Living in Prospect, Maine
Cost of living, income, home prices, rent and demographics of Prospect · Census data 2020–2024
Prospect has 923 residents with a median age of 45.2. The median household income is $81,250 (9% higher than the Maine median), the median home value is $196,500, the median rent is $1,107/month.
Prospect is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Prospect at a glance
- Population
- 923
- Median age
- 45.2State: 44.8
- Median household income
- $81,250State: $74,733
- Median home value
- $196,500State: $296,600
- Median rent
- $1,107/moState: $1,139
- Homeowners
- 88.8%
- Bachelor's degree or higher
- 22.3%
- Average commute
- 33 min
Is Prospect a good place to live?
Pros: Median household income 9% higher than the Maine median; home values 34% lower than the state median; a poverty rate of 7.3%.
Cons: An average commute of 33 minutes; unemployment of 5.1%.
The weather is best in June to September.
Cost of living in Prospect
Housing is the biggest part of the cost of living. In Prospect the median home value is $196,500, 41% lower than the U.S. median. Renters pay a median of $1,107 per month, which is 15% of household income. Homeowners with a mortgage pay $1,383 a month in housing costs.
Prospect median household income
The median household income in Prospect is $81,250 and the income per person is $34,387. 7.3% of residents live below the poverty line (Maine: 10.7%).
Housing in Prospect: homes for sale and rent
- Housing units
- 379
- Owner-occupied
- 88.8%
- Renter-occupied
- 11.2%
- Vacant
- 0.8%Includes seasonal homes
- Median year built
- 1998
- Average household size
- 2.45
Prospect demographics
- Population
- 923
- Median age
- 45.2
- Under 18
- 25.2%
- 65 and older
- 19.8%
- Households
- 376
- Foreign-born
- 1.3%
- Veterans
- 8.7%Adults 18+
Hispanic or Latino can be of any race. Population history of Prospect ›
Education in Prospect
22.3% of adults 25 and older in Prospect have a bachelor's degree or higher (Maine: 36.2%), and 6.9% have a graduate or professional degree.
Jobs and commute in Prospect
- Unemployment rate
- 5.1%State: 3.8%
- Average commute
- 33 minState: 25 min
- Work from home
- 6.2%
- Drive alone
- 87.9%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 95.2%
Prospect vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Prospect | 923 | $81,250 | $196,500 | $1,107 |
| Frankfort | 1,098 | $80,000 | $211,300 | $850 |
| Stockton Springs | 1,652 | $74,886 | $259,100 | $1,397 |
| Verona Island | 481 | $61,607 | $243,600 | — |
| Winterport | 3,850 | $98,333 | $283,000 | — |
| Searsport | 2,655 | $64,303 | $224,400 | $1,105 |
| Swanville | 1,195 | $51,935 | $237,300 | $1,191 |
| Bucksport | 5,016 | $64,720 | $252,300 | $882 |
| Monroe | 1,001 | $81,300 | $220,300 | $1,165 |
More for people moving to Prospect
Prospect ZIP code ›Weather and climate ›Living in Prospect: FAQ
What is the median household income in Prospect, ME?
The median household income in Prospect is $81,250, 9% higher than the Maine median of $74,733 (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 $196,500, compared with $296,600 in Maine.
How much is rent in Prospect?
The median gross rent in Prospect is $1,107 per month, about 15% of household income.
Is Prospect, ME a good place to live?
Pluses: median household income 9% higher than the Maine median; home values 34% lower than the state median; a poverty rate of 7.3%. Minuses: an average commute of 33 minutes; unemployment of 5.1%.
What is the median age in Prospect?
The median age in Prospect is 45.2 years (Maine: 44.8).
How long is the commute in Prospect?
The average commute to work in Prospect is 33 minutes; 6.2% of workers work from home.
What is the unemployment rate in Prospect?
The unemployment rate in Prospect is 5.1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Prospect?
22.3% 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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