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Real Estate Prices & Overview

Prospect South median real estate price is $692,728, which is more expensive than 98.6% of the neighborhoods in Kentucky and 83.9% of the neighborhoods in the U.S.

The average rental price in Prospect South is currently $3,251, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.6% of the neighborhoods in Kentucky.

Prospect South is a suburban neighborhood (based on population density) located in Prospect, Kentucky.

Prospect South real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Prospect South neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

In Prospect South, the current vacancy rate is 3.1%, which is a lower rate of vacancies than 80.7% of all neighborhoods in the U.S. This means that the housing supply in Prospect South is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

People

If you come to know the people here, you will recognize that you're in the company of one of the wealthiest communities in the nation. In fact, a mere 4.8% of America's neighborhoods are wealthier than the Prospect South neighborhood. Real estate here is exceedingly well-maintained, and similarly, tends to maintain its value over time. The cars driven are mostly luxury brands like Mercedes, Audi, BMW, and Lexus. If the public schools aren't up to snuff, the residents of this neighborhood preferentially send their children to private preparatory schools. Vacation to Disney? Yes, but equally popular are summers in Europe. As one would expect in a considerably wealthy neighborhood such as this, Prospect South also has one of the lowest ratings of child poverty in the nation.

In addition, a majority of the adults in the Prospect South neighborhood are wealthy and educated executives. They own stately homes that tend to maintain high real estate appreciation rates. Their upper-level careers keep them busy, but allow them to live comfortably. If you're an executive and want to keep similar company, consider settling in this neighborhood, rated as an executive lifestyle "best choice" neighborhood for Kentucky by NeighborhoodScout's analysis, which rated it as better for executive lifestyles than 98.5% of the neighborhoods in Kentucky. In addition to being an excellent choice for highly educated executives, this neighborhood is also a very good choice for urban sophisticates.

Also, some neighborhoods have residents that are more educated than others. But in this neighborhood there is a dramatic difference. NeighborhoodScout's exclusive analysis reveals that 40.8% of the adults here have earned a Masters degree, medical degree, Ph.D. or law degree. This is a higher rate of people with a graduate degree than is found in 97.4% of U.S. neighborhoods, where the average American neighborhood has 13.1% of its adults with a graduate degree. If you are highly educated, you may have much in common with many of your neighbors here.

Finally, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 97.3% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Prospect South neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.

Occupations

The Prospect South neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 96.5% of the neighborhoods in America. In fact, 71.2% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.

Real Estate

Homes built from 2000 through today make up a higher proportion of the Prospect South neighborhood's real estate landscape than 96.2% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 70.6% of the residential real estate here is classified as newer.

Diversity

Did you know that the Prospect South neighborhood has more Armenian and Welsh ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 0.9% of this neighborhood's residents have Armenian ancestry and 2.2% have Welsh ancestry.

Prospect South is also pretty special linguistically. Significantly, 1.9% of its residents five years old and above primarily speak Urdu, which is the national language of Pakistan, at home. While this may seem like a small percentage, it is higher than 98.8% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Prospect South neighborhood in Prospect are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 95.2% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Prospect South neighborhood, 71.2% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 16.1% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (6.2%), and 5.7% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Prospect South neighborhood is English, spoken by 90.5% of households. Other important languages spoken here include Langs. of India and Polish.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Prospect South neighborhood in Prospect, KY, residents most commonly identify their ethnicity or ancestry as German (21.5%). There are also a number of people of English ancestry (16.1%), and residents who report Irish roots (11.8%), and some of the residents are also of Asian ancestry (7.5%), along with some Italian ancestry residents (6.9%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Prospect South neighborhood spend between 15 and 30 minutes commuting one-way to work (44.6% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (78.7%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (5.5%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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