Quick facts: Louisville, KY

Quick Facts

95.0
Cost of Living
below US average
246,161
Population
32.5
Crime Rate per 1000
above US average
$60,000
Median Income
below US average
$199,900
Median House Price
above US average
$1274.51
Average Rent
below US average
15%
Poverty Rate
above US average
5.0%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $60,000.

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Income Needed to Buy

βœ— Stretch
$63k/year
Based on $199,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $63k vs median $60,000
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Income Needed to Rent

βœ“ Affordable
$55k/year
Based on $1274.51/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($60,000) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Louisville, KY

Louisville, Kentucky, is a vibrant city known for its rich history, diverse culture, and southern hospitality. Nestled along the Ohio River, it is the largest city in the state and is famous for the Kentucky Derby, which has been a tradition since 1875. The city's historic downtown area features a mix of modern and historic architecture, with landmarks such as the iconic Churchill Downs racetrack and the Muhammad Ali Center, honoring the life of the boxing legend who was born here. Louisville is also recognized for its culinary scene, particularly its bourbon production, with numerous distilleries offering tours. The city is home to the β€œUrban Bourbon Trail,” attracting visitors to its many bars and restaurants that showcase the best of Kentucky’s signature spirit. In addition to its lively arts scene, with venues like the Louisville Palace and the Speed Art Museum, the city boasts numerous parks, including the expansive Louisville Metro Parks system. Sports fans can enjoy a variety of events, from college basketball to minor league baseball with the Louisville Bats. With its unique blend of history, culture, and entertainment, Louisville offers a welcoming atmosphere for both residents and visitors.

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