It is located on the southern edge of the Great Karoo, at the foot of the Swartberg mountains.

[7] The three largest economic sectors by value in the town's economy being government services (21%), agriculture (19%), and retail and tourism (15%).

[6] The town hosts a number of private art galleries and relatively large community of artists.

[3] Since the mid-1990s the town has experienced an economic boom which has been driven by the increasing number of artists and retirees moving to it.

[3] Prince Albert has a small local population, mainly engaged in farming and tourism.