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Prospect, OH Profile: Facts & Data

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Prospect, Ohio - Basic Facts

The Village of Prospect had a population of 1,048 as of July 1, 2020. Prospect ranks in the lower quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Ohio. See peer rankings below.

The primary coordinate point for Prospect is located at latitude 40.4503 and longitude -83.1885 in Marion County. The formal boundaries for the Village of Prospect encompass a land area of 0.72 sq. miles and a water area of 0 sq. miles. Marion County is in the Eastern time zone (GMT -5). The elevation is 909 feet.

The Village of Prospect (GNIS ID: 2399027) has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Village of Prospect is located within Township of Prospect, a minor civil division (MCD) of Marion County.

Alternate Unofficial Names for Prospect: Middletown.

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Prospect, OH Data & Demographics (As of July 1, 2020)

POPULATION

Total Population 1,048 (100%)
Population in Households 1,048 (100.0%)
Population in Families 860 (82.1%)
Population in Group Quarters1 0
Population Density 1,448
Diversity Index2 7
 
 

INCOME

Median Household Income $54,252
Average Household Income $71,957
% of Income for Mortgage4 13%
Per Capita Income $29,549
Wealth Index5 65
 

HOUSING

Total HU (Housing Units) 477 (100%)
Owner Occupied HU 323 (67.7%)
Renter Occupied HU 111 (23.3%)
Vacant Housing Units 44 ( 9.2%)
Median Home Value $167,788
Average Home Value $217,391
Housing Affordability Index3 179
 

HOUSEHOLDS

Total Households 433
Average Household Size 2.42
Family Households 294
Average Family Size 3
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

 2010-2020 2020-2025
Population -0.58% -0.46%
Households -0.44% -0.42%
Families -0.33% -0.62%
Median Household Income   2.11%
Per Capita Income   2.26%
Owner Occupied HU   0.19%

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Prospect, OH - Peer Comparisons by Rank and Percentile

The table below compares Prospect to the other 1,215 incorporated cities, towns and CDPs in Ohio by rank and percentile using July 1, 2020 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 652 46th
Population Density # 478 61st
Median Household Income # 672 45th
Housing Affordability Index # 224 18th
Per Capita Income # 475 61st
Diversity Index # 960 21st

Additional comparisons and rankings can be made with a VERY EASY TO USE Ohio Census Data Comparison Tool.

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