Living in Prospect Park, New Jersey
Cost of living, income, home prices, rent and demographics of Prospect Park · Census data 2020–2024
Prospect Park has 6,319 residents with a median age of 36.2. The median household income is $53,125 (49% lower than the New Jersey median), the median home value is $406,800, the median rent is $1,647/month.
Prospect Park at a glance
- Population
- 6,319
- Median age
- 36.2State: 40.1
- Median household income
- $53,125State: $103,556
- Median home value
- $406,800State: $454,400
- Median rent
- $1,647/moState: $1,720
- Homeowners
- 42%
- Bachelor's degree or higher
- 31.1%
- Average commute
- 23 min
Is Prospect Park a good place to live?
Pros: Home values 10% lower than the state median; an average commute of 23 minutes.
Cons: Median household income 49% lower than the New Jersey median; unemployment of 11.5%; a poverty rate of 28.3%.
The weather is best in May–June and August–September.
Cost of living in Prospect Park
Housing is the biggest part of the cost of living. In Prospect Park the median home value is $406,800, 22% higher than the U.S. median. Renters pay a median of $1,647 per month, which is 46% of household income. Homeowners with a mortgage pay $2,763 a month in housing costs.
Prospect Park median household income
The median household income in Prospect Park is $53,125 and the income per person is $28,785. 28.3% of residents live below the poverty line (New Jersey: 9.7%).
Housing in Prospect Park: homes for sale and rent
- Housing units
- 2,184
- Owner-occupied
- 42%
- Renter-occupied
- 58%
- Vacant
- 5.4%Includes seasonal homes
- Median year built
- 1938
- Average household size
- 3.06
Prospect Park demographics
- Population
- 6,319
- Median age
- 36.2
- Under 18
- 29.3%
- 65 and older
- 12.1%
- Households
- 2,065
- Foreign-born
- 42.6%
- Veterans
- 0.3%Adults 18+
Hispanic or Latino can be of any race. Population history of Prospect Park ›
Education in Prospect Park
31.1% of adults 25 and older in Prospect Park have a bachelor's degree or higher (New Jersey: 43.6%), and 7.3% have a graduate or professional degree.
Jobs and commute in Prospect Park
- Unemployment rate
- 11.5%State: 6.3%
- Average commute
- 23 minState: 31 min
- Work from home
- 7.2%
- Drive alone
- 67.6%
- Public transit
- 1.7%
- Walk to work
- 1.3%
- Homes with broadband
- 90.1%
Prospect Park vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Prospect Park | 6,319 | $53,125 | $406,800 | $1,647 |
| Haledon | 8,980 | $95,870 | $396,400 | $1,750 |
| Hawthorne | 19,628 | $110,237 | $533,700 | $1,830 |
| North Haledon | 8,778 | $125,313 | $547,600 | $2,369 |
| Paterson | 158,735 | $55,997 | $360,100 | $1,548 |
| Preakness | 18,520 | $133,205 | $617,700 | $1,918 |
| Glen Rock | 12,154 | $215,096 | $856,900 | $1,930 |
| Fair Lawn | 35,610 | $144,574 | $564,700 | $1,917 |
| Totowa | 10,959 | $113,563 | $559,300 | $2,072 |
More for people moving to Prospect Park
Prospect Park ZIP code ›Weather and climate ›Living in Prospect Park: FAQ
What is the median household income in Prospect Park, NJ?
The median household income in Prospect Park is $53,125, 49% lower than the New Jersey median of $103,556 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Prospect Park?
The median home value in Prospect Park is $406,800, compared with $454,400 in New Jersey.
How much is rent in Prospect Park?
The median gross rent in Prospect Park is $1,647 per month, about 46% of household income.
Is Prospect Park, NJ a good place to live?
Pluses: home values 10% lower than the state median; an average commute of 23 minutes. Minuses: median household income 49% lower than the New Jersey median; unemployment of 11.5%; a poverty rate of 28.3%.
What is the median age in Prospect Park?
The median age in Prospect Park is 36.2 years (New Jersey: 40.1).
How long is the commute in Prospect Park?
The average commute to work in Prospect Park is 23 minutes; 7.2% of workers work from home.
What is the unemployment rate in Prospect Park?
The unemployment rate in Prospect Park is 11.5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Prospect Park?
31.1% of adults in Prospect Park 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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