Living in Prospect, Pennsylvania
Cost of living, income, home prices, rent and demographics of Prospect · Census data 2020–2024
Prospect has 1,157 residents with a median age of 43.5. The median household income is $88,250 (13% higher than the Pennsylvania median), the median home value is $171,300, the median rent is $873/month.
Prospect is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Prospect at a glance
- Population
- 1,157
- Median age
- 43.5State: 40.9
- Median household income
- $88,250State: $77,971
- Median home value
- $171,300State: $254,500
- Median rent
- $873/moState: $1,209
- Homeowners
- 90.6%
- Bachelor's degree or higher
- 22.2%
- Average commute
- 27 min
Is Prospect a good place to live?
Pros: Median household income 13% higher than the Pennsylvania median; home values 33% lower than the state median; unemployment of 5.1%; a poverty rate of 5.8%.
Cons: An average commute of 27 minutes.
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 $171,300, 49% lower than the U.S. median. Renters pay a median of $873 per month, which is 17.2% of household income. Homeowners with a mortgage pay $1,662 a month in housing costs.
Prospect median household income
The median household income in Prospect is $88,250 and the income per person is $37,406. 5.8% of residents live below the poverty line (Pennsylvania: 11.7%).
Housing in Prospect: homes for sale and rent
- Housing units
- 465
- Owner-occupied
- 90.6%
- Renter-occupied
- 9.4%
- Vacant
- 13.1%Includes seasonal homes
- Median year built
- 1971
- Average household size
- 2.86
Prospect demographics
- Population
- 1,157
- Median age
- 43.5
- Under 18
- 17.2%
- 65 and older
- 17.3%
- Households
- 404
- Foreign-born
- 1.4%
- Veterans
- 7.4%Adults 18+
Hispanic or Latino can be of any race. Population history of Prospect ›
Education in Prospect
22.2% of adults 25 and older in Prospect have a bachelor's degree or higher (Pennsylvania: 35.2%), and 6% have a graduate or professional degree.
Jobs and commute in Prospect
- Unemployment rate
- 5.1%State: 5.3%
- Average commute
- 27 minState: 26 min
- Work from home
- 11.5%
- Drive alone
- 73.3%
- Public transit
- 0%
- Walk to work
- 0%
- Homes with broadband
- 93.6%
Prospect vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Prospect | 1,157 | $88,250 | $171,300 | $873 |
| Franklin | 2,590 | $77,593 | $316,900 | $817 |
| Muddy Creek | 2,025 | $83,346 | $225,300 | $1,072 |
| Portersville | 196 | $79,375 | $211,100 | $817 |
| Unionville | 644 | $58,235 | $94,400 | — |
| Lancaster | 3,207 | $99,432 | $391,600 | $1,038 |
| Meridian | 3,837 | $79,191 | $244,000 | $1,146 |
| Connoquenessing | 687 | $108,750 | $300,000 | $1,304 |
| Brady | 1,092 | $78,977 | $195,800 | $558 |
More for people moving to Prospect
Prospect ZIP code ›Weather and climate ›Living in Prospect: FAQ
What is the median household income in Prospect, PA?
The median household income in Prospect is $88,250, 13% higher than the Pennsylvania median of $77,971 (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 $171,300, compared with $254,500 in Pennsylvania.
How much is rent in Prospect?
The median gross rent in Prospect is $873 per month, about 17.2% of household income.
Is Prospect, PA a good place to live?
Pluses: median household income 13% higher than the Pennsylvania median; home values 33% lower than the state median; unemployment of 5.1%; a poverty rate of 5.8%. Minuses: an average commute of 27 minutes.
What is the median age in Prospect?
The median age in Prospect is 43.5 years (Pennsylvania: 40.9).
How long is the commute in Prospect?
The average commute to work in Prospect is 27 minutes; 11.5% 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?
22.2% 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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