Are you planning to invest in the Louisville real estate market?
The quality of life, rental market demand, and local economy contribute to the investor’s appeal of Louisville, Kentucky. The recent years have seen an energized growth in the interest towards real estate in the Bourbon City.
However, as with any other investment, you need to consider the area you invest in. If you plan to invest in Kentucky, especially Louisville, you will need to consider the neighborhoods. Choosing between neighborhoods serves a dual purpose: you can both meet the needs of your selected renter demographics or you can find new target groups by picking a certain area to purchase a property in.
In this article, we are going to list the best areas to invest in Louisville, Kentucky. You’ll learn about the various neighborhoods that have the strongest potential for solid real estate investments.
The slogan for Norton Commons is “more life per square foot”. This is a 600-acre mixed-use neighborhood that has parks, pools, and a lively town center. The three educational institutions are Vanguard Academy, Norton Commons Elementary, and St. Mary Academy.
This Louisville, KY community has plenty of restaurants and retail stores. Its residents can enjoy a lot of green space. In fact, around ¼ of the Norton Commons ground is devoted to recreational trails, parks, civic amenities, squares, and plazas.
Glenview has a designation of the 6th-class city. The area features old estate homes and has the second-highest per capita income in Kentucky. This makes the 74th-highest in the States.
The Glenview neighborhood has shown fast growth over the years. Since its reputation has been stellar, some developers have tried to lure in more people to adjacent communities with names like Glenview Hills and Glenview Manor.
This is one of the hippest areas in Louisville. The historic neighborhood offers a stunning variety of dining spots and boutiques. The general character of Crescent Hill is a small-town charm steeped in history.
The home prices in this neighborhood are above average. But the long-term outlook of Crescent Hill looks great. While it’s already enjoying immense popularity, there’s no reason to believe that interest would fade in the coming years.
The neighborhood of Bonnycastle is a favorite among families with children. It’s a safe community with kid-friendly activities and quick access to Cherokee Park. Bonnycastle has superb local schools, including Bloom Elementary School and St. James Catholic School.
When it comes to making real estate investments in this area, you need to prepare for steeper prices. But the higher entry costs are balanced by the potential of this community. It’s great for anyone looking to invest in Craftsman and Tudor-style homes as well.
How about investing in true old charm? Old Louisville is one of the largest Victorian neighborhoods in the country. The stained-glass windows and sculptures in front of most homes whisper stories of the Victorian architecture golden age.
Many areas of this neighborhood have seen a strong increase in value over the recent years. At the same time, there are homes that need fixing, which go for under $200,000. Consider these properties if you want to expand your investment portfolio with a serious fixer-upper.
Hayfield Dundee is another neighborhood that looks attractive to families with children. The community features sought-after schools and a low crime rate. Some of the top schools include Hayfield Montessori School and Atherton High School.
The only downside of Hayfield Dundee is its relatively long distance from the downtown area. An average commute to the center takes up to 25 minutes. Still, that distance is balanced by the safe and quiet settings in the neighborhood.
The neighborhood of Portland has a diverse population. There are historic homes available in the area together with some newer developments. Some of Portland’s landmarks include Good Shepherd Church and the Montgomery Street School.
You can find many restaurants, parks, coffee shops, and bars in the neighborhood. Since most of the Portland residents rent their homes, you could find solid growth in its property investments.
This is an important part of the Louisville real estate market. The Highlands further consists of smaller neighborhoods, which means that you can enjoy a variety of options as a property investor.
The home values in the Highlands are expected to rise in the coming years. Most of the residents are renters, which means that you can pick a long-term rental strategy to grow your initial investment.
The urban neighborhood of Belknap is around 3 ½ miles east of Downtown Louisville. This community is in the heart of Highlands, a popular area in the city that is appealing to investors.
Belknap is near great restaurants and shopping opportunities. This community with an annual fall festival has homes that are quickly taken off the market. Investing in Belknap requires you to be quick and resourceful.
Louisville, Kentucky has numerous areas for high-potential real estate investments. As with any other investment decision, it pays to conduct as much research as possible. After finding a desirable property in the Louisville area, make sure to learn about its surroundings and community.
Some of the top areas for property investments in Louisville are Bonnycastle, Belknap, Portland, Old Louisville, and Norton Commons. Weigh the pros and cons of each neighborhood to find the most suitable for your needs. For more information, contact Alltrade Property Management today to find out how we can help you land the best Louisville investment properties!