Home Affordability in Louisville, KY
The median home price in Louisville is $235,000 with a median household income of $52,237. Housing is moderately affordable relative to local incomes.
Median Home Price
$235,000
Median Income
$52,237
Price-to-Income Ratio
4.5x
Est. Affordable Home
$203,000
Property Tax Rate
0.83%
Annual Property Tax
$1,951
Sales Tax Rate
6.00%
Cost of Living Index
89
Buying a Home in Louisville
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $52,237 in Louisville can afford a monthly housing payment of approximately $1,219. This translates to a home price of roughly $203,000, which is below the median home price of $235,000 — many households may need a higher income, larger down payment, or should consider more affordable neighborhoods.
Property taxes on a median-priced home in Louisville would be approximately $1,951 per year ($163/month) at the effective rate of 0.83%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $7,050 | $227,950 | Yes |
| 5% | $11,750 | $223,250 | Yes |
| 10% | $23,500 | $211,500 | Yes |
| 20% | $47,000 | $188,000 | No |
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