4.69% of the population for whom poverty status is determined in Prescott, IA (10 out of 213 people) live below the poverty line, a number that is lower than the national average of 12.5%. The largest demographic living in poverty are Males 55 - 64, followed by Females 35 - 44 and then Males 75+.

The most common racial or ethnic group living below the poverty line in Prescott, IA is White, followed by Hispanic and Black.

The Census Bureau uses a set of money income thresholds that vary by family size and composition to determine who classifies as impoverished. If a family's total income is less than the family's threshold than that family and every individual in it is considered to be living in poverty.