Prescott is located in Nevada County (of which it is the county seat) northeast of Texarkana, between Hope and Gurdon along US Hwy 67 near Terre Rouge Creek.
The population estimate for July 1, 1998 was 3,487, a decrease of 186 since 1990.
Some popular attractions in the Prescott area include: White Oak Lake State Park, Prescott Raceway, Prescott Country Club, Battle of Prairie DeAnn Civil War Site, Battle of Moscow Civil War Site, National Register Sites, Prescott Railroad Depot (1911), Old Iron Bridge (1896-1898) and the Moscow Church (1850's).