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 2,623 people, 794 houses or apartments, and a median cost of homes of $183,712, house prices in Louisa are solidly below the national average.
Single-family detached homes are the single most common housing type in Louisa, accounting for 65.60% of the city's housing units. Other types of housing that are prevalent in Louisa include large apartment complexes or high rise apartments ( 18.08%), duplexes, homes converted to apartments or other small apartment buildings ( 8.94%), and a few mobile homes or trailers ( 7.39%).
The most prevalent building size and type in Louisa are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 60.45% owning and 39.55% renting.
There is a lot of housing in Louisa 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 Louisa built between 2000 and later ( 22.74%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.02%). There's also some housing in Louisa built before 1939 ( 15.06%).
Vacant housing appears to be an issue in Louisa. Fully 22.84% of the housing stock is classified as vacant. Left unchecked, vacant Louisa homes and apartments can be a drag on the real estate market, holding Louisa 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.
Real estate appreciation rates in Louisa's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.39% during the period.
NeighborhoodScout's data show that during the latest twelve months, Louisa's appreciation rate, at 7.54%, has been at or slightly above the national average. In the latest quarter, Louisa's appreciation rate has been 1.84%, which annualizes to a rate of 7.57%.
Relative to Kentucky, our data show that Louisa's latest annual appreciation rate is higher than 60% of the other cities and towns in Kentucky.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Louisa differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Louisa - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Louisa real estate investment or home purchase decisions.
$183,712
for Kentucky
for nation
794
$1,153 / per month