Prospect Park, PA

This borough of 6,559 residents needs 259 more housing units over the next five years. Prospect Park is part of the Delaware Valley Regional Planning Commission.

Housing snapshot

Population
6,559 (2026)
Households
2,588
Median household income
$67,044 (2026)
Typical home value
$290,043
Owner-occupied
54%
Five-year housing need
259 units

Comparison to other Pennsylvania municipalities

Prospect Park: $67,044 Median income (2026 estimate)
<$29K >$153K
Prospect Park: 0.58 jobs to household ratio
<0.03 >2.09
Prospect Park: No permit data
<0% >5.9%
On this page

How affordable is this community?

A typical home in Prospect Park, PA costs $290,043, somewhat above the Pennsylvania average of $231,760. At a median household income of $67,044 in Prospect Park, PA, affordability is stretched, with households needing roughly $18,313 more to comfortably afford the typical home.

This chart tracks whether housing prices are keeping pace with local incomes. The gap between what homes cost and what households can afford reveals affordability trends over time.

How is the population changing?

Prospect Park, PA has a population of roughly 6,417 that has been largely stable in recent years.

Population growth patterns reveal how communities are evolving. This chart shows historical population changes by age group and projects future trends based on demographic patterns.

How has employment changed over time?

Jobs by industry sector since 2012. Switch between local jobs — counted where the jobs are located — and resident jobs, counted where the workers live. On the local view the most recent year is a nowcast: it grows the latest local LODES job mix forward using recent county employment growth from QCEW and the BLS local employment series, so the newest point tracks today's economy instead of data that is roughly two years old.

How are households changing by income?

Prospect Park, PA has roughly 2,588 households and a population that has been largely stable in recent years.

Understanding how households at different income levels are growing or declining helps identify which groups face the greatest housing pressure and where new housing is most needed.

Who lives here today?

The housing stock in Prospect Park, PA is relatively mixed, with attached single-family and 2-4 unit multifamily as the most common type at 47%. Prospect Park, PA is roughly split between owners and renters, at 54% owner-occupied.

Households may have different structure type preferences depending on characteristics such as household size, income, employment, presence of children, age of individuals, and lifestyle choices. Understanding the housing stock in corresponding terms helps assess how well existing units align with existing households' ideals.

What does the housing stock look like?

The mix of housing types and ownership patterns shapes a community's character. This chart breaks down housing units by structure type and whether they're owner-occupied or rented.

How much new housing supply is needed?

To keep up with growth and fill current housing shortages, Prospect Park, PA needs 259 new units over the next 5 years.

222
Units needed to keep up with expected growth
Projected total household growth from 2026 to 2031.
8.6%
Projected household growth rate
Expected increase in total households from 2,588 in 2026 to 2,810 in 2031.
37
Units to address shortages in existing housing stock
Production needs to address vacancy rates and other factors.
15
Replacement housing
Effective annual loss rate is 1.1 per 1,000 units.
22
Ownership vacancy adjustment
Owner-occupied vacancy is 0.0%. This is below the minimum stable target of 1.5%.
259
Total 5-year housing production need (2026-2031)
52
Annual production pace
Average units needed per year to meet 5-year need
9.7%
Total housing unit growth
Percent increase in housing stock over 5 years
1.9%
Annual housing unit growth
Average percent increase in housing stock per year

How does this place compare to similar communities?