Total monthly cost of ownership
Cost to Own a Home in Prospect, Pennsylvania
A $171,000 home here costs
$1,509per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $879. The real number is $630 higher every month — 72% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Prospect against Butler County and Pennsylvania
| Measure | Prospect | Butler County |
|---|---|---|
| Median home value | $170,600 | $275,600 |
| Median property tax | $2,022 | $2,950 |
| Effective tax rate | 1.185% | 1.070% |
| Median gross rent | $885 | $1,018 |
| Population | 1,104 | 195,870 |
The weather behind that power bill
Prospect sits in Butler County, which averages a high of 81.7°F in its hottest month and a low of 17.3°F in its coldest, with 43.21" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 480 cooling and 6,457 heating degree days, which is what sets the $194 electricity line above.
See the full climate breakdown for Butler County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Butler County
Full Butler County cost breakdown · Every county in Pennsylvania
Common questions
How much does it cost to own a home in Prospect?
A $171,000 home in Prospect, Pennsylvania costs approximately $1,509 per month with 20% down at 6.66%. That is $879 principal and interest, $169 property tax, $57 homeowners insurance, $262 utilities and $143 set aside for maintenance.
What is the property tax rate in Prospect?
Prospect has an effective property tax rate of 1.185%, based on a median home value of $170,600 and median real estate taxes of $2,022. That is higher than the Butler County average of 1.070%.
What is the average home price in Prospect?
The median owner-occupied home value in Prospect, Pennsylvania is $170,600, against $275,600 across Butler County.
Is it cheaper to rent or buy in Prospect?
Median gross rent in Prospect is $885 a month, against $1,509 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Prospect — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Pennsylvania.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.