Real Estate Investing in Louisville, Kentucky (40202)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 40202 (Louisville, KY)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 23.4% of homes vacant — above national norms.
- Flat appreciation: Values have barely moved over 5 years (1.4% CAGR).
- Lower household income: $26,643 median — tenant affordability is tighter.
What’s happening in Louisville, KY (40202)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 40202 Louisville
ZIP 40202 inside Jefferson County looks affordable on the surface — median value of $335K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 40202 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
The gap between 40202 and stronger Louisville ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Resident income in 40202 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
Experienced landlords with local relationships tend to find 40202 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Louisville:
Property Strategy for 40202
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $365,528 | $1,390 | 2.7% | -0.2% | $182,764 |
| 3BR | $391,133 | $1,780 | 3.3% | — | $130,378 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 40202 Compare?
| Metric | 40202 | Louisville | Kentucky |
|---|---|---|---|
| Home Value | $334,507 | $240,458 | $225,788 |
| 5-Year CAGR | 1.4% | 5.2% | 6.9% |
| Avg Rent | $1,203 | $1,353 | - |
| Cap Rate | 2.8% | 4.7% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 40202 (Louisville, KY). Anonymous, moderated, never written by AI.
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Property managers serving Jefferson County
Manage rentals here? List your business →LREI Property Management LLC provides property management services in Louisville. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $334,507 |
| Monthly Rent | $1,203 |
| Price-to-Rent | 23.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 4.2% |
📈 Home Appreciation
| 1-Year | +3.1% ▲ |
| 3-Year CAGR | +1.7% ▲ |
| 5-Year CAGR | +1.4% ▲ |
| 10-Year CAGR | +0.9% ▲ |
🏠 Rent Trends
| 1-Year | -13.3% ▼ |
| 3-Year CAGR | -3.3% ▼ |
| 5-Year CAGR | -0.6% ▼ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 40202
Population: 7,109
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 40202
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Breckinridge-Franklin Elementary
Shelby Academy
Byck Elementary
Portland Elementary
Young Elementary
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 13,695 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Should investors worry about vacancy in Louisville, KY?
Louisville, KY carries elevated vacancy risk. Expect even-keeled absorption at market rents of $1,203/mo.
What is the median home value in Louisville, KY?
Louisville, KY median home values land near $335K. That is reasonable territory for investors looking at $1,203/mo-per-month rentals.
What are rental rates like in Louisville, KY?
Louisville, KY rentals go for roughly $1,203/mo a month. That puts gross yield in solid territory relative to $335K acquisition costs.
Does a duplex house hack pencil in Louisville, KY?
House hacking in Louisville, KY is reasonable to execute. Prices around $335K and rents of $1,203/mo solid owner-occupant economics.
Is Louisville, KY a good place for real estate investing?
With a 2.0/5 investability score, Louisville, KY ranks as a solid market for rental property investors. Median prices of $335K and rents of $1,203/mo drive the underlying numbers.
You know 40202 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 40202 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 40202 ranks in Louisville/Jefferson County, KY-IN
Every ZIP in this metro, ranked. Free.
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