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These days, finding an affordable place to live in the Prospect Park area can be challenging. Home prices in Prospect Park are now at a median cost of $411,103, lower than the New Jersey average of $496,577.
The average cost of rent is $1,556/mo in Prospect Park, primarily driven by the current value of real estate in the Prospect Park area. In Prospect Park, 57.62% of households rent, and 33.49% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Prospect Park is $4,766 per month. Households that rent pay about 32.64% of their income on rent here. Prospect Park’s most expensive areas are in the northwestern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Haledon, NJ: equally priced homes
- Paterson, NJ: less expensive homes
- Hawthorne, NJ: higher priced homes
- North Haledon, NJ: higher priced homes
- Totowa, NJ: higher priced homes
- Fair Lawn, NJ: higher priced homes
- Glen Rock, NJ: higher priced homes
- Woodland Park, NJ: higher priced homes
- Elmwood Park, NJ: higher priced homes
- Wayne, NJ: higher priced homes
Cities with Similar Populations
- White Oak, TX: less expensive homes
- Boulder Creek, CA: higher priced homes
- Bowdon, GA: less expensive homes
- Abilene, KS: less expensive homes
- Brigantine, NJ: higher priced homes
- Brooklet, GA: less expensive homes
- Brookville, IN: less expensive homes
- Brookville, PA: less expensive homes
- Brunswick, MD: equally priced homes
- Bunnlevel, NC: less expensive homes
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