Prospect appreciation rates and housing market information

Prospect housing market information

With 4,797 people, 1,863 houses or apartments, and a median cost of homes of $438,498, Prospect house prices are not only among the most expensive in Kentucky, Prospect real estate also is some of the most expensive in all of America.

Prospect is a city of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Prospect than is found in 99.67% of the communities in America.

And, as is not surprising, these large homes are primarily owner-occupied (87.44%).

There is a lot of housing in Prospect built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Prospect built from 1995 and later (19.91%). A lesser amount of the housing stock also hails from 1940-1969 (12.83%), and some were built from 1939 and earlier (12.83%).

Prospect home appreciation rates

Prospect's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Prospect during the period has been just 5.26%, which is lower than % of US communities.

NeighborhoodScout's data show that during the latest twelve months, Prospect home appreciation rates, at 1.13%, have been at or slightly above the national average. In the latest quarter, Prospect's appreciation rate has been 0.54%, which annualizes to a rate of 2.16%.

Relative to Kentucky, our data show that Prospect's latest annual appreciation rate is higher than 21% of the other cities and towns in Kentucky.