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Market Report

Louisville Multifamily Investment Forecast

2022 Outlook

Prominent Air Freight Sector Brings Renter Demand;
Suburban Growth Provides New Opportunities

Targeted job growth benefits Class B/C offerings. Employment gains as a result of Louisville's robust shipping and logistics industry provide strong demand for Class B/C rental housing across the metro, but especially in the southeastern submarkets due to the location of the metro's largest employers. UPS has made Louisville's airport one of the busiest cargo airports in the nation, leading the trade, transportation and utilities sector to represent nearly one-fourth of all employment in the metro. Supply-chain bottlenecks surrounding the nation's ports will drive producers to utilize air shipments more frequently as the cost of sea transport increases. This will directly benefit Louisville as the need for workers in the metro climbs, causing the demand for lower-tier units to elevate. Meanwhile, in the Class A sector, demand comes primarily from eastern portions of the metro, driven by the location of high-income employment opportunities. These areas, however, may be impacted by elevated single-family housing construction siphoning rental demand in Northern Kentucky.
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