Prospect, OR
Population 724 · Oregon
About Prospect, OR
Prospect is a small community located in Oregon with a population of 724 residents according to the latest US Census Bureau American Community Survey data. The median household income is $39,808 per year, which is 47% below the national median of $75,149. The median age of 56.6 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 $309,000, which is 26% above 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 $744, 36% below the national average of $1,163/month. Of the 320 total housing units, 79% are owner-occupied (244 units) and 21% are renter-occupied (64 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Prospect shows an unemployment rate of 2.7%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 20.6%, above the national average of 12.4%. Workers in Prospect have an average one-way commute time of 37.2 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
14.0% 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 2.1% White, 20.7% Hispanic or Latino, 0.0% Black or African American, and 1.0% Asian residents, with 1.0% of the population being foreign-born.
How Prospect Ranks in Oregon
Cost of Living in Prospect, OR
Compared to national averages, Prospect has a median household income of $39,808 (47% below the national median of $75,149). Home values average $309,000, which is 26% above the national median. Monthly rent at $744 is 36% below the US average of $1,163. Within Oregon, Prospect's income is 48% below the state average of $76,196, and home values are 19% below the state median of $382,095.
Why Live in Prospect, OR?
Prospect offers rent that’s lower than the national average at $744/month, and a strong job market with an unemployment rate of just 2.7%.
Potential considerations include median household income ($39,808) 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 724 with a median age of 56.6 years. Compare Prospect with other cities to see how it stacks up, or explore all cities in Oregon.
Similar Cities Near Prospect
Cities in Oregon with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Arlington | 720 | $75,625 | $159,200 | Compare |
| Glendale | 719 | $39,917 | $173,300 | Compare |
| Crabtree | 717 | $115,750 | $361,100 | Compare |
| Umapine | 713 | $49,688 | $435,500 | Compare |
| Malin | 739 | $53,144 | $183,300 | Compare |
| Prairie City | 739 | $49,702 | $186,400 | Compare |
| Bayshore | 743 | $59,538 | $427,700 | Compare |
| Tetherow | 750 | $210,893 | $2,000,001 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Oregon
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Prospect With Other Cities
Frequently Asked Questions about Prospect
What is the population of Prospect, OR?
The population of Prospect, OR is 724 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Oregon.
What is the median household income in Prospect?
The median household income in Prospect, OR is $39,808 per year, which is 47% below the national median of $75,149.
What is the median home value in Prospect?
The median home value in Prospect, OR is $309,000, which is 26% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Prospect?
The median monthly rent in Prospect, OR is $744, which is 36% below the national average of $1,163/month.
What is the unemployment rate in Prospect?
The unemployment rate in Prospect, OR is 2.7%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Prospect, OR a good place to live?
Prospect offers a moderate cost of living, a competitive housing market, and a strong job market. With a population of 724 and a median age of 56.6, the city appeals to established professionals and retirees.
How educated is Prospect, OR?
14.0% 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, OR: median home value is $309,000 (26% above national), median rent is $744/month, and median household income is $39,808. The home-value-to-income ratio is 7.8x, which suggests housing may be stretched relative to local earnings.
What is the poverty rate in Prospect?
The poverty rate in Prospect, OR is 20.6%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Prospect, OR?
Prospect's population is 2.1% White, 20.7% Hispanic or Latino, 0.0% Black or African American, 1.0% Asian, and 0.0% two or more races. 1.0% of residents are foreign-born.