Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 615,366, 245,017 total housing units (homes and apartments), and a median house value of $148,622, Louisville real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Louisville, accounting for 64.43% of the city's housing units. Other types of housing that are prevalent in Louisville include large apartment complexes or high rise apartments ( 20.20%), duplexes, homes converted to apartments or other small apartment buildings ( 9.71%), and a few row houses and other attached homes ( 3.94%).
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 59.05% owning and 40.95% 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 35.81% of the city's housing hails from this era. Other housing ages represented in Louisville include homes built between 1970-1999 ( 32.82%) and housing constructed before 1939 ( 17.60%). There's also some housing in Louisville built between 2000 and later ( 13.77%).
Vacant housing appears to be an issue in Louisville. Fully 10.66% 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.
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 7.41%, which ranks in the top 40% nationwide. This equates to an annual average Louisville house appreciation rate of 0.72%.
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 6.17%, which is higher than appreciation rates in 75.48% 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 1.69%, which equates to an annual appreciation rate of 6.95%.
Importantly, this makes Louisville one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
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.
|$846,001 - $1,128,000||0.6|
|$564,001 - $846,000||1.9|
|$452,001 - $564,000||2.3|
|$339,001 - $452,000||5.7|
|$226,001 - $339,000||12.9|
|$113,001 - $226,000||42.8|
|$56,001 - $113,000||24.3|
|$0 - $56,000||8.9|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Louisville HOMES|
|2000 or Newer||13.8|
|1970 - 1999||32.8|
|1940 - 1969||35.8|
|1939 or Older||17.6|
|TYPE OF Louisville HOMES|
|Small Apt. Buildings||9.7|
|SIZE OF Louisville HOMES|
|5 or more bedrooms||3.44|