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Real Estate Prices & Overview

University of Louisville median real estate price is $602,951, which is more expensive than 97.6% of the neighborhoods in Kentucky and 77.5% of the neighborhoods in the U.S.

The average rental price in University of Louisville is currently $1,488, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 40.5% of Kentucky neighborhoods.

University of Louisville is an urban neighborhood (based on population density) located in Louisville, Kentucky.

University of Louisville real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the University of Louisville neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1970 and 1999.

University of Louisville has a 10.2% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 62.7% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

People

An extraordinary 71.2% of the residents of the University of Louisville neighborhood are currently enrolled in college. This is such a large part of life in this neighborhood that the neighborhood changes a great deal with the change of semesters and is far quieter during the summer when many students are away.

In addition, the University of Louisville neighborhood stands out for having an average per capita income lower than 97.2% of the neighborhoods in the United States. The University of Louisville neighborhood also has a greater percentage of children living in poverty (81.3%) than found in 99.4% of all U.S. neighborhoods. Children living in poverty is one of the challenges facing America, and the world, and in this neighborhood in particular, the problem can be considered acute.

Also, the University of Louisville neighborhood stands out within Kentucky for its college student friendly environment. NeighborhoodScout's analysis reveals that this neighborhood is home to a number of college students, is relatively walkable, and above average in safety. In combination, this makes it stand out for a good place for college students to consider. Because a number of college students live here, this neighborhood may be close to a college campus and offer certain amenities nearby geared towards the student body. While it's not an environment for everyone, ambitious scholars can enjoy seasonal excitement between semesters and school breaks, and parents can rest easy knowing that the area has an above average safety rating. For each of these reasons, the neighborhood is rated among the top 5.1% of college-friendly places to live in KY.

Modes of Transportation

In the University of Louisville neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 26.3% of residents here. This is a higher proportion of walking commuters than we found in 98.8% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Real Estate

96.4% of the real estate in the University of Louisville neighborhood is occupied by renters, which is nearly the highest rate of renter occupancy of any neighborhood in America.

Occupations

From major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the University of Louisville neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 97.0% of all American neighborhoods.

Furthermore, with 1.5% of employed workers living in the University of Louisville neighborhood active in the military, this neighborhood has the distinction of having a higher proportion of people in the military than 95.1% of American neighborhoods. This is a major shaper of the neighborhood's culture and character.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the University of Louisville neighborhood. In the University of Louisville neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.0% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the University of Louisville neighborhood in Louisville are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 97.2% of U.S. neighborhoods. With 81.3% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 99.4% of U.S. neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the University of Louisville neighborhood, 40.8% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is clerical, assistant, and tech support occupations, with 22.6% of the residents employed. Other residents here are employed in executive, management, and professional occupations (22.1%), and 14.4% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the University of Louisville neighborhood is English, spoken by 92.4% of households. Other important languages spoken here include Spanish and Polish.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the University of Louisville neighborhood in Louisville, KY, residents most commonly identify their ethnicity or ancestry as German (20.7%). There are also a number of people of Irish ancestry (16.3%), and residents who report English roots (12.3%), and some of the residents are also of Polish ancestry (4.4%), along with some Italian ancestry residents (4.2%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in University of Louisville neighborhood spend under 15 minutes commuting one-way to work (46.6% of working residents), one of the shortest commutes across America.

Here most residents (47.7%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (26.3%) and 10.2% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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