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Affordable
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These days, finding an affordable place to live in the Prospect area can be challenging. Home prices in Prospect are now at a median cost of $130,925, lower than the Alabama average of $228,911.
The average cost of rent is $730/mo in Prospect, primarily driven by the current value of real estate in the Prospect area. In Prospect, 9.17% of households rent, and 64.45% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Prospect is $5,363 per month. Households that rent pay about 13.61% of their income on rent here. Prospect’s most expensive areas are in the eastern regions, while the cheapest areas are in the western parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Nauvoo, AL: equally priced homes
- Saragossa, AL: higher priced homes
- Kansas, AL: less expensive homes
- Carbon Hill, AL: less expensive homes
- Poplar Springs, AL: equally priced homes
- Pocahontas, AL: less expensive homes
- Lynn, AL: less expensive homes
- Jasper, AL: higher priced homes
- Eldridge, AL: less expensive homes
- Studdards Crossroads, AL: less expensive homes
Cities with Similar Populations
- Meadowlands, MN: higher priced homes
- Mount Vernon, KS: higher priced homes
- Mount Harmony, WV: higher priced homes
- Mount Gay, WV: less expensive homes
- Milan, WI: higher priced homes
- Midvale, ID: higher priced homes
- Metz, WV: equally priced homes
- Mesa, CO: higher priced homes
- Merriam, IL: equally priced homes
- Merom, IN: higher priced homes
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