Property Makler
Advanced analytics for residential real estate investing

Louisville/Jefferson County, KY-IN housing market

Housing market indicators

Indicator	2022	2023	2024	2025*	2022	2023	2024	YTD
Median Listing Price per Square Feet	$162	$170	$173	$178	5.2%	4.9%	1.8%	2.9%
Active Listing Count	2,384	2,483	2,821	3,688	35.9%	4.2%	13.6%	30.7%
Median Days on Market	52	50	51	41	26.8%	-3.8%	2%	-19.6%
Share of listings with price increase	1.6%	0.9%	0.9%	0.6%
Share of listings with price decrease	14.1%	15.6%	17.4%	18.6%

* last available value

Note: 12M MA - 12 months moving average, Permits - New Private Housing Structures Authorized by Building Permits. Source: FRED

The Louisville/Jefferson County, KY-IN Metropolitan Statistical Area (MSA) spans parts of Kentucky and Indiana with a 2024 population of approximately 1,394,234 across 3,960.8 square miles and a density of 344.6 people per square mile.
It includes Jefferson County, KY (core with Louisville Metro population 771,158; balance 621,349) plus 11 surrounding counties: Bullitt, Henry, Oldham, Shelby, Spencer (KY); Clark, Floyd, Harrison, Scott, Washington (IN).
Key urban centers: Louisville (largest city, 633,045 balance population in 2020), Jeffersonville, IN (52,912), New Albany, IN (37,652), Jeffersontown, KY.
Geographic regions: Central urban core (Jefferson County, KY), Indiana suburbs (Clark/Floyd Counties), eastern/southern KY exurbs (Oldham, Shelby Counties).

Area	City/Town	Population	Density	Income	Quality of Schools	Crime Level	Property Tax (%)	Comments
Central KY	Louisville (Balance)	633,045 (2020)	High urban	Median	Mixed (5-9/10 GreatSchools)	Moderate-high	0.85%	Urban core, merged city-county
Central KY	Jeffersontown	>25,000	Suburban	High	7-9/10	Low	0.85%	Affluent suburb
IN Suburbs	Jeffersonville	52,912 (2024)	182.8/sq mi (region)	Medium-high	6-8/10	Moderate	0.81%	Largest IN city, growing
IN Suburbs	New Albany	37,652 (2024)	Urban-suburban	Medium	5-7/10	Moderate	0.81%	Riverfront, historic
IN Suburbs	Clarksville	22,041 (2024)	Suburban	Medium	6-8/10	Low-moderate	0.81%	Retail hub
KY Exurbs	Shelbyville	~16,000	Low	High	8-10/10	Low	0.85%	Growing commuter town
KY Exurbs	La Grange	~11,000	Low	Medium-high	7-9/10	Low	0.85%	Oldham County, desirable

To view all table columns, please open this table on a laptop or desktop screen.

Median household income: $71,737 (2023).
Median age: 39.3 years; racial breakdown: 72% White, 14% Black, 2% Asian, 6% Hispanic.
Education: Bachelor's degree or higher ~32% (metro average); higher in suburbs like Oldham County (>40%), lower in urban core (~25%).
Personal income: Driven by manufacturing and logistics jobs; per capita income ~$35,000-$40,000.
KY areas: No local personal income tax beyond state 4.5-5%; IN areas: Local adjustments minimal, state flat 3.15%.

Manufacturing: 15% employment, led by automotive (Ford plants), appliances (GE Appliances).
Logistics/Transportation: UPS Worldport hub, Ohio River port; 10% jobs.
Healthcare: Norton, Baptist systems; 12% employment growth.
Bourbon/Spirits: Distilleries like Brown-Forman, Heaven Hill.
Professional Services: Growing finance, insurance in downtown Louisville.
Tourism: Kentucky Derby, bourbon trail attract 20M+ visitors/year.

Zoning: Louisville Metro moderate openness; suburban KY/IN counties more permissive for single-family builds.
Regulatory strictness: KY flood plain rules tighten riverfront development; IN faster permitting (avg 6-9 months vs KY 9-12).
Construction workforce: Labor shortage post-COVID; costs up 20% since 2020, skilled trades $30-50/hr.
New supply: 4,000-5,000 units/year; focus on multifamily in urban core, SFH in exurbs.
Land availability: Abundant in exurbs (Oldham, Shelby), constrained in Jefferson core.

Net migration: +3,161 domestic (IN side 2023-2024); international +362; natural increase negative (-552).
Growing industries: Logistics (UPS expansion), healthcare (hospital builds), advanced manufacturing (battery plants).
In-migration: From high-cost metros (Cincinnati, Nashville); remote workers to suburbs.
Declining: Traditional coal-related in outer counties; urban core out-migration to suburbs.
Population growth: 0.55% annual 2020-2024; projected to 1.4M+ by 2030.

Inventory shortage: 2-3 months supply; median days on market 25-35.
Affordability: Median home $280,000-$320,000; price-to-income ratio 4.5x in core.
Urban crime: Higher rates in west Louisville deter buyers; suburbs safer.
Infrastructure: Aging sewers, traffic on I-65/I-71; flood risk along Ohio River.
Labor costs: Construction delays from workforce gaps; material inflation 10-15% yearly.
Interest rates: 6-7% mortgages slow first-time buyers; rents up 5% YoY.

Area	Appreciation Potential	Risk	Key Drivers
East Louisville/Jeffersontown	High	Low	Affluent, low crime, top schools; 5-7% annual appreciation
Oldham/Shelby Exurbs	High	Medium	Commuter growth, new builds; land supply supports 6-8% gains
IN Suburbs (Jeffersonville/New Albany)	Medium-High	Low	Migration influx, lower taxes; riverfront redevelopment 4-6%
Central Louisville Core	Medium	High	Downtown revival vs crime/floods; 3-5% with volatility
West Louisville	Low	High	High crime, poverty; minimal appreciation, rental focus
Outer IN (Harrison/Washington)	Low-Medium	Medium	Rural, slow growth; value plays 2-4%

Overall MSA appreciation: 4-6% annualized past 5 years; suburbs outperform core by 2x.
Investment note: Focus east/IN for stability; core for value-add flips.