Louisville, Tennessee Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Louisville, Tennessee rental market.
Louisville, Tennessee
Average Apartment Rent
$921
Y-o-Y Change in Average
Apartment Rent
23%
As of November 2024
Compared to a year ago, Louisville, Tennessee apartments have recorded a 23% rent increase.
Louisville, Tennessee Average apartment rent trend
Louisville, Tennessee Average Apartment Rent
Louisville, Tennessee Apartment rent ranges
At 30.55%, apartments priced $500 - $700 represent the bulk of Louisville, Tennessee rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 9.84%.
Louisville, Tennessee Housing tenure**
Renters take up 12% of Louisville, Tennessee real estate, occupying a total of 227 units, while homeowners live in 1,662 properties.
Median number of rooms of renter-occupied housing units**
5.8
Renter median household income**
$31,507
Average household size of renter-occupied housing units**
2.33
Louisville, Tennessee Renter-occupied housing units by no. of bedrooms**
There are 91 rentals in Louisville, Tennessee with 2 beds making up the highest share of the market, at 40%. Units with 4 beds, on the other hand, hold the lowest percentage (9%), amounting to 21 units. Overall, the median number of rooms in Louisville, Tennessee homes for rent is 5.8.
Louisville, Tennessee Renter-occupied units by age of householder**
Most condos for rent in Louisville, Tennessee are occupied by residents in the 25 - 34 years age group (39%), followed by those in the 45 - 54 years age group (15%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 2%.
Louisville, Tennessee Renter-occupied housing units by family type**
Louisville, Tennessee Renter-occupied housing units by the presence of own children**
A total of 155 apartments for rent in Louisville, Tennessee, or 68% of all rentals are family households. Additionally, 41% of rental homes include children under the age of 18 – that’s 92 units. All in all, the median size of a renter-occupied household in Louisville, Tennessee is 2.33.
Louisville, Tennessee Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 11% of the rental market. In contrast, residents with less than a high school degree reside in 19% of the homes for rent in Louisville, Tennessee.
Louisville, Tennessee Renter-occupied units by year structure built**
The highest share of Louisville, Tennessee apartment rentals, namely 20% or 46 units, were Built 1980 - 1989, followed by those Built 2000 - 2009 (19%, 43 units), and the ones Built 1970 - 1979 (16%, 37 units).
Louisville, Tennessee Renter-occupied units by year householder moved in**
Median year renter moved into unit 2014
Most Louisville, Tennessee renters (45%) moved in 2010 to 2017, while only 4% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Louisville, Tennessee condos for rent is 2014.
Louisville, Tennessee Renter-occupied housing units by vehicles available**
When it comes to transportation options, 57% of Louisville, Tennessee renters have 1 vehicle available per household, 31% of them have 2 vehicles available, and 11% have 3 or more vehicles available.
Louisville, Tennessee Means of transportation to work of householders living in renter-occupied housing units**
Louisville, Tennessee Geographical mobility in the past year for householders living in renter-occupied housing units**
Louisville, Tennessee Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Louisville, Tennessee apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
