Market Watch: Louisville, KY

While many people know Louisville as the home to the Kentucky Derby, and maybe even more that it is the hometown of the lovely Jennifer Lawrence, many do not know that Louisville is running the ranks when it comes to best places to flip homes.

With Money Magazine’s ranking the city #2 on best places to live, you can be sure that there are plenty of families ready to move into your rehabbed house. According to Money, Louisville is a “great place to raise a family, with well-regarded schools and a safe community. … Locals say the work-life balance in Louisville is hard to beat. Come summer, residents can look forward to weekly events featuring food trucks from local restaurants, beer gardens, live music and much more.”

Last year AOL Real Estate listed Louisville as #10 on their “healthiest market” in real estate. An uptick in manufacturing jobs is behind the bright real estate outlook in Louisville. In the first 10 months of 2012, the city saw a 2.7 percent rate of job growth, according to 24/7 Wall St.

Louisville also saw mild losses during the housing crisis: home prices only dropped 4.7 percent from their pre-recession peak, putting the city at a much greater advantage over the rest of the country. New construction, however, remains slow.

Additionally, Louisville and its surrounding county of Jefferson made Forbe’s “Top 40 Places to Invest in 2014″ this month. Our team has flipped many homes in the Louisville area so we can see why it is being listed as one of the lesser known better places to invest in real estate.

Here’s a look at some of the Derby City’s stats:

Pop.: 1,258,577
Average Home Price: $167,128
Equilibrium Home Price: $201,248
Difference: -17%
3-year Growth Forecast: 15%

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Erik Hitzelberger has been Real Estate Investor since 2007. While learning the ropes in the market down-cycle, he now teaches others how to use his systems and leverage other people’s expertise to achieve their own goals.

Erik Hitzelberger – who has written 194 posts on Part Time REI.

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