Prospect, IN
Population 102 · Indiana
About Prospect, IN
Prospect is a small community located in Indiana with a population of 102 residents according to the latest US Census Bureau American Community Survey data. The median household income is $0 per year, which is 100% below the national median of $75,149. The median age of 63.9 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Prospect features a median home value of $215,000, which is 12% below the national median of $244,900. This positions Prospect in a moderately priced market relative to the rest of the country. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 115 total housing units, 43% are owner-occupied (28 units) and 57% are renter-occupied (37 units). The higher proportion of renters may reflect a transient population, younger demographics, or high housing costs relative to income.
Economy & Employment
The local economy in Prospect shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 10.8%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Prospect have an average one-way commute time of 0 minutes, one of the shorter commutes in the region.
Education & Demographics
0.0% of Prospect residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Prospect, IN
Compared to national averages, Prospect has a median household income of $0 (100% below the national median of $75,149). Home values average $215,000, which is 12% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Indiana, Prospect's income is 100% below the state average of $69,330, and home values are 32% above the state median of $163,409.
Why Live in Prospect, IN?
Prospect offers affordable housing with a median home value of $215,000, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features a low poverty rate of 10.8%, better than the national average, and short commute times averaging just 0 minutes.
Potential considerations include median household income ($0) that falls below the national average. However, Prospect’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Prospect has a population of 102 with a median age of 63.9 years. Compare Prospect with other cities to see how it stacks up, or explore all cities in Indiana.
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Demographics
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Economy & Education
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Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Prospect
What is the population of Prospect, IN?
The population of Prospect, IN is 102 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Indiana.
What is the median household income in Prospect?
The median household income in Prospect, IN is $0 per year, which is 100% below the national median of $75,149.
What is the median home value in Prospect?
The median home value in Prospect, IN is $215,000, which is 12% below the national median of $244,900. A significant portion of residents rent their homes.
What is the average rent in Prospect?
The median monthly rent in Prospect, IN is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Prospect?
The unemployment rate in Prospect, IN is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Prospect, IN a good place to live?
Prospect offers a moderate cost of living, affordable housing, and a strong job market. With a population of 102 and a median age of 63.9, the city appeals to established professionals and retirees.
How educated is Prospect, IN?
0.0% of residents in Prospect aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Prospect?
Key cost-of-living indicators for Prospect, IN: median home value is $215,000 (12% below national), median rent is $0/month, and median household income is $0. The home-value-to-income ratio is Infinityx, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Prospect?
The poverty rate in Prospect, IN is 10.8%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Prospect, IN?
Prospect's population is 0.0% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.