Louisville, KY

Overview:

• County: Jefferson County
• Property tax rate: 1.1%
• Population: 620,000
• Size Rank: 1st in Kentucky, 30th in United States
• Industries: logistics, bourbon, healthcare, data science

Did you know?

• Louisville is a major ecommerce and logistics hub for UPS, Amazon.
• There is a scarcity of buildable land.
• Louisville International Airport (SDF) is a 5 to 15 minute car ride from most neighborhoods.
• Low cost of living makes Louisville an attractive place for young people to settle down.
• Largest city in the state of Kentucky with over 620,000 residents and growing steadily.
• Emerging tech/data economy with diverse group of major employers including UPS, Humana, YUM Brands.
• Comparatively low prices for single family and multi-family properties.

Insights from our local experts:

• "Slow to rise, slow to fall" -- insulated compared to most other markets
• Cash flow play with good equity appreciation
• Investment properties appreciating between $7,500 - $10,000 per year
• Can easily hit 1% rule, as high as 1.3% (monthly rent ÷ purchase price)
• Quadplexes in $150,000 range that cashflow $2,200/month
• D-grade homes with 25% cap rates are not uncommon but you need to make sure they are rented
• B-grade property for $90,000 range
• C-grade property has good appreciation, low risk
• Nowhere to build in Louisville, everything is getting renovated and turned over.
• Louisville property values are not affected by school district due to Jefferson County Public Schools Student Assignment Plan.
• Not a lot of natural disasters -- low tornado risk, most houses next to Ohio River are not in flood plain.
• No hard water, natural limestone filtration shelf -- the best bourbon shorts with the best water...
• Convenient commuting, can get most places in under 15 minutes.​

Favorite neighborhoods to find bargains:

• Newburg
• Shively
• Okolona
• Fairdale
• Valley Station
• Beuchel
• Churchill Downs

Proximity to other cities (by car):

• Lexington, KY: 1 hour 25 minutes (77 miles)
• Cincinnati, OH: 1 hour 35 minutes (100 miles)
• Indianapolis, IN: 1 hour 50 minutes (115 miles)
• Dayton, OH: 2 hours 30 minutes (153 miles)
• Nashville, TN: 2 hours 40 minutes (176 miles)
• Columbus, OH: 3 hours 10 minutes (206 miles)
• Chicago, IL: 4 hours 45 minutes (299 miles)

Sources:

• Greater Louisville Association of Realtors: Market Statistics
• U.S. Census QuickFacts: Louisville, Jefferson County, Kentucky
• Louisville Metro Open Data