Okolona, Louisville, KY—40229
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Okolona, Louisville, KY
As of Oct '25, the median home price in Okolona, Louisville, KY is $241,000, with a year-over-year change of 3.3%. This indicates that home prices in Okolona, Louisville, KY are increasing. According to Zillow, the 1-year price projection is 0.8%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $241,000 | 3.3% |
| Single Family | $243,000 | 3.0% |
| Condos | $214,000 | 3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $192,000 | 3.2% |
2 Bed | $210,000 | 1.9% |
3 Bed | $246,000 | 3.4% |
4 Bed | $321,000 | 2.9% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Okolona, Louisville, KY
As of July '25, Rentcast reports the average rent in Okolona, Louisville, KY is $1,840, with a year-over-year rent change of 7.0%. Per bedroom, the median rent as of July '25 in Okolona, Louisville, KY is 1-bedrooms: $1,160, 2-bedrooms: $1,290, 3-bedrooms: $1,880, 4-bedrooms: $2,290. The most common rental property sizes in Okolona, Louisville, KY are 2-bedroom and 3-bedroom, accounting for 45.2% and 24.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,840 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,190 | $1,160 |
| 2 Bed Rent | $1,300 | $1,290 |
| 3 Bed Rent | $1,890 | $1,880 |
| 4 Bed Rent | $2,460 | $2,290 |
% of Rental Stock
Property Listings — Okolona, Louisville, KY
As of Oct '25, Realtor.com reports that the median days on market for a home in Okolona, Louisville, KY is 36. This is a decrease of -4.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 31.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $294,000 | -8.0% |
Listing Count | 131 | -14.0% |
| Listings as % of Homes | 0.8% | -14.0% |
Days on Market | 36 | -4.0% |
Demographics — Okolona, Louisville, KY
As of the latest ACS Survey released in 2023, Okolona, Louisville, KY has a population of 40,000, which has increased by 2.9% over the past 5 years. Okolona, Louisville, KY is a moderately popular place for families, as children make up 23.4% of the population. The area has a poorly educated workforce, with 23.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 40,000 | 2.9% |
% Under 18 | 23.4% | -4.5% |
% Seniors | 13.0% | 8.3% |
% WFH | 10.1% | 260.7% |
% w/ College Degree | 23.9% | 70.7% |
As of the latest ACS Survey released in 2023, Okolona, Louisville, KY is a predominantly white area, with 70.6% of the population identifying as white. The white population has shrunk by 15.0% in the last 5 years. The second most common race or ethnicity in Okolona, Louisville, KY is black, making up 12.5% of the population. Foreign-born residents account for 9.2% of the population in Okolona, Louisville, KY, and this percentage has increased by 206.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 70.6% | -15.0% |
% Black | 12.5% | 38.9% |
% Hispanic | 11.8% | 280.6% |
% Asian | 1.3% | -27.8% |
% Foreign Born | 9.2% | 206.7% |
Mortgage and Risk — Okolona, Louisville, KY
According to HUD data as of 2023, there were 751 mortgage originations in Okolona, Louisville, KY, of which 72.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Okolona, Louisville, KY. Investor activity is low, as 2.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 751 |
% Conventional Loans | 72.0% |
% Government Loans | 28.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Okolona, Louisville, KY
As of 2024, the percent of homes in Okolona, Louisville, KY under the Section 8 program is 4.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Okolona, Louisville, KY, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 156 |
Total Units Section 8 | 156 |
% Rentals under Section 8 | 4.0% |
% Occupied Section 8 | 82.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $90 | $1,190 | $1,280 |
| 2 Bedroom | $260 | $1,300 | $1,560 |
| 3 Bedroom | $120 | $1,890 | $2,010 |
| 4 Bedroom | -$130 | $2,460 | $2,330 |
Affordability — Okolona, Louisville, KY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $241,000 |
| Median Household Income | $78,900 |