Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Maybe after bopping around areas that are overly-pricey for what they are I'm a little jaded, but I was surprised to find how affordable houses in the Lousiville area are and I'm just curious to the 'Whys'. My price range is around 120k-170k and as I'm scrolling through I was pretty pleased with how much house and yard you can get for that price!
Is there market stagnation? High-turn over rates? I was just wondering what factors play into that.
Maybe after bopping around areas that are overly-pricey for what they are I'm a little jaded, but I was surprised to find how affordable houses in the Lousiville area are and I'm just curious to the 'Whys'. My price range is around 120k-170k and as I'm scrolling through I was pretty pleased with how much house and yard you can get for that price!
Is there market stagnation? High-turn over rates? I was just wondering what factors play into that.
Not only wages, but just a super underrated area...I just cannot see this lasting much longer. I feel like almost every other city in the SE has been discovered by those migrating South from the Midwest and NE....Louisville is just starting to get in on that mix.
Not only wages, but just a super underrated area...I just cannot see this lasting much longer. I feel like almost every other city in the SE has been discovered by those migrating South from the Midwest and NE....Louisville is just starting to get in on that mix.
Prices are always indicative of supply and demand, and Louisville metro has not had significant enough new job growth for demand and prices to rise accordingly. Since I've been back in the area again I have noticed that the air quality is better than 5 years ago, so that is a solid improvement.
Prices are always indicative of supply and demand, and Louisville metro has not had significant enough new job growth for demand and prices to rise accordingly. Since I've been back in the area again I have noticed that the air quality is better than 5 years ago, so that is a solid improvement.
Louisville has some of its lowest unemployment in years and really is booming. For anyone interested, I will be organizing a forum offline event as I want to show people the development going on, block by block. It is getting very impressive.
Location: New Albany, Indiana (Greater Louisville)
11,974 posts, read 25,476,450 times
Reputation: 12187
Metro area income is not much different between Louisville ($40k) and large markets like NYC and DC who are at $50k. Income is 20% less but cost of living is 3X less. I'll take that all day long. Part of it is people like me from rural areas being used to super cheap housing. In rural KY and IN a nice home cost $75k. Even moving to the city and making more money the mentality that housing should be cheap remains in your psyche
Metro area income is not much different between Louisville ($40k) and large markets like NYC and DC who are at $50k. Income is 20% less but cost of living is 3X less. I'll take that all day long. Part of it is people like me from rural areas being used to super cheap housing. In rural KY and IN a nice home cost $75k. Even moving to the city and making more money the mentality that housing should be cheap remains in your psyche
Census, do you think New Albany is worth the additional cost savings? I am really impressed that you can literally get a historic mansion there for 200k.
Like many legacy cities, Louisville is somewhat overbuilt from it's golden age (that of river travel and to a lesser extent railroad). There aren't necessary a ton of jobs considering the cities size, which if you are one of those with a good job works out very well. When UPS chose the city as it's huge, it did so due to geographic location as well as the ability to pay relatively low wages. That generally means there's a large demand for good paying jobs. There are jobs, but relative to other cities those jobs do not pay very well.
I will say Louisville is a bit underrated (by outsiders, it's certainly overrated by the locals) as people tend not to migrate from the area and express it's strengths, but this is also because Louisville also doesn't attract a huge number of migrants relative to other cities.
I'd imagine you'll enjoy living there. It's not perfect by any means, but if you have access to a good job it has a decent amount of amenities for a relatively low price.
Location: New Albany, Indiana (Greater Louisville)
11,974 posts, read 25,476,450 times
Reputation: 12187
Here is a great article outling Louisville's wage struggles vs nearby peer cities like Cincinnati, Nashville, and Indy. We have average wages less across the board. The reasons the article sites are...
1. Kentucky has low property tax with high occupational taxes. Great for horse farms, bad for tech.
2. Work force is less educated on average
2A. Work force flooded by people from poorest places in America. They'll gladly move here and make lower wages than other cities because it's more than the minimum wage they'd make back home.
Hopefully more jobs will be created on the better governed Indiana side in the future. I'm a 10th generation Kentuckian with little hope that Frankfort will ever get serious about making our state more competitive.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
