Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 1,123, 465 total housing units (homes and apartments), and a median house value of $154,061, house prices in Louisville are solidly below the national average.
Single-family detached homes are the single most common housing type in Louisville, accounting for 69.27% of the village's housing units. Other types of housing that are prevalent in Louisville include mobile homes or trailers ( 14.71%), large apartment complexes or high rise apartments ( 9.87%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.77%).
The most prevalent building size and type in Louisville are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 57.79% owning and 42.21% renting.
There is a lot of housing in Louisville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Louisville built between 1940-1969 ( 32.22%). A lesser amount of the housing stock also hails from before 1939 ( 16.57%). There's also some housing in Louisville built between 2000 and later ( 5.77%).
Vacant housing appears to be an issue in Louisville. Fully 13.41% of the housing stock is classified as vacant. Left unchecked, vacant Louisville homes and apartments can be a drag on the real estate market, holding Louisville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Louisville's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Louisville during the period has been just 5.59%, which is lower than 70% of US communities.
Appreciation rates are so strong in Louisville that despite a nationwide downturn in the housing market, Louisville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Louisville appreciation rates continue to be some of the highest in America, at 8.55%, which is higher than appreciation rates in 76.23% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Louisville. Louisville appreciation rates in the latest quarter were at 1.42%, which equates to an annual appreciation rate of 5.82%.
Relative to Illinois, our data show that Louisville's latest annual appreciation rate is higher than 60% of the other cities and towns in Illinois.
$154,061
for Illinois
for nation
465
$988 / per month