Louisville’s multifamily real estate market is characterized by an inventory of 88,893 units completed, 5,373 units under construction, and 6,562 units planned. The recent surge of 2,251 units added over the past 12 months reflects Louisville’s development momentum, and its distinction as one of the top metros for economic development highlights the general growth of the city.
Complementing the market activity are Louisville’s manufacturing and healthcare industries. On top of being named a top city for manufacturing by Forbes, Louisville has recently been the destination of many corporate expansions and relocations, the biggest and most recent of these being UPS’s announcement in late 2022 to construct a 1 million-square-foot facility ($155 million / 315 jobs). UPS, already Louisville’s biggest employer, has nearly 400 flights arriving and departing from UPS Worldport daily. The healthcare industry in Louisville, which has nearly a dozen headquarters operations and 31,000 employees, worked with UPS to lead the world in Covid-19 vaccine distribution during the pandemic. In fact, there is 3 million square feet of medically designated space at UPS Worldport. Furthermore, Louisville is home to 4 out of 10 of Kentucky’s largest hospitals by bed count. The University of Louisville, a Research 1 University and home to the Trager Institute, adds to this pool of healthcare workers.