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City Report · PA

Prospect Park

Pop. 6,417·97th most expensive in Pennsylvania·Rental market data updated monthly for Prospect Park, PA
Median rent (all units)
$1,509/mo
Year-over-Year
Stable
Month-over-Month
+9.0%
vs US Median
-$456
Rising (Monthly)
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Most AffordableMost Expensive
Prospect Park · $1,509
More affordable than 76% of US cities · National median $1,965/mo
Affordability
29% of income
AFFORDABLE
0%30% benchmark60%+

At $1,509/mo, rent takes about 29% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$60,000/yr
Local median income
$63,077/yr
Based on the 30%-of-income rule using Prospect Park's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,160
1 BR
$1,280
2 BR
$1,520
3 BR
$1,830
4 BR+
$2,080
Research median
$1,520/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: June 22, 2026

Annual cost
$18,108/yr
At $1,509/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +9.0% MoM), not inventory.
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Demographics

Who lives here

Prospect Park, PA is majority owner-occupied, skews toward younger working-age adults, has a median income below the national average, 22.9% of residents hold a bachelor's degree or higher.

Population
6,417
Median income
$63,077
Median age
33.7
Renters
42%
Age distribution
20.9%
30.5%
22.3%
12.3%
14%
Under 1820.9%
18–3430.5%
35–5422.3%
55–6412.3%
65+14%
Gender
53.3%
46.7%
Male53.3%
Female46.7%
Race & ethnicity
73.8%
14.7%
White73.8%
Black14.7%
Asian2.9%
Other8.5%
Education (25+)
29.1%
40.7%
22.9%
No HS diploma7.2%
HS diploma29.1%
Some college40.7%
Bachelor's+22.9%
Housing tenure
58%
42%
Owner58%
Renter42%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Prospect Park, PA has changed in 5 years

Income
$63,515 → $63,077
down 0.7%
Population
6,414 → 6,417
up 0.0%
Renter share
39.8% → 42%
+2.2 pts
Bachelor's+
26.7% → 22.9%
-3.8 pts
Median age
37.5 → 33.7
-3.8 yrs

On the earnings side, the typical household in Prospect Park, PA now reports about $63,077, up from $63,515 in 2021. Renters now make up 42% of households, compared with 39.8% five years ago. College-educated residents now make up 22.9% of adults here, versus 26.7% in 2021.

Community

Discussions about Prospect Park

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View Prospect Park rent history (2015–2026) →
Salary vs rent

Can you afford rent in Prospect Park on your salary?

At $1,509/mo, how Prospect Park rent compares to typical pay (30% rule).

By apartment size

Prospect Park rent by bedroom count

Median rent for each apartment size in Prospect Park. Click any size for full breakdown.

Local insights

Tips for renters in Prospect Park

About renting in Prospect Park, PA

Last updated: June 22, 2026

The median rent in Prospect Park is $1,509/mo as of June 2026. A studio apartment averages $1,160/mo while a 2-bedroom runs $1,520/mo. One-bedroom apartments average $1,280/mo and 3-bedroom units go for $1,830/mo.

At 29% of local median household income ($63,077/yr), Prospect Park ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Prospect Park an affordable city for renters?

Prospect Park is considered affordable for renters. At $1,509/mo, rent takes approximately 29% of the local median household income ($63,077/yr). The standard benchmark is 30%. Prospect Park falls comfortably within that range.

How much income do you need to rent in Prospect Park?

To keep rent at or below 30% of gross income, you would need to earn at least $60,000/year (~$29/hour full-time) to afford the median rent of $1,509/mo in Prospect Park. The local median household income is $63,077/yr, meaning the typical Prospect Park household meets that threshold.

Is rent going up or down in Prospect Park?

Rent in Prospect Park has been relatively stable over the past year, with a 0.0% change year over year as of June 2026.

How does Prospect Park rent compare to other cities in Pennsylvania?

Prospect Park is middle-of-the-pack for Pennsylvania for rent, ranking #97 out of 165 tracked cities at $1,509/mo.

Which nearby cities are cheaper to rent in than Prospect Park?

Several nearby cities have lower median rents than Prospect Park ($1,509/mo): Crum Lynne ($1,100/mo), Collingdale ($1,321/mo), Glenolden ($1,434/mo).

What percentage of Prospect Park residents rent vs. own?

According to Census data, approximately 42% of Prospect Park households are renters, while 58% are owner-occupied. Prospect Park leans toward homeownership, which can mean a smaller rental inventory.

How does Prospect Park rent compare to the national average?

Prospect Park's median rent of $1,509/mo is $456 (23%) below the US national median of $1,965/mo. Within Pennsylvania, it ranks #97 out of 165 tracked cities.
Income Affordability
29%
AFFORDABLE

At $1,509/mo, rent takes ~29% of Prospect Park's median household income ($63,077/yr). The standard benchmark is 30%.

Prospect Park 29%Benchmark 30%
State income tax3.07%
Run the Prospect Park affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Prospect Park, PA

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