Louisville q2 2026

AVERAGE RENT

$1,205 Q2 2026

OCCUPANCY RATE

92.3% Q2 2026

NET ABSORPTION

1,336 T4Q

ANNUAL RENT CHANGE

-0.4% Q2 2026

ANNUAL OCCUPANCY CHANGE

-110 BPS

COMPLETIONS

1,370 T4Q

KEY TAKEAWAYS

Trailing 12-month absorption of 1,336 units has nearly matched 1,370 units delivered, bringing Louisville's multifamily market into a much tighter supply-demand balance than a year ago.

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The under-construction pipeline stands at 3,401 units (3.5% of inventory), while trailing 12-month starts have accelerated to 2,751 units, signaling a potential future supply wave that warrants monitoring.

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Rents have stabilized at $1,205 per unit, down a modest -0.4% from a year ago as the market works through a second straight quarter of annual softening. Occupancy of 92.3% is down 110 bps year-over-year.

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MARKET OUTLOOK

Louisville's multifamily market is positioned at a constructive inflection point in its supply cycle. The delivery wave has subsided materially, and absorption has kept pace...

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