Apartments for Rent in Prospect, KY

Prices and availability in Prospect, KY were last updated on 3 Jun 2026.

The best apartments in Prospect, KY are: Lyric at Norton Commons Apartments, Veranda at Norton Commons, The Coop at River Road and 5304 Wolfpen Woods Dr.

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

The price range for a studio apartment in Prospect, KY is between $1,399 and $3,222.

The price range for a 1-bedroom apartment in Prospect, KY is between $1,395 and $4,044.

The price range for a 2-bedroom apartment in Prospect, KY is between $1,895 and $5,368.

The price range for a 3-bedroom apartment in Prospect, KY is between $1,995 and $7,384.

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 average age of rental buildings in Prospect is 6 years old, with all being newer apartment buildings completed since 2000. The average height of apartment buildings in the city is 4 stories, of which all are garden-style apartment communities, none are mid-sized buildings, and none are high-rises. These characteristics describe large-scale apartment communities of 50 apartments or more.

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.