
Cheap Apartments for Rent in the Prospect Neighborhood of Mobile, AL from $700 (4 Rentals)
Search the lowest-cost Apartments available for rent right now in the Prospect area of Mobile.


Total Monthly Price
Acasa Inverness Lakes
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

Charleston Apartment Homes

Lakeview at Cottage Hill
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.
Prospect, Mobile, AL Local Guide

How much does it cost to rent an apartment in Prospect?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Prospect 1 Bedroom Apartments | $1,241 | $781 | $1,395 |
| Prospect 2 Bedroom Apartments | $1,418 | $887 | $1,531 |
| Prospect 3 Bedroom Apartments | $1,552 | $1,171 | $1,750 |
Browse Apartments in this Neighborhood
There are currently 4 rentals with your search options within a 2 mile radius of the Prospect Neighborhood of Mobile, AL.
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Best Value Apartments for Rent in Prospect, AL
As of May 03, 2026 the best value apartment in the Prospect area is the $0.82 price per square foot 3 Bed 2 Bath Model at Acasa Inverness Lakes in the in the West Mobile neighborhood starting from $1,171. The second greatest value Prospect apartment is the The Haven Model at Cypress Cove Apartment Homes starting at $1,409 with a $1.16 price per square foot in the West Mobile neighborhood. Here is today’s list of the best values for Prospect apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Acasa Inverness Lakes | 3 Bed 2 Bath | 3BR,2BA | $0.82 |
| Cypress Cove Apartment Homes | The Haven | 2BR,2BA | $1.16 |
| Charleston Apartment Homes | Two Bedroom | 2BR,2BA | $1.34 |
Frequently Asked Questions about Cheap Prospect Apartments
What is the lowest price for a Cheap Two Bedroom Prospect Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Prospect is starting from $887 at Acasa Inverness Lakes.
What is the most affordable Prospect Three Bedroom Apartment?
The best deal on a cheap Prospect Three Bedroom Apartment rental is at Acasa Inverness Lakes and starts from $1,171.
Expert Rental Resources
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.
Articles, How-To's, and Tips

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.