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E&Y Kenneth Leventhal Real Estate Group has named Louisville the nation's ninth most
affordable housing market, based on the cost of "mid-management" style homes and
apartments, relative to local household income. Additionally, U.S. News & World
Report ranked Louisville the 15th best housing market of the nation's 100 top
metro areas, based on the consistently healthy record in annual price appreciation.
From exciting new concepts in urban design to the nation's largest preservation
district of Victorian homes, the Louisville's housing market can meet anyone's
needs. Furthermore, with housing costs over 14% below the national average
Louisville's housing affordability helps insure several options.
- Average purchase price for a 2,400 sq. ft. new house is $262,592.
- Source: ACCRA Cost of Living Index, 2nd Quarter 2006
- Median sale price of a single-family existing home is $131,100.
- Source: National Association of Realtors, 1st quarter 2006
- The monthly rental rate for a 950-square-foot, unfurnished two-bedroom apartment averages $829
To connect with a local realtor - http://www.louisvillerealtors.com/
For information on rental housing check out the nations leading internet listing company to
find or advertise houses for rent and apartments at RentalHouses.com, a Louisville-based
company. http://www.rentalhouses.com
Louisville's housing is not only affordable but embraces exciting new concepts in urban design:
- Norton Commons- a suburban village on a 600-acre farm in eastern Jefferson County. Designed by internationally known architect and urban planner, Andres Duany, it is the first Traditional Neighborhood Development built in Kentucky in over 100 years and will include 2,800 new residences, several retail villages and a 20-acre commercial office campus. The project also incorporates more than 160 acres of green space and parks. http://www.nortoncommons.com
- The Louisville Glassworks Lofts- a studio and housing complex, aimed at attracting young professionals and artists downtown. There are 44 apartments on the sixth, seventh and eighth floors, which is where the best views can be found. The first and second floors of the facility house VonRoenn's Architectural Glass Art, which produces works for commercial, residential and institutional space. The building also has studio space for resident glass artists, a glassblowing facility, a gallery and a cafe. http://www.louisvilleglassworks.com/
- Museum Plaza- is a plan to construct, a 703 foot tall and 61 story mixed use building that will house condominiums, art galleries, retail stores and a school of art. Once constructed it will be the tallest building in the region. http://www.museumplaza.net/
- Louisville Metro has developed a downtown housing fund to encourage new housing options.
Currently there are 400 new housing units recently completed, 400 housing units under construction and 600 housing units in development, including the just-opened Waterfront Park Place, the Park Place Lofts and the redevelopment of the old YWCA Building.
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