Rental prices in Prospect Park, Delaware County, PA have decreased by 9.1% over the past year. The average rent moved from $1,773 to $1,611.
Compared to the national average rent of $1,740, the average rent in Prospect Park, Delaware County, PA is $1,611.
The average monthly rent of apartments in Prospect Park, Delaware County, PA is $1,611.
Around 64% of Prospect Park’s apartments are in the $1,501-$2,000 price range. 36% of apartments are priced between $1,001-$1,500.
The largest share of rentals in Prospect Park, Delaware County, PA (64%) fall between $1,501-$2,000 per month. This suggests that most people succesfully find suitable apartments within this price.
The average rent in Prospect Park, Delaware County, PA is $1,512.
In Prospect Park, 40% of the residents are renting compared to 60% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent none of Prospect Park's rentals, 93% are small-scale complexes with under 50 units, and 7% are single-family rentals.
The age and size of multifamily buildings are among the most visible characteristics of the rental market in a city. In this case, the apartment buildings in Prospect Park are about 48 years old, on average. Of these, none have been built since 2000, representing the newer options on the market and typically offering more amenities. Rental buildings in the city have an average height of 3 stories. About all of the rental communities here are low-rise, garden-style communities, none are mid-rises, and none are high-rise buildings. These are true especially for large-scale multifamily buildings with over 50 apartments.
Rental apartments in Prospect Park come in a range of sizes and floorplans. Studio apartments represent 1% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 24% of the total apartments in the city, while 2-bedroom floorplans represent around 75% of all rentals in Prospect Park. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.
Prospect Park, Pennsylvania, is a compact borough in Delaware County, conveniently located just 10 miles southwest of the bustling city of Philadelphia. Its proximity to Philadelphia makes it an ideal location for renters looking for a peaceful suburb near a major urban center. The local economy benefits significantly from its closeness to larger cities while maintaining its distinct small-town charm.
Prospect Park is known for its community-oriented atmosphere, with several parks and recreational areas providing residents with ample opportunities for outdoor activities. Park Square, a notably well-maintained public space, serves as a focal point for community gatherings and seasonal events. The arts scene in Prospect Park, while modest, is supported by local events and nearby Philadelphia’s rich cultural offerings. Historical features of the area include well-preserved Victorian homes and the iconic Prospect Park School, reflecting the borough's long-standing educational heritage.
In terms of cuisine, residents enjoy a variety of dining options, from traditional American eateries to international cuisines, largely influenced by nearby Philadelphia’s diverse food scene. Local restaurants often feature Italian and American classics, reflecting the borough’s demographic makeup.
The Prospect Park School District offers educational resources primarily through Interboro School District, which is shared with neighboring communities. It provides comprehensive education opportunities, emphasizing community involvement and academic excellence.
Prospect Park offers a range of rental options from single-family homes to apartment complexes, catering to a diverse demographic including young professionals, families, and retirees. The architectural styles in the borough predominantly feature mid-20th-century designs with a selection of colonial and Victorian homes, adding a historic charm to the neighborhoods.
The borough is divided into a few distinct neighborhoods, each with its unique appeal. The area around Park Square is particularly popular due to its proximity to local businesses and community events. Rental properties in this area are attractive for their access to local amenities and community-centric atmosphere, making them particularly appealing to families and individuals who value a tight-knit community vibe.
Shopping options in Prospect Park include a mix of national retailers and local stores, providing residents with both convenience and character. The nearest major shopping center is the MacDade Mall located in nearby Holmes, offering a range of retail stores, services, and dining options.
For a more local shopping experience, residents often visit the shops along Lincoln Avenue, where local crafts and services are available. Grocery shopping is straightforward with several supermarkets and specialty stores, such as the local Prospect Park Market, which offers fresh produce and groceries.
Prospect Park is served by an efficient public transportation system, primarily through bus routes facilitated by the Southeastern Pennsylvania Transportation Authority (SEPTA). These routes connect residents to broader areas, including direct access to Philadelphia. The borough also benefits from the Prospect Park Station, part of the SEPTA Regional Rail network, providing convenient access to and from Philadelphia.
For those traveling further afield, the Philadelphia International Airport is just a short drive away, offering both domestic and international flights. Additionally, the borough’s proximity to major highways such as Interstate 95 and Route 476 makes car travel to neighboring cities and states straightforward.
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