Mortgage Calculator & Closing Costs: Louisville, KY
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Louisville, Kentucky.
Median Home Price
$245K
Population
633K
Avg Monthly Rent
$1,150
Property Tax Rate
0.83% *
* Property tax shown is the Kentucky state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Louisville.
Louisville vs Kentucky Median
The median home price in Louisville is $245,000, which is 17% above the Kentucky state median of $210,000.
Mortgage Calculator — Louisville, KY
Pre-filled with Louisville median home price and Kentucky tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $245K home using Kentucky's 0.83% tax rate and $2,400/yr insurance.
5% Down
$1,976/mo
Down: $12,250
Loan: $233K
P&I: $1,471
Tax: $169
Insurance: $200
PMI: $136
10% Down
$1,892/mo
Down: $24,500
Loan: $221K
P&I: $1,394
Tax: $169
Insurance: $200
PMI: $129
20% Down (No PMI)
$1,608/mo
Down: $49,000
Loan: $196K
P&I: $1,239
Tax: $169
Insurance: $200
Income needed (28% rule): $69K/year with 20% down, $81K/year with 10% down.
Rent vs Buy in Louisville
Rent
$1,150/mo
vs
Buy (10% down)
$1,892/mo
Price-to-rent ratio: 17.8 — A ratio between 15-20 means the rent vs buy decision in Louisville depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Louisville is $245,000, 17% above the Kentucky state median of $210,000. With a population of 633,045, Louisville is a major metro area where home prices reflect strong demand and local economic factors.
Property taxes in Kentucky average 0.83% annually. This moderate property tax rate means a $245,000 home in Louisville would carry roughly $169/month in property taxes. Homeowners insurance in Kentucky runs approximately $2,400 per year. This is within the normal range nationally.
Average rent in Louisville is $1,150/month. The price-to-rent ratio in Louisville is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Louisville offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Kentucky's KHC Regular DAP program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Louisville.