Living in Kentucky: Pros and Cons of Moving to Louisville - Alltrade
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Pros and Cons of Living in Louisville KY

Louisville, KY is ideal for those who want to experience Southern comfort and beautiful nature. Known as “The Gateway to the South,” Louisville is one of the oldest cities west of the Appalachian Mountains.

Louisville is rich with American culture and history. Its features include the Kentucky Derby, as well as beautiful Victorian homes. There are many things to do and experience in Louisville. The city is home to the Slugger Museum and Factory and offers various excellent restaurants and bourbon distilleries. Louisville residents can enjoy the benefits of a robust economy, low-cost living, and plenty of work opportunities.  

However, as with any other city, there are pros & cons of living in Louisville KY. We here at Alltrade Property Management will cover these pros & cons below.

Reasons to Live in Louisville KY

Steady Economy and Numerous Jobs

Louisville has a fairly strong economy in comparison to other small cities. There is an upward trend in its economy, with a job growth rate of 1.5%.

Since the city’s founding, its primary industries have been shipping and cargo. Louisville’s other industries include education, health care, medical sciences, tech, and product manufacturing.

Some of the city’s big employers include Ford Motor, United Parcel Service, GE Appliances, Norton Healthcare, and Humana Inc. Other major employers include KentuckyOne Health, Anthem Healthcare, KU Energy, Kindred Healthcare, LG & E, and Yum! Brand.  

Those looking for jobs in Louisville can consider mailing and shipping, manufacturing, government, education, and healthcare.  

Affordable Housing

Interested in moving to Louisville, KY? More than half of Louisville residents own their homes. As of 2019, the median price for a single-family home is $162,800, which is below the national average.  

In Louisville, the rental rate for a one-bedroom apartment is $972 a month, around $500 less than the national average.

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Prices of homes in Louisville have been increasing at the same rate as the national property market. There are affordable houses in areas like Camp Taylor, Southside, Edgewood, and Merriweather.

Beneficial Tax Code

If you’re asking yourself, “why should I live in Kentucky?” here’s a good answer:

Kentucky is considered one of the top 10 states to live in the country in terms of tax rates. Kentucky has a 5% income tax rate, which is significantly below the national average. Louisville has a low combined sales rate of 6%, too.

Another benefit to living in Kentucky: the tax collection per person for state and local individual income tax averages out to around $1,300. When it comes to property tax, Louisville’s rate is just below one percent.

Lower Cost of Living

Louisville residents can enjoy a lower cost of living compared to most cities in the US. This is impressive given how many interesting things there are to do in the city. Louisville’s cost of living index score falls below the national average.

The cost of living in Kentucky, including prices for groceries, utilities, housing, health costs and more, is lower than in other parts of the country. It’s the same for miscellaneous expenses, such as dining out and repairs.

Four Distinct Seasons

Even if Louisville is located in a humid climate zone, it isn’t always warm in the city. Residents get to enjoy four distinct seasons each year, which differs from more southern states where the temperature rarely drops, and northern states with long, frigid winters.

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The hottest month is July, with average temperatures reaching 80 degrees. The most comfortable months are May, September, and October, during which temperatures are mild.

Cons of Living in Louisville

Occasional Flooding and Tornadoes

The risks of natural disasters in Louisville are higher than average. Flooding is a serious threat due to Louisville’s aging 29-mile system of wall pumps and levees. That’s why you need to check flood maps before purchasing a home in Louisville.

Tornadoes are the most dangerous natural disasters in the city. Tornadoes are more common in spring and summer, but they can occur in any month of the year. Many resources, such as the Jefferson Country disaster preparedness guide, are available to prepare locals for disasters.

Slow Transit Times

Louisville scores poorly when it comes to public transit. The city’s public transportation system is inefficient, slow, and frustrating.

Because a large majority of residents ride alone in their vehicles, traffic is a significant problem. Traffic is worse on the Dixie Highway, Parkway, Hurstbourne, and Shelbyville Road. Dixie Highway is known as one of the deadliest roads in the area and has high rates of car crashes.

Relatively High Crime Rate

Louisville has crime rates that are higher than elsewhere in Kentucky. The crime rate in Louisville is about 74% higher than the national average.

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Property owners in Louisville have to be wary of property damage and to ensure they’re familiar with state laws regarding squatters.

However, crime rates have been on a downward trend recently. Louisville property owners are hoping this trend continues into the future, for the sake of their safety and property values.

Poor Public Education 

Jefferson County Public Schools (JCPS) is the largest school district in the state of Kentucky. It serves more than 100 000 students across the city’s 150 schools.

Unfortunately, the state’s public education is underfunded, which has a negative effect on Louisville’s schools. About 40% of the schools in the JCPC system are underperforming. It’s important for Louisville parents to research the performance of individual schools or to consider enrolling their kids in a private school.

Lower Income Compared to the National Average

Even though the city’s cost of living is low, residents receive a lower income than in other parts of the US. Louisville’s median income is $57,278, which is $3,000 less than the national average. However, the average income in Louisville is considerably higher than Kentucky’s median income of $48,375.

The Bottom Line

Moving to a new city is a significant decision that requires careful research and planning. Like most American cities, Louisville has a mix of perks and pitfalls that will vary for each individual, based on personal preferences.

You can learn more about the distinct areas of Louisville by reading this guide to its neighborhoods. Louisville is a city that many people are proud to call home. After weighing all pros and cons, you can decide if Louisville is the right city for you. 

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