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Market Report

Louisville Multifamily Market Report

3Q 2023

New Construction Presents Some Near-Term Headwinds,
Lessened by Long-Run Prospects

The metro is positioned for stable growth. While Louisville does not expect a large influx of in-migration, the metro will welcome nearly 6,000 new residents on net in the next five years, more than the proceeding half-decade. This slow but steady gain of residents will be a long-term supplement to multifamily demand. Net absorption has remained consistently positive for the last 15 years, a trend that will continue this year. Growing demand can be seen as total occupied stock reaches a new record high in 2023. Continued corporate investment will also backstop demand, such as Congo LLC’s expansion announced in April. The employee service company alone will undertake an $8.25 million expansion to its Louisville headquarters, creating 500 high-wage jobs over the next 10 years. 
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