The administrative district of Prague 5 consists of several neighbourhoods, including Smíchov, Radlice, Košíře, Barrandov, Zlíchov, Zličín, and Jinonice.

Reconstruction of Anděl in Smíchov has led to the building of thousands of offices and a large shopping mall. Anděl also has the largest underground garages in Prague.

Real estate in Prague 5 mainly consists of small panelaks, old family houses, and apartments whose prices go from mid-range to high as one gets closer to Malá Strana. Some of the newer apartments can be found in Jinonice and Butovice, while old family houses and cheaper panelaks are found in Kosire, Motol, Hlubocepy, and Radlice.

A downside to living in Prague 5 is the state of public transportation in the area, the distance of certain neighbourhoods from the city centre, and bumper-to-bumper traffic in certain streets.