Prospect City, Kentucky
Population 4,731

Overview

Housing
Median Home Value
$373,900
Half are $268,300 - $566,500
Median Monthly Owner Costs
$2,339
With a Mortgage
Median Monthly Rent
$2,001
Includes Utilities
Median Year Housing Built
1986
Employment & Commute
Median Household Income
$120,000
Poverty Rate
3%
Unemployment Rate
2.2%
Education
Percent with a High School Diploma
98%
Ages 25+
Percent with a College Degree
74%
Ages 25+
Percent with a Post Grad Degree
32%
Ages 25+
Percent in Public School
48%
Ages 5-17 Enrolled in School
Demographics
Children
24%
Under 18
Young Adult Singles
6%
Ages 18-39
Middle Aged and Married
34%
Ages 40-64
Seniors
20%
Ages 65+

Population records for the city of Prospect begin with the 1990 census. In 1990, the population was recorded as 2788. It is located in northern Kentucky near the Ohio River. Prospect is one of 84 cities in Jefferson County. It is a suburb of Louisville/Jefferson County, KY.

Prospect, KY is a Place (City):
Often referred to as cities, places can be categorized as Census Designated Places (CDP) or legal entities. The places that are legal entities provide governmental functions. CDPs have no governmental authority and exist only for statistical purposes. They are similar to legal entities in that they are a concentrated population identifiable by a name. Neither cross state lines, but may extend across county lines. A CDP may not extend into a legal entity.
Need a wider view? Prospect, KY is a part of the Louisville/Jefferson County, KY Metro Area.

Housing

1986

Median Year Housing was BuiltAll Housing Including Owner/Renter Occupied and Unoccupied

Year Housing was BuiltAll Housing Including Owner/Renter Occupied and Unoccupied

1.8%

Estimated Abandoned Homes

This estimate includes vacant housing that is not for rent, rented, for sale, sold, for seasonal/recreational/occasional use, or for migrant workers.

94.4%

Home Ownership PercentageOccupied Housing Units

17

Price to Rent RatioOccupied Housing Units

The price to rent ratio compares home values to rental costs. Values over 20 indicate that it is likely more affordable to rent. Values under 15 indicate that it is likely more affordable to buy. Values between 15 and 20 indicate that extra judgment must be taken when making housing decisions. It is calculated as the median home value divided by the median annual contract rent (ie. rent without additional utilities).

$373,900

Median Owner Occupied Home Value

Owner Occupied Home Values

$2,339

Median Monthly Ownership CostsOwner Occupied Housing Units with a Mortgage

Monthly housing costs include mortgage payments, real estate taxes, insurance, utilities, and condo fees. When comparing to monthly rental costs, be careful to also look at the median number of bedrooms. Owner occupied homes generally include more bedrooms than rentals.

0.9%

Average Annual Real Estate Taxes as a Percent of Home ValueOwner Occupied Housing Units

3.1

Housing Affordability (Median Multiple)

The median multiple is the ratio of median house price by the median annual household income. In other words, how many years would it take for the median income to pay off the median home price? Higher values indicate that the incomes in the area are not high enough to warrant the higher home prices. Anything under 3 is considered affordable while higher values indicate that housing is not affordable.

24%

Housing Cost Burdened Owners

Federally subsidized housing programs set the maximum affordable housing cost at 30% of income. This threshold has become a measure of housing affordability and is intended to make sure that households have enough money to for other needs including food, clothing, transportation, etc. Anyone spending more than 30% of their income on housing is considered house burdened because it becomes difficult to afford many of the other necessities of living.

$2,001

Median Monthly Rent and Utility CostsRenter Occupied Housing Units with Housing Costs

Monthly housing costs include rent and utilities. When comparing to monthly ownership costs, be careful to also look at the median number of bedrooms. Owner occupied homes generally include more bedrooms than rentals.

Employment

$120,000

Median Household Income

Household Income

49.2

Household Income Inequality

Income inequality is measured using the Gini coefficient. Lower values indicate that household income is spread evenly across the income groups. Higher values indicate that one income group is much more common than others.

3%

Poverty Rate

Poverty status uses the standards set by the Office of Management and Budget (OMB). If a family's total income is less than a certain threshold, every person in the family is considered to be in poverty. The threshold varies based on family size, composition, and age.

$44,120

Median Annual Individual EarningsPast 12 months for the Population Ages 16+ With Earnings

Annual Individual EarningsPopulation Ages 16+ with Earnings

33%

Unadjusted Gender Pay GapPopulation Ages 16+ with Earnings

The unadjusted gender pay gap is the median indvidiual female earnings as a percentage of male earnings. In other words, women who work in Prospect, KY generally make around 3288% of what men do. Much of that difference is likely due to the number of hours worked (see the Full Time vs Part Time Work chart), occupations chosen (see the Employed by Occupation chart), education, and job experience. Adjusting for each of those factors to see what women with similar qualifications and jobs make compared to men is difficult, but the adjusted pay gap would be more likely to show the difference due to discrimination, difference in ability, or willingness to negotiate pay. For these reasons, differences in the gender pay shown here may be more likely to show the gender ideals in an area than the discriminatory practices. It is also worth noting that the 21% of men and 41% of women ages 16+ that did not have earnings were not included in the calculation.

2.2%

Unemployment RatePopulation Ages 16+ in the Civilian Labor Force

To classify as unemployed, people must not be in the military and must be actively looking for work (also known as the U3 measure of unemployment which is the official unemployment rate). In Prospect, KY, 37% of the population ages 16+ are not employed, but are also not looking for work so they are not considered in the unemployment rate. See the Labor Force Participation Rate for more information.

63%

Labor Force Participation RatePopulation Ages 16+

People in the labor force include those in the armed forces as well as civilians who are employed or classified as unemployed. To classify as unemployed, people must be actively looking for work. Common people that are not considered in the labor force are students, homemakers, retired workers, seasonal workers not currently looking for work, and institutionalized people. In Prospect, KY, 37% of people are neither employed or looking for work.

Full Time vs Part Time WorkPopulation Ages 16-64 Who Worked in the Last 12 Months

Full-time employment is typically considered 35-40 hours per week. With the exception of health care coverage, federal law does not regulate the definition of full time employment for compensation and benefits purposes. The Affordable Care Act (ACA/Obamacare) mandates that all employees working an average of 30 or more hours per week at a large employer must be eligible for health care coverage.

Total

35+ Hours per Week
71%
15-34 Hours per Week
22%
1-14 Hours per Week
7%

Male

35+ Hours per Week
82%
15-34 Hours per Week
13%
1-14 Hours per Week
5%

Female

35+ Hours per Week
58%
15-34 Hours per Week
32%
1-14 Hours per Week
9%

Employed by IndustryFull-time, Year-Round Civilians Ages 16+

Male
Female
Compared to US Avg
High Health care and social assistance
11%
9%
High Finance and insurance
12%
7%
High Professional, scientific, and technical services
14%
4%
Low Retail trade
5%
3%
Low Manufacturing
5%
1%
High Wholesale trade
3%
3%
Low Educational services
2%
3%
Normal Transportation and warehousing
3%
1%
Low Public administration
2%
2%
Low Other services, except public administration
2%
1%
Normal Real estate, rental, leasing
2%
1%
Normal Information
2%
1%
Low Accommodation and food services
2%
Low Administrative, support, waste management services
1%
1%
Low Construction
1%
Normal Arts, entertainment, and recreation
1%

Employed by OccupationFull-time, Year-Round Civilians Ages 16+

Male
Female
Compared to US Avg
High Sales and related
10%
8%
High Management
13%
4%
High Business and financial operations
7%
6%
High Health diagnosing, treating practitioners, other technical
9%
4%
High Legal
8%
1%
High Computer and mathematical
5%
Low Office and administrative support
2%
2%
Low Education, training, and library
3%
Normal Community and social service
1%
2%
Normal Healthcare support
1%
2%
Low Transportation
1%
1%
Normal Arts, design, entertainment, sports, and media
1%
1%
Normal Personal care and service
2%
Low Production
1%
1%
Normal Law enforcement workers including supervisors
1%
Low Construction and extraction
1%
Low Food preparation and serving related
1%
Normal Life, physical, and social science
1%
Normal Fire fighting and prevention, and other protective service workers including supervisors
1%

Means Of Transportation To WorkWorkers Ages 16+

Car, truck, etc.
89%
Public transportation
0%
Taxi
0%
Bicycle, Walked, or Other Means
1%
Worked at Home
10%

Travel Time to WorkIn Minutes for Workers Ages 16+ Who Did Not Work at Home

Time Leaving for WorkWorkers Ages 16+ Who Did Not Work at Home

Average Commute by Time Leaving for WorkIn Minutes for Workers Ages 16+ Who Did Not Work at Home

Time Arriving at WorkWorkers Ages 16+ Who Did Not Work at Home

Education

Educational AttainmentPopulation Ages 25+

Less than High School Diploma
2%
High School Graduate
24%
Associate's degree
3%
Bachelor's degree
38%
Master's degree
16%
Professional school degree
13%
Doctorate degree
3%
98%

Percent with a High School DiplomaPopulation Ages 25+

High school diplomas include equivalencies, but do not include those who reported completing grade 12 without a diploma.

74%

Percent with a College DegreePopulation Ages 25+

College degrees include those with an Associate's, Bachelor's, Master's, Professional school, or Doctorate degree.

32%

Percent with a Post Graduate DegreePopulation Ages 25+

Post graduate degrees include those with a Master's, Professional school, or Doctorate degree.

School EnrollmentPopulation Ages 5-17

Not being enrolled in school does not necessarily mean that the student dropped out. Only schools that lead to a high school diploma or college degree are included. Home schoolers were instructed to select private school. Ages 3-4 are not included because preschool programs are not usually mandated by law and only 38% of children in this age range were enrolled in Prospect, KY.

Enrolled in Public School
47%
Enrolled in Private School
51%
Not Enrolled in School
2%
48%

Percent Enrolled in Public SchoolPopulation Ages 5-17 Enrolled in School

Demographics

4,731

Total Population

Historical Population

The historical population of Prospect, KY in each census year since 1790 is derived from census records as well as historical state references. Learn more about the urbanization of the US and historical city populations.

Total Population By Age

Life Stages

Children Under 10
12%
Children 10-17
11%
Young Adult Singles
6%
Middle Aged and Married
34%
Seniors
20%
Other
16%
12%

Children Under 10

11%

Children Ages 10-17

6%

Young Adult Singles (Ages 18-39)

34%

Middle Aged and Married (Ages 40-64)

20%

Seniors (Ages 65+)

Marital Status of MalesPopulation Ages 15+

Marital Status of FemalesPopulation Ages 15+

Household Composition

Single female/male families do not necessarily denote single parent households. Single householders living with siblings, their aging parents, or any other relatives would be included.

Married Couples
75%
Single Female Families
3%
Single Male Families
3%
Householder Living Alone
17%
Householder Living with Non-Relative
2%

Race

White
90.2%
Black
3.8%
American Indian or Alaskan
0.0%
Asian
4.1%
Pacific Islander
0.0%
Other
1.1%
Two Plus Races
0.8%
21

Racial and Ethnic Diversity

The racial and ethnic diversity index measures the probability that any two people chose at random from Prospect, KY are of different races or ethnicities where higher numbers represent more diversity. It was developed by the University of North Carolina and USA Today in 1991 and adapted in 2000 to account for differences in Census questions. It uses the same calculation methods as the Gini Index used by the Census Bureau to determine household income inequality.

Climate

The climate estimates use Prospect, KY weather from 1971 to 2000 at the nearest official weather station which is located at CHARLESTOWN 5.

Average Daily Temperatures by Month (°F)

Average Monthly Precipitation (Inches)

Summer High Temps

This weather station's average summer high temps are higher than 60% of other weather stations.

Winter Low Temps

This weather station's average winter low temps are higher than 57% of other weather stations.

Precipitation Levels

This weather station's average precipitation levels are higher than 71% of other weather stations.

Entity Info

PropertySourceValue
State2013 ACSKY
Summary Level2013 ACS160 (place)
Logical Record Number2010 Census0177199
Logical Record Number2013 ACS0007109
Region2013 ACS3
Division2013 ACS6
State FIPS2013 ACS21
Place FIPS2013 ACS63264
Metro Micro Politan Statistical Area Principal City Indicator2010 CensusN
New England City & Town Area Principal City Indicator2010 CensusN
Name2010 CensusProspect city
Name2013 ACSProspect city, Kentucky
Functional Status Code2010 CensusA
Legal Statistical Area Description Code2013 ACS25
State ANSI2010 Census01779786
Place ANSI2010 Census02404575
Full GEOID2013 ACS16000US2163264
GEOID2013 ACS2163264
Population2010 Census4,698
Population2013 ACS4,731
Housing Units2010 Census1,990
Housing Units2013 ACS1,919
Land Area2013 ACS3.8 square miles
Water Area2013 ACS0.1 square miles
Population Density2013 ACS1,234.9 people per sq. mile
Minimum Bounding Rectangle Or Bounding Box2013 ACS[38.318209,-85.630743], [38.373415,-85.580545],
Centroid Or Center Coordinates2013 ACS38.347056251959, -85.610336693492
FIPS Place Class Code2010 CensusC1
Place Size Code2010 Census12