Central Business District median real estate price is $345,349, which is more expensive than 78.4% of the neighborhoods in Kentucky and 46.8% of the neighborhoods in the U.S.
The average rental price in Central Business District is currently $1,863, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.2% of the neighborhoods in Kentucky.
Central Business District is a suburban neighborhood (based on population density) located in Louisville, Kentucky.
Central Business District real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and small apartment buildings. Most of the residential real estate is renter occupied. Many of the residences in the Central Business District neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1940 and 1969.
Vacant apartments or homes are a major fact of life in Central Business District. The current real estate vacancy rate here is 24.1%. This is higher than the rate of vacancies in 91.1% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Louisville, the Central Business District neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
An interesting characteristic about the Central Business District neighborhood is that there are more incarcerated people living here than 99.4% of neighborhoods in the U.S. The United States has the highest rate of incarceration in the world, currently with 1 out of every 100 adults in the country are incarcerated as a punishment for crimes committed. The extremely high incarceration rate of this neighborhood could mean that a prison, juvenile detention facility or other correctional facility occupies a large proportion of the neighborhood, or contains a large portion of the neighborhood's population.
In addition, of note, 65.0% of the children in this area live in poverty; an extraordinarily high percentage compared to other neighborhoods in the nation. In a nation where approximately one in four children grows up in poverty, this neighborhood stands out for the depth of the problem manifested here.
In the Central Business District neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 33.6% of residents here. This is a higher proportion of walking commuters than we found in 99.3% of American neighborhoods. Get ready to put on your walking shoes if you move here!
The real estate in the Central Business District neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 93.9% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 98.8% of American neighborhoods.
In addition, the Central Business District neighborhood is very unique in that it has one of the highest proportions of one, two, or no bedroom real estate of any neighborhood in America. Most neighborhoods have a mixture of home or apartment sizes from small to large, but here the concentration of studios and other small living spaces is at near-record heights. With 94.1% of the real estate here of this small size, this most assuredly is a notable feature that makes this neighborhood unique, along with just a handful of other neighborhoods in the U.S. that share this characteristic.
Furthermore, renter-occupied real estate is dominant in the Central Business District neighborhood. The percentage of rental real estate here, according to exclusive NeighborhoodScout analysis, is 93.0%, which is higher than 97.6% of the neighborhoods in America. If you were to buy and live in the property you bought here, you would be almost alone in doing so.
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the Central Business District neighborhood has a highly unusual pattern of car ownership. 26.3% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 96.6% of U.S. neighborhoods.
The freedom of moving to new places versus the comfort of home. How much and how often people move not only can create diverse and worldly neighborhoods, but simultaneously it can produce a loss of intimacy with one's surroundings and a lack of connectedness to one's neighbors. NeighborhoodScout's exclusive research has identified this neighborhood as unique with regard to the transience of its populace. In the Central Business District neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 98.6% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.
Significantly, 3.6% of its residents five years old and above primarily speak Tagalog, which is the first language of the Philippine region, at home. While this may seem like a small percentage, it is higher than 96.7% of the neighborhoods in America.
There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.
The neighbors in the Central Business District neighborhood in Louisville are low income, making it among the lowest income neighborhoods in America. NeighborhoodScout's research shows that this neighborhood has an income lower than 88.4% of U.S. neighborhoods. With 65.0% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 97.8% of U.S. neighborhoods.
What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.
In the Central Business District neighborhood, 55.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 17.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (13.4%), and 13.2% in clerical, assistant, and tech support occupations.
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Central Business District neighborhood is English, spoken by 88.9% of households. Other important languages spoken here include Spanish and Tagalog (the first language of the Philippine region).
Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.
In the Central Business District neighborhood in Louisville, KY, residents most commonly identify their ethnicity or ancestry as German (12.0%). There are also a number of people of English ancestry (6.0%), and residents who report Irish roots (5.2%), and some of the residents are also of Sub-Saharan African ancestry (4.6%), along with some Asian ancestry residents (4.3%), among others.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Central Business District neighborhood spend under 15 minutes commuting one-way to work (51.8% of working residents), one of the shortest commutes across America.
Here most residents (33.6%) hop out the door and walk to work to get to work. In addition, quite a number also drive alone in a private automobile to get to work (32.1%) and 10.3% of residents also carpool with coworkers, friends, or neighbors for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.