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Market Report

Louisville Multifamily Market

2Q 2023

Suburban Rentals Set for Favorable Year As
Budget-Conscious Renter Pool Grows


New units outpace renter demand. Deliveries in Louisville will surpass the 2,000-unit mark for the sixth time in the last seven years. Despite supply additions placing upward pressure on vacancy in 2023, the metro will still record a 16th consecutive year of positive net absorption, allowing total occupied stock to reach a new record high. Sustained demand for rentals is likely to carry on long-term as Louisville is expected to log consistent population growth across the next five years. However, some employment sectors may face near-term headwinds caused by a challenged hiring environment amid broad macroeconomic uncertainty entering the year. Inflationary pressures could dampen renter demand for high-tier units as consumers shift focus to more budget-friendly apartment options. 

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