Some good news for the city of Louisville is that more people are moving into Louisville than this time last year, according to a recent Redfin News article. Redfin, an online real estate brokerage, reported that Louisville saw a 113% net inflow increase in Q3 of 2020 as compared to Q3 of 2019. New York represented the most common state of origin for people moving into the city. Further, more of Redfin’s users were looking to move into Louisville than were looking to move out of Louisville.
This increase at this time may be somewhat surprising as Louisville has faced protests and national pressure for institutional change in the wake of the Breonna Taylor killing. However, for people that know the city has much more to offer, the increase in inflow seems like a long time coming.
People are leaving large metro areas as the COVID-19 Pandemic has hit, and is hitting, those areas the hardest. Remote work has made it possible for those people to leave large cities for cities, like Louisville, that can offer better lifestyles during the pandemic. Louisville and similar cities are able to offer more space to safely spread out at shockingly lower costs.
The influx of people to the city, and the added economic stimulation that comes with them, is welcome with the virus causing strict regulations to prevent its spread. Hopefully, as vaccines are rolled out and regulations are lifted, there will be new opportunities for entrepreneurs and business owners that also come along with these people moving to Louisville.
To zoom out a bit and look at the full data set, you can see Louisville came in second for Metro areas with the biggest increases in net inflow, Q3 2019 – Q3 2020.
