Under 18
- 18.6%
- 65 and older
- 30.5%
- Households
- 1,958
- Foreign-born
- 6%
- Veterans
- 4.4%Adults 18+
Hispanic or Latino can be of any race. Population history of Prospect ›
Education in Prospect
74.4% of adults 25 and older in Prospect have a bachelor's degree or higher (Kentucky: 27.6%), and 39.4% have a graduate or professional degree.
Jobs and commute in Prospect
- Unemployment rate
- 4.2%State: 4.9%
- Average commute
- 22 minState: 24 min
- Work from home
- 20%
- Drive alone
- 67.8%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 97.8%
Prospect vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Prospect | 4,542 | $163,462 | $538,400 | $1,193 |
| River Bluff | 445 | $148,750 | $429,900 | — |
| Green Spring | 589 | $170,313 | $457,800 | $2,287 |
| Utica | 1,028 | $84,886 | $241,300 | $1,375 |
| Brownsboro Farm | 604 | $146,563 | $404,900 | — |
| Hills and Dales | 134 | $115,625 | $528,400 | — |
| Barbourmeade | 1,247 | $116,875 | $384,900 | — |
| Spring Valley | 707 | $150,750 | $429,200 | — |
| Manor Creek | 221 | $158,750 | $364,200 | — |
More for people moving to Prospect
Prospect ZIP code ›Weather and climate ›Living in Prospect: FAQ
What is the median household income in Prospect, KY?
The median household income in Prospect is $163,462, 157% higher than the Kentucky median of $63,726 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Prospect?
The median home value in Prospect is $538,400, compared with $205,600 in Kentucky.
How much is rent in Prospect?
The median gross rent in Prospect is $1,193 per month, about 30.4% of household income.
Is Prospect, KY a good place to live?
Pluses: median household income 157% higher than the Kentucky median; an average commute of 22 minutes; unemployment of 4.2%; a poverty rate of 2.4%. Minuses: home values 162% higher than the state median.
What is the median age in Prospect?
The median age in Prospect is 54.5 years (Kentucky: 39.1).
How long is the commute in Prospect?
The average commute to work in Prospect is 22 minutes; 20% of workers work from home.
What is the unemployment rate in Prospect?
The unemployment rate in Prospect is 4.2% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Prospect?
74.4% of adults in Prospect have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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