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is a city in far northeastern Jefferson and southwestern Oldham Counties in the U.S. state of Kentucky, along the Ohio River. It one of few cities in Jefferson County to extend into another county. The population was 4,657 at the 2000 census. It is bordered by Oldham County to the northeast, the river to the west, and the Harrods Creek area to the southwest. U.S. Route 42 is the primary transportation artery running through the area. Prospect is the ninth wealthiest place in Kentucky, and the third wealthiest of places with a population over 1,000.
It was first settled in the late 18th century, along with the rest of the area, and was agricultural until the construction of the Louisville, Harrods Creek and Westport Railroad in the 1870s. The area was originally known as
, and the new self-promotional name emerged when it was time to choose a name for a post office around 1900.
Although a few luxury residences existed in the area since the late 1800s, it was largely agricultural until the mid-1960s when large, high-end subdivisions were built in the area, most notably Hunting Creek, which included a golf course. Prospect incorporated as a city in 1974.
According to the United States Census Bureau, the city has a total area of 4.0 square miles (10.4 km²).None of the area is covered with water.