As the capital and largest city in Kentucky, with a history that dates back to the late 18th century, Louisville has much to offer residents. It boasts a population a little more than 746,000 spread over a consolidated area of 399 square miles, a strong and growing economy, and world-class events like the Kentucky Derby. Some of the biggest brands in the world including Papa John's Pizza, UPS Airlines, Yum! Brands and Norton Healthcare call Louisville home. With its independent art scene, plenty of housing options and strong presence in American pop culture, the city has grown to become one of the brightest lights in not just Kentucky, but the entire country.
Check out 300 Louisville, KY rent to own homes for sale, which may include auction properties, for sale by owner, and more.
Housing Statistics As one of the most important cities in the South, Louisville has witnessed an economic renaissance of late as artists and young professionals flood the city. This has affected home prices, with median sales price hitting $155,000 - up 15.1% on a year-to-year basis. Average listing price, however, is $208,340, down very slightly by 0.7%. Buyers have been mopping up the real estate market after the fall in prices following the recession - the number of homes sold has jumped to 1,767, up 123% on a year-to-year basis. Vacancy rates, however, are up, nudging north of 14.4% from 13.8% over the same period last year. This has affected the rental rates, with median rent list price at just $690 - up 5.4% over last year, which makes it a great time to snap some deals on rent to own homes.
Weather and Climate Louisville's climate is considered humid subtropical. Summers are indeed hot and humid, especially in areas along the Ohio River. The interiors are slightly drier, though temperatures can still touch 100 degrees Fahrenheit. Heavy rainfall in summer only adds to the humidity with the city witnessing an average rainfall of 44.9 inches per year.
Arts and Culture The prestigious Kentucky Derby is the city's most important cultural event. More than a horse race (rather, the horse race), the Kentucky Derby is a two-week long festival that celebrates the spirit and culture of Louisville and Kentucky. The horse racing itself, of course, is spectacular. But if watching jockeys race thoroughbreds around a track isn't your thing, you can also enjoy events such as the Great Balloon Race, the Great Steamboat Race and the Pegasus Parade which are part of the Kentucky Derby Festival.
NeighborhoodsCrescent Hill: Crescent Hill is often ranked at the top of Louisville's most desirable neighborhoods list, and it's easy to see why: the houses are small, cozy, historic and built in late Victorian style, and most amenities are within walking distance. There are plenty of parks in the neighborhood and it has a distinct urban-meets-suburban vibe which has made it popular with relatively affluent families.
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