Louisville, Kentucky Housing Market Prices
Louisville Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
-
Median home price 40% above the Kentucky median$165,712
-
Median rent 7% above the Kentucky median$1,035
Housing Market Overview
| Metric | Louisville | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $165,712 | $118,017 | $248,835 |
| Price Trend (Annual %) | 11.3% | 3.8% | 7.5% |
| Median Gross Rent | $1,035 | $967 | $1,407 |
| Rent Trend (Annual %) | 5.0% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Louisville is about 40% higher than in Kentucky. Rent is about 7% higher than the Kentucky average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Louisville, up about 11.3% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Louisville rose about 52.8% between 2015 and 2024, from $677 to $1,035. Over the same span, rent in Kentucky rose about 43.3%.
Affordability
On average, housing unit costs 3.0 yearly household incomes in Louisville.
Buying the median-priced home in Louisville costs roughly 13.3 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Louisville. The price-to-rent ratio in Kentucky is about 10.2.
| Metric | Louisville | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $165,712 | $118,017 | $248,835 |
| Median Household Income | $54,675 | $64,312 | $80,455 |
| Price-to-Income Ratio | 3.0 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Louisville rose about 98.8%, while median household income rose about 55.1% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Louisville | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.7% | 61.3% | 58.5% |
| Rental Rate | 44.5% | 28.4% | 31.2% |
| Vacancy Rate | 12.8% | 10.3% | 10.2% |
| Median Tenure (years) | 12.0 | 15.0 | 15.0 |
| Median Year Moved In | 2014 | 2011 | 2011 |
Louisville has a homeownership rate of 42.7%, lower than the Kentucky average of 61.3%. Its housing vacancy rate is 12.8%, compared with 10.3% in Kentucky.
Housing Stock
| Metric | Louisville | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.12 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1954 | 1981 | 1978 |
| Median Number of Rooms | 4.9 | 5.7 | 5.5 |
The typical housing unit in Louisville was built around 1954. On average, 2.1 people live in a home with about 4.9 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Louisville, Kentucky.
What is the median home price in Louisville, Kentucky?
The median home price in Louisville, Kentucky is $165,712, higher than the Kentucky average of $118,017.
What is the average home price in Louisville, Kentucky?
The typical home price in Louisville, Kentucky, reported as the median sale price, is $165,712. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Louisville, Kentucky?
The median gross rent in Louisville, Kentucky is $1,035 per month, higher than the Kentucky average of $967.
What was the median gross rent in Louisville in 2020?
In 2020, the median gross rent in Louisville, Kentucky was $804 per month.
What is the price-to-rent ratio in Louisville, Kentucky?
The price-to-rent ratio in Louisville, Kentucky is about 13.3, meaning it would take roughly 13.3 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Louisville.
Are home prices or rent rising faster in Louisville, Kentucky?
Both home prices and rent are rising in Louisville, up about 11.3% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Louisville, Kentucky?
42.7% of households in Louisville, Kentucky own their home, lower than the Kentucky average of 61.3%.
What is the vacancy rate in Louisville, Kentucky?
The housing vacancy rate in Louisville, Kentucky is 12.8%, higher than the Kentucky average of 10.3%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →