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Real Estate Prices & Overview

Prospect median real estate price is $442,289, which is more expensive than 85.8% of the neighborhoods in Wisconsin and 65.0% of the neighborhoods in the U.S.

The average rental price in Prospect is currently $1,361, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 73.5% of Wisconsin neighborhoods.

Prospect is a suburban neighborhood (based on population density) located in New Berlin, Wisconsin.

Prospect real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and small apartment buildings. Most of the residential real estate is owner occupied. Many of the residences in the Prospect neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.

In Prospect, the current vacancy rate is 0.4%, which is a lower rate of vacancies than 93.4% of all neighborhoods in the U.S. This means that the housing supply in Prospect 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

According to NeighborhoodScout's exclusive analysis, Prospect is among the best neighborhoods for families in Wisconsin. In fact, this neighborhood is more family-friendly than 98.8% of neighborhoods in the entire state of Wisconsin. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Prospect neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for active retirees.

In addition, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 98.5% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Prospect 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.

Real Estate

Owner-occupied real estate dominates the Prospect neighborhood. In fact, according to NeighborhoodScout research, the percentage of residential real estate occupied by its owner is higher here than in 96.8% of neighborhoods in America.

Diversity

Did you know that the Prospect neighborhood has more Polish and German ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 20.9% of this neighborhood's residents have Polish ancestry and 40.7% have German ancestry.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Prospect neighborhood. More residents of the Prospect neighborhood live here today that also were living in this same neighborhood five years ago than is found in 96.1% of U.S. neighborhoods. This neighborhood is really made up of people who know each other, don't move often, and have lived here in this very neighborhood for quite a while.

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 neighborhood in New Berlin are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 78.8% of the neighborhoods in America. In addition, 3.4% 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 70.4% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Prospect neighborhood, 43.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 22.4% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (21.5%), and 10.6% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Prospect neighborhood is English, spoken by 96.8% of households.

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 neighborhood in New Berlin, WI, residents most commonly identify their ethnicity or ancestry as German (40.7%). There are also a number of people of Polish ancestry (20.9%), and residents who report Irish roots (8.3%), and some of the residents are also of Italian ancestry (5.9%), along with some English ancestry residents (5.7%), 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 neighborhood spend between 15 and 30 minutes commuting one-way to work (48.5% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (88.4%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


Real Estate includes:
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Economics & Demographics include:
Lifestyle & Special Character
Household Types
Commute To Work
Migration & Mobility
Race & Ethnic Diversity
Employment Industries & Occupations
Income & Unemployment Rate
Higher Education Attainment
Crime includes:
Neighborhood Crime Index
Crimes Per Square Mile
Property Crime Comparison
Violent Crime Comparison
Schools include:
School Ratings
Schools In District
Public School Test Scores
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Educational Expenditures

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