Prospect is a northeastern Jefferson county town that extends into Oldham county. The area was known as Sand Hill, for its topography, until the late 1870s, when it was renamed Prospect, perhaps for the view. Prospect was incorporated in 1974. The post office opened in 1886 as Wilhoyte, for the postmaster, and was renamed Prospect the same year. The population in 2010 was 4,698.