Louisville/Jefferson County metro government (balance), Kentucky Housing Market Prices
Louisville/Jefferson County metro government (balance) 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.
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Median home price 19% above the Kentucky median$140,863
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Median rent 24% above the Kentucky median$1,199
Housing Market Overview
| Metric | Louisville/Jefferson County metro government (balance) | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $140,863 | $118,017 | $248,835 |
| Price Trend (Annual %) | 1.3% | 3.8% | 7.5% |
| Median Gross Rent | $1,199 | $967 | $1,407 |
| Rent Trend (Annual %) | 5.0% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Louisville/Jefferson County metro government (balance) is about 19% higher than in Kentucky. Rent is about 24% 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/Jefferson County metro government (balance), up about 1.3% and 5.0% a year respectively. Rent is changing faster.
Median rent in Louisville/Jefferson County metro government (balance) rose about 52.9% between 2015 and 2024, from $784 to $1,199. Over the same span, rent in Kentucky rose about 43.3%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Louisville/Jefferson County metro government (balance).
Buying the median-priced home in Louisville/Jefferson County metro government (balance) costs roughly 9.8 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/Jefferson County metro government (balance). The price-to-rent ratio in Kentucky is about 10.2.
| Metric | Louisville/Jefferson County metro government (balance) | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $140,863 | $118,017 | $248,835 |
| Median Household Income | $75,981 | $64,312 | $80,455 |
| Price-to-Income Ratio | 1.9 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Louisville/Jefferson County metro government (balance) fell about 0.8%, while median household income rose about 44.7% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Louisville/Jefferson County metro government (balance) | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.0% | 61.3% | 58.5% |
| Rental Rate | 28.8% | 28.4% | 31.2% |
| Vacancy Rate | 5.2% | 10.3% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Louisville/Jefferson County metro government (balance) has a homeownership rate of 66.0%, higher than the Kentucky average of 61.3%. Its housing vacancy rate is 5.2%, compared with 10.3% in Kentucky.
Housing Stock
| Metric | Louisville/Jefferson County metro government (balance) | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1985 | 1981 | 1978 |
| Median Number of Rooms | 5.8 | 5.7 | 5.5 |
The typical housing unit in Louisville/Jefferson County metro government (balance) was built around 1985. On average, 2.5 people live in a home with about 5.8 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Louisville/Jefferson County metro government (balance), Kentucky.
What is the median home price in Louisville/Jefferson County metro government (balance), Kentucky?
The median home price in Louisville/Jefferson County metro government (balance), Kentucky is $140,863, higher than the Kentucky average of $118,017.
What is the average home price in Louisville/Jefferson County metro government (balance), Kentucky?
The typical home price in Louisville/Jefferson County metro government (balance), Kentucky, reported as the median sale price, is $140,863. 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/Jefferson County metro government (balance), Kentucky?
The median gross rent in Louisville/Jefferson County metro government (balance), Kentucky is $1,199 per month, higher than the Kentucky average of $967.
What was the median gross rent in Louisville/Jefferson County metro government (balance) in 2020?
In 2020, the median gross rent in Louisville/Jefferson County metro government (balance), Kentucky was $958 per month.
What is the price-to-rent ratio in Louisville/Jefferson County metro government (balance), Kentucky?
The price-to-rent ratio in Louisville/Jefferson County metro government (balance), Kentucky is about 9.8, meaning it would take roughly 9.8 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/Jefferson County metro government (balance).
Are home prices or rent rising faster in Louisville/Jefferson County metro government (balance), Kentucky?
Both home prices and rent are rising in Louisville/Jefferson County metro government (balance), up about 1.3% and 5.0% a year respectively. Rent is changing faster.
What is the homeownership rate in Louisville/Jefferson County metro government (balance), Kentucky?
66.0% of households in Louisville/Jefferson County metro government (balance), Kentucky own their home, higher than the Kentucky average of 61.3%.
What is the vacancy rate in Louisville/Jefferson County metro government (balance), Kentucky?
The housing vacancy rate in Louisville/Jefferson County metro government (balance), Kentucky is 5.2%, lower than the Kentucky average of 10.3%.
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