Louisville, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Louisville Neighborhoods Since 2000




Louisville, KY Real Estate Data


Louisville Housing Market Information

With 615,366 people, 244,662 houses or apartments, and a median cost of homes of $176,397, Louisville real estate is some of the most expensive in Kentucky, although Louisville home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Louisville, accounting for 64.40% of the city's housing units. Other types of housing that are prevalent in Louisville include large apartment complexes or high rise apartments ( 20.21%), duplexes, homes converted to apartments or other small apartment buildings ( 9.78%), and a few row houses and other attached homes ( 3.95%).

The most prevalent building size and type in Louisville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.39% owning and 40.61% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Louisville's housing was primarily built during this period, from the '40s through the '60s. A full 36.29% of the city's housing hails from this era. Other housing ages represented in Louisville include homes built between 1970-1999 ( 32.36%) and housing constructed before 1939 ( 18.15%). There's also some housing in Louisville built between 2000 and later ( 13.20%).

Vacant housing appears to be an issue in Louisville. Fully 10.51% of the housing stock is classified as vacant. Left unchecked, vacant Louisville homes and apartments can be a drag on the real estate market, holding Louisville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Louisville Home Appreciation Rates

Appreciation rates for homes in Louisville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.30%, which ranks in the top 40% nationwide. This equates to an annual average Louisville house appreciation rate of 0.71%.

Appreciation rates are so strong in Louisville that despite a nationwide downturn in the housing market, Louisville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Louisville appreciation rates continue to be some of the highest in America, at 6.00%, which is higher than appreciation rates in 74.15% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Louisville. Louisville appreciation rates in the latest quarter were at 1.70%, which equates to an annual appreciation rate of 6.96%.

Relative to Kentucky, our data show that Louisville's latest annual appreciation rate is higher than 80% of the other cities and towns in Kentucky.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Louisville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Louisville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Louisville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$176,397

Louisville, KY HOME PRICES

Value Range
> $1,127,000 0.6
$845,001 - $1,127,000 0.6
$564,001 - $845,000 1.8
$451,001 - $564,000 2.3
$338,001 - $451,000 5.5
$225,001 - $338,000 12.9
$113,001 - $225,000 43.5
$56,001 - $113,000 23.8
$0 - $56,000 9.0

Very High for KY
Average for Nation

Value Relative to Nation Value Relative to State
40.4579258651988 14.2857142857143

Number Of Homes And Apartments:
244,662

Rent & Ownership

 

Average Market Rent:
$971 / per month

Homeownership Rate

Homeownership
Owners 59.39
Renters 40.61
Vacant 10.51

Housing Market Details

 

Age of Homes

AGE OF Louisville HOMES
2000 or Newer 13.2
1970 - 1999 32.4
1940 - 1969 36.3
1939 or Older 18.2

Types of Homes

TYPE OF Louisville HOMES
Single-Family 64.4
Townhomes 4.0
Small Apt. Buildings 9.8
Apt. Complexes 20.2
Mobile Homes 1.6
Other 0.0

Home Size

SIZE OF Louisville HOMES
No Bedroom 1.87
1 Bedroom 13.18
2 Bedrooms 29.26
3 Bedrooms 37.91
4 Bedrooms 14.29
5 or more bedrooms 3.49

Louisville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
29.58% 1.54% 4 3
* 10 is highest