Costs of several factors are below national average
LEXINGTON, Ky. (Jan. 12, 2017) — Louisville is the nation’s 13th most affordable city among cities with populations of 600,000 or more, according to Forbes.
To create the list Forbes first looked at housing affordability, using the latest (Q4 2014) Housing Opportunity Index (HOI) from the National Association of Home Builders and Wells Fargo. Then they factored in an index developed by Sperling’s Best Places, which measures the cost of food, utilities, gas, transportation, medical expenses and other daily expenses in each area.
Louisville has a median family income of $64,300 and a median sales price of $155,000, according to Forbes. Louisville’s housing affordable at median family income is 73.8 percent.
Cost below national average:
- Groceries: 9.1 percent
- Utilities: 11.2 percent
- Transportation: 2.1 percent
- Health: 7.7 percent
- Misc.: 3.5 percent