Prospect median real estate price is $493,884, which is more expensive than 84.4% of the neighborhoods in Wisconsin and 63.8% of the neighborhoods in the U.S.
The average rental price in Prospect is currently $1,696, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 77.2% of the neighborhoods in Wisconsin.
Prospect is a rural neighborhood (based on population density) located in New Berlin, Wisconsin.
Prospect real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is owner occupied. Many of the residences in the Prospect neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built between 1970 and 1999.
In Prospect, the current vacancy rate is 0.6%, which is a lower rate of vacancies than 92.6% of all neighborhoods in the U.S. This means that the housing supply in Prospect is very tight compared to the demand for property here.
When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.
Of note is NeighborhoodScout's research finding that the Prospect neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Prospect community truly stands out from the rest in this regard.
In addition, according to NeighborhoodScout's exclusive analysis, Prospect is among the best neighborhoods for families in Wisconsin. In fact, this neighborhood is more family-friendly than 99.4% of neighborhoods in the entire state of Wisconsin. Its combination of top public schools, low crime rates, and owner-occupied single family homes gives this area the look and feel of a "Leave It to Beaver" episode. Many other families also live here, making it easy to socialize and develop a strong sense of community. In addition, the high number of college-educated parents influences the academic success of the local schools. Overall, you will find all of the amenities a family needs to thrive in the Prospect neighborhood. In addition to being an excellent choice for families with school-aged children, this neighborhood is also a very good choice for active retirees, highly educated executives and urban sophisticates.
Also, priests and therapists would like to think they know the secrets to a truly successful marriage, but according to NeighborhoodScout's research, the folks of the Prospect neighborhood may actually hold the key. 71.5% of its residents are married, which is a higher percentage than is found in 97.4% of the neighborhoods in America.
Real estate in the Prospect neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 97.5% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood.
In addition, some neighborhoods are made up of apartments. Some consist of row houses, and most - by far - consist of a mixture of housing types. But the Prospect neighborhood stands out due to the total dominance of detached, single-family homes here. There are nearly no other types of residential real estate in the neighborhood. In fact, this neighborhood has a higher proportion of single-family homes in its real estate stock than 97.0% of all American neighborhoods.
Did you know that the Prospect neighborhood has more Polish and German ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 18.7% of this neighborhood's residents have Polish ancestry and 41.2% have German ancestry.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the Prospect neighborhood in New Berlin are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 79.3% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the Prospect neighborhood, 45.2% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 21.7% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (19.7%), and 11.8% in clerical, assistant, and tech support occupations.
The most common language spoken in the Prospect neighborhood is English, spoken by 95.8% of households. Some people also speak Spanish (3.8%).
Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.
In the Prospect neighborhood in New Berlin, WI, residents most commonly identify their ethnicity or ancestry as German (41.2%). There are also a number of people of Polish ancestry (18.7%), and residents who report Irish roots (7.3%), and some of the residents are also of English ancestry (7.0%), along with some Norwegian ancestry residents (5.7%), among others.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Prospect neighborhood spend between 15 and 30 minutes commuting one-way to work (52.5% of working residents), which is shorter than the time spent commuting to work for most Americans.
Here most residents (81.1%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (6.1%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.