Louisville, Kentucky is a major city located in the north central part of the state along the Ohio River. With a population of over 600,000 residents, it is the largest city in Kentucky and 29th largest city in the U.S. Louisville is known for many things including the Kentucky Derby, Louisville Slugger baseball bats, the University of Louisville, Southern cuisine and bourbon distilleries.
For those considering a move to Louisville, an important question to ask is: is Louisville a good place to live? There are many factors to consider when determining if a city is an ideal place to put down roots. In this article, we will explore what makes Louisville a livable city including the job market, economy, housing, schools, crime rates, transportation and more. We will look at the pros and cons of living in Louisville to help you decide if it’s the right fit for you.
Job Market and Economy in Louisville
The job market and economic conditions are important factors when considering a move. Below are key points about the Louisville job market and economy:
Low Unemployment Rate
As of August 2022, Louisville’s unemployment rate was 2.9%, lower than the national unemployment rate of 3.7%. This indicates there are abundant job opportunities in the city. A diverse mix of thriving industries supports Louisville’s strong job market.
Top Employers and Industries
Major employers in Louisville include Humana, UPS, Ford Motor Company, GE Appliances, and Norton Healthcare. Top industries include healthcare, logistics, manufacturing, food/beverage production, finance, and government. The largest job sectors are healthcare, retail trade, and accommodation and food services.
Business Climate and Growth
Louisville has a business-friendly tax structure and reasonable cost of living which helps attract new companies. Over the last decade, Louisville’s GDP grew by 2.7%, showing steady economic expansion. Louisville is working to grow its bioscience and tech industries. Continued business investment and development point to a bright economic outlook.
Average Salaries
The average annual salary in Louisville is $51,800, below the national average of $56,310 (as of August 2022). While wages are lower than other major metro areas, the cost of living is also more affordable. Salaries vary significantly by industry, with healthcare and tech workers earning the highest wages in Louisville.
Overall, Louisville’s diverse job market, business growth, and low unemployment rate make it appealing for job seekers. The economy offers stability and continued expansion in key industries.
Housing Market in Louisville
Housing costs are another major factor to weigh when relocating. Here is an overview of Louisville’s housing market:
Housing Prices
According to Zillow data, the median home price in Louisville is $195,000 as of October 2022. Home values have risen 14.3% over the past year. While prices have increased due to high demand, Louisville home prices remain below the national median of $320,000.
Cost of Living
The cost of living in Louisville is 7% lower than the U.S. average. Housing costs are especially affordable, 24% below the national benchmark. Goods and services are also cheaper compared to most major cities. Lower costs stretch incomes further for Louisville residents.
Rental Market
As of October 2022, the average rent in Louisville for a 1-bedroom apartment is $925 per month. For a 2-bedroom, the average is $1,100. Rental rates have spiked 18% from last year, but remain affordable versus other large metro areas. Vacancy rates are very low at 4.2%, indicative of high demand.
New Construction
New housing construction is booming in Louisville. 5,500 new housing units were permitted in 2021. Large master-planned suburban communities and urban apartment/condo projects are underway across the metro. This new inventory will provide more options for both homeowners and renters.
With reasonable home prices, low cost of living, and abundant new construction, Louisville offers an attractive housing market compared to similar Midwest cities. Housing costs are a key advantage to living in Louisville.
Education in Louisville
For families moving to the area, Louisville’s education system is an important consideration. Here are some key facts about schools in Louisville:
Public Schools
Louisville public schools are managed by Jefferson County Public Schools (JCPS). JCPS serves over 100,000 students across 167 schools, making it one of the 30 largest school districts in the U.S. The district actively works to increase diversity and offers magnet programs/schools focused on areas such as science, technology, engineering, arts, and early childhood education.
Test Scores
The average ACT score for JCPS students is 18.6, below the Kentucky state average of 19.8 and national average of 20.3. 25% of JCPS graduates are considered college ready based on ACT scores. While scores lag behind state/national averages, it’s similar to other large urban school districts.
High Schools
JCPS has over 25 traditional high schools, plus 12 magnet and 7 special/alternative schools. Top-ranked high schools include Dupont Manual Magnet High School, Louisville Male High School, and Ballard High School. Louisville is also home to several private/parochial high schools.
Colleges and Universities
Louisville is home to several universities including the University of Louisville, Bellarmine University, Spalding University, and Simmons College of Kentucky. Having multiple higher education institutions boosts the city’s culture and job market.
Overall, JCPS provides extensive educational options for families but faces challenges similar to other large urban districts. Louisville’s strong higher education presence also stands out as an asset.
Crime Rates in Louisville
Crime levels are a prime quality of life factor for those relocating to a new city. Below are key statistics about Louisville’s crime rate:
Violent Crime Rate
Based on FBI data, Louisville has a violent crime rate of 1,138 incidents per 100,000 residents. This is significantly higher than the U.S. average of 379 per 100,000. However, it is similar to other major Midwest cities like Indianapolis, Cleveland, and Cincinnati.
Property Crime Rate
Louisville has a property crime rate of 3,756 incidents per 100,000 people, also above the U.S. benchmark of 2,200. As with violent crime, Louisville’s property crime levels are comparable to regional peers.
Trends
Both violent and property crime rates have fallen over the past decade after previous increases. Crime remains a key issue, but proactive policing initiatives and investments in crime prevention are having a positive impact.
Safest Neighborhoods
The safest neighborhoods in Louisville are generally suburban communities on the city’s outskirts. St. Matthews, Middletown, Jeffersontown, Lyndon, and Hurstbourne are considered the safest areas.
While crime rates are higher than the national average, this is unfortunately common for most major cities. Crime does not appear to be significantly worse in Louisville compared to similar Midwest counterparts.
Things to Do in Louisville
A city’s entertainment, recreation, and cultural offerings make a big difference in quality of life. Louisville receives high marks for its many attractions and activities.
Sports and Outdoors
Sports fans enjoy Louisville’s professional teams including the MLB’s Louisville Bats, USL soccer club Louisville City FC, and pro basketball’s Louisville Eagles. The Kentucky Derby and Churchill Downs attract visitors from around the world. Outdoor enthusiasts have over 120 public parks and 100 miles of trails to explore in Louisville’s park system. The Louisville Loop is an ambitious project to encircle the city with a 100+ mile multi-use trail. The Ohio River provides boating, kayaking, fishing, and more. Nearby waterways include the Salt and Beargrass Creeks.
Arts and Culture
Louisville has a thriving arts and music scene. The Kentucky Center for the Performing Arts houses the Louisville Orchestra, Louisville Ballet, Broadway shows, and more. Other venues feature an eclectic mix of concerts, comedy shows, and readings. Louisville’s museum campus downtown includes the Muhammad Ali Center, Frazier History Museum, Kentucky Science Center, and Louisville Slugger Museum. The Big Four Bridge is a pedestrian/cycling bridge converted into a park over the Ohio River. Louisville’s bar and restaurant scene delivers dynamic local flavors. Annual festivals include the St. James Court Art Show, Forecastle Music Festival, and the Festival of Laughs Comedy Festival.
Attractions
Popular attractions include the Louisville Zoo, Louisville Mega Cavern, Kentucky Kingdom amusement park, Louisville Science Center, Churchill Downs racetrack, the Belle of Louisville riverboat, Locust Grove historic estate, and the Evan Williams Bourbon Experience. Louisville’s urban bourbon trail highlights its signature spirit. Family-friendly options like the Louisville Zoo and Kentucky Science Center make the city ideal for raising kids.
Louisville offers an impressive selection of attractions, recreation, dining, and nightlife, rivaling much larger cities. The city strikes a nice balance between Southern charm and urban energy.
Transportation in Louisville
A city’s transportation system allows residents to access jobs, amenities, and services. Here is how Louisville stacks up in terms of commute times, public transit, walkability, airports, and road infrastructure:
Average Commute Time
Louisville residents experience an average commute time of 23.4 minutes. This is slightly under the U.S. average commute of 27.5 minutes, making getting around relatively efficient versus peer cities. Traffic congestion continues to increase, however, as growth expands outward.
Public Transit
Public buses in Louisville are run by the Transit Authority of River City (TARC). The bus system covers over 900 square miles in the metro but offers fairly limited routes and schedules outside of downtown. Daily light rail service connects downtown to southern suburbs. Overall, public transportation lags behind other major cities and using a car is preferable for most commutes.
Walkability
Louisville is a very car-dependent city, ranking 163rd out of 276 metro areas in walkability. Some central neighborhoods like NuLu and Butchertown are highly walkable, but most suburbs require driving to get around. The city is working to improve bike/pedestrian infrastructure but still favors automobiles in design.
Airports
Louisville International Airport (SDF) offers nonstop flights to over 35 domestic airports on major carriers plus freight and cargo service. As a mid-sized airport, SDF is easy to navigate with fewer delays versus busy hubs like Chicago or Atlanta.
Roads
Louisville’s road network includes several major Interstates (I-64, I-65, I-71) and U.S. highways. Traffic congestion is increasing, especially during rush hour I-65 and the Gene Snyder freeway. But compared to similar cities, congestion is less of an issue. Road conditions and maintenance are acceptable.
Overall, transportation options are average in Louisville. A personal vehicle will be necessary for most residents. The airport is efficient given the smaller metro size. Road infrastructure keeps traffic relatively modest compared to other large cities.
Demographics in Louisville
Louisville has the following key demographic characteristics:
Population
– Louisville population: 633,045
Age Distribution
– Median age: 39.4
– Under 18: 20%
– 18 to 34: 25%
– 35 to 54: 26%
– Over 55: 29%
Household Income
– Median household income: $55,000
– Households earning over $100k: 24%
Education
– High school diploma or higher: 88%
– Bachelor’s degree or higher: 34%
Race and Ethnicity
– White: 70%
– Black or African American: 22%
– Hispanic or Latino: 6%
– Asian: 3%
– Other race: 4%
Louisville’s population is growing but still mid-sized for a metro area. The population skews slightly older and is mostly white with a large black minority population. Income and education levels are on par with national averages. Overall, Louisville has become more diverse as it continues to grow.
Pros and Cons of Living in Louisville
Based on the factors discussed, here is a summary of the major advantages and disadvantages of living in Louisville:
Pros
– Low cost of living and affordable housing
– Vibrant job market with major employers
– Diverse entertainment and cultural options
– Easy airport access
– Southern charm and hospitality
– Decent public education options
– Sports including University of Louisville and the Kentucky Derby
– Mild four seasons climate
Cons
– Crime rates above the national average
– Public transportation lacking compared to other metros
– Lower wages relative to cost of living
– Urban sprawl leading to traffic increases
– Pollen and humidity levels can be high at times
– Some pollution along the Ohio River
Overall, the pros appear to outweigh the cons for most prospective residents. Louisville offers better affordability and job opportunities compared to many other major city contenders. The downsides are issues that affect many mid-sized cities as they grow quickly.
Conclusion
In summary, Louisville provides an excellent overall quality of life compared to similar sized Midwest cities. The local economy is thriving with a diverse mix of job opportunities and business growth. Housing remains relatively affordable especially compared to coastal cities. Education options are decent including public schools and multiple universities. While crime is a concern, rates are on par for the region. Louisville offers a full slate of amenities from sports to museums to nightlife. Transportation is average but manageable with a car. The city has a distinct culture with charm and hospitality. For those seeking an affordable lifestyle without sacrificing urban energy and amenities, Louisville is a compelling choice to call home. The city faces challenges with sprawl, transit, and crime as all growing metros do. But its assets including cost of living, job market strength, and entertainment clearly outweigh the negatives. Louisville continues to invest in the core city while expanding suburbs to create a well-rounded metro. For both families and young professionals, Louisville rates highly as a place to live, work and enjoy an excellent quality of life.