Apartments for Rent in Prospect, KY

Prices and availability in Prospect, KY were last updated on 13 May 2026.

The best apartments in Prospect, KY are: Veranda at Norton Commons and Lyric at Norton Commons Apartments.

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

The price range for a studio apartment in Prospect, KY is between $1,391 and $3,035.

The price range for a 1-bedroom apartment in Prospect, KY is between $1,495 and $4,160.

The price range for a 2-bedroom apartment in Prospect, KY is between $1,601 and $5,005.

The price range for a 3-bedroom apartment in Prospect, KY is between $2,095 and $8,077.

In Prospect, 8% of the residents are renting compared to 92% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 10% of Prospect's rentals, 78% are small-scale complexes with under 50 units, and 11% 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.