Apartments for Rent in Prospect, KY

Prices and availability in Prospect, KY were last updated on 30 Sep 2026.

The best apartments in Prospect, KY are: The Coop at River Road, Veranda at Norton Commons, Lyric at Norton Commons Apartments and 9216 Newbury Court.

The average rent in Prospect, KY is $1,953.

The price range for a studio apartment in Prospect, KY is between $1,391 and $3,431.

The price range for a 1-bedroom apartment in Prospect, KY is between $1,577 and $3,845.

The price range for a 2-bedroom apartment in Prospect, KY is between $1,625 and $5,816.

The price range for a 3-bedroom apartment in Prospect, KY is between $2,095 and $5,581.

In Prospect, 7% of the residents are renting compared to 93% 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's rentals, all are small-scale complexes with under 50 units, and none 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 are about 6 years old, on average. Of these, all 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 4 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 come in a range of sizes and floorplans. Studio apartments represent 2% 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 38% of the total apartments in the city, while 2-bedroom floorplans represent around 48% of all rentals in Prospect. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.