New Prospect, AL—35441
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Prospect, AL
New Prospect, AL lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | N/A | N/A |
| Single Family | N/A | N/A |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — New Prospect, AL
New Prospect, AL lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — New Prospect, AL
As of Oct '25, Realtor.com reports that the median days on market for a home in New Prospect, AL is 124. This is a increase of 102.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $130,000 | -31.0% |
Listing Count | 7 | 64.0% |
| Listings as % of Homes | N/A | 64.0% |
Days on Market | 124 | 102.0% |
Demographics — New Prospect, AL
As of the latest ACS Survey released in 2023, New Prospect, AL has a population of 881, which has decreased by -19.1% over the past 5 years. New Prospect, AL is a moderately popular place for families, as children make up 16.9% of the population. The area has a poorly educated workforce, with 17.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 881 | -19.1% |
% Under 18 | 16.9% | -33.5% |
% Seniors | 21.5% | 102.8% |
% WFH | 3.3% | -77.1% |
% w/ College Degree | 17.0% | 18.1% |
New Prospect, AL lacks sufficient race and ethnicity data for analysis.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 42.6% | -22.3% |
% Black | 52.8% | 16.8% |
% Hispanic | 0.0% | N/A |
% Asian | 0.0% | N/A |
% Foreign Born | 0.0% | N/A |
Mortgage and Risk — New Prospect, AL
According to HUD data as of 2023, there were 21 mortgage originations in New Prospect, AL, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 33.0% above 90% LTV (very high). This implies large mortgage risk in New Prospect, AL. Investor activity is low, as 0.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 21 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — New Prospect, AL
New Prospect, AL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $820 |
| 2 Bedroom | N/A | N/A | $1,030 |
| 3 Bedroom | N/A | N/A | $1,290 |
| 4 Bedroom | N/A | N/A | $1,370 |
Affordability — New Prospect, AL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | N/A |
| Median Home Price | N/A |
| Median Household Income | $51,400 |