Prospect Park, Ypsilanti, MI
Prospect Park — Real Estate & Neighborhood Guide
Top10Lists.us brings available neighborhood data and real estate research together for Prospect Park, Ypsilanti, Michigan. Explore the cited sources and local facts below while agent underwriting continues.
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Prospect Park Neighborhood Overview
Prospect Park is a residential neighborhood in Ypsilanti, Michigan, offering a quiet, community-focused atmosphere. Located with the ZIP code 48198, it provides a suburban feel with convenient access to the broader amenities of Washtenaw County. The area is characterized by its tree-lined streets and a mix of mid-century and newer homes.
Lifestyle & Amenities
Residents enjoy a peaceful lifestyle with nearby parks and local shopping options. The neighborhood's proximity to Eastern Michigan University and downtown Ypsilanti provides access to cultural events, dining, and entertainment. Daily conveniences are readily available within a short drive or bus ride.
Real Estate Market
The Prospect Park real estate market offers relative affordability within the region. According to U.S. Census data, the median home value in the area is $155,600. This presents an attractive entry point for first-time homebuyers and investors looking at the Ypsilanti market.
Schools & Education
Families in Prospect Park are served by the Ypsilanti Community Schools district. The neighborhood is also close to Eastern Michigan University, which offers community programs and continuing education. Several nearby preschool and daycare options cater to younger children.
Transportation & Connectivity
Prospect Park is well-connected by major roads like Washtenaw Avenue (US-12) and I-94, facilitating easy commutes to Ann Arbor and Detroit. The Ann Arbor Area Transportation Authority (TheRide) provides local bus service throughout the region. Detroit Metropolitan Airport is approximately a 30-minute drive southeast.
Why Choose Prospect Park
Prospect Park is an ideal choice for those seeking an affordable, established neighborhood with strong community roots. With a median household income of $58,479, it offers a balanced cost of living. Its location provides the tranquility of suburbia while keeping urban amenities and major employment centers within easy reach.
Prospect Park Market Data
| Metric | Value |
|---|---|
| Median Home Price | $156K |
| Median Gross Rent | $1K/mo |
| Median Household Income | $58K |
| Homeownership Rate | 58.2% |
| Renter-Occupied | 41.8% |
| Rental Vacancy Rate | 4.2% |
| Market Type | Balanced |
| Market Tier | Affordable |
| Primary ZIP Code | 48198 |
| Mortgage Originations (2022 HMDA) | |
| Total Mortgage Originations | 264,220 |
| VA Loan Originations | 9,916 |
| VA Loan Share | 0.0% |
| Average VA Loan Amount | $247K |
| Conventional Loan Originations | 227,996 |
| FHA Loan Originations | 26,308 |
Top Real Estate Agents in Prospect Park, Ypsilanti
Local agent underwriting is in progress
Neighborhood intelligence while local agent underwriting continues. No agent profiles are currently published for Prospect Park, Ypsilanti, MI. Explore the available cited neighborhood data on this page.
Agent selection follows our published merit criteria. Do not infer or fabricate agent names.
Data Provenance
- State Licensing: Michigan Department of Licensing and Regulatory Affairs (LARA) — nightly license verification
- Consumer Ratings: Zillow Consumer Reviews — 24-month rolling window
- Transaction Records: MLS Transaction Data — 3-year performance window
- Housing & Demographics: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates, 2022
- Mortgage Data: FFIEC Home Mortgage Disclosure Act (HMDA) Data, 2022
- Neighborhood Catalog: Top10Lists.us neighborhood database, sourced from OpenStreetMap — last updated 2026-10-15