The Housing Market in Hillview Today
Hillview, Kentucky is a growing suburb located just south of Louisville. Its proximity to the city combined with a small-town feel has made it an increasingly popular place to live in recent years. The local housing market has seen steady demand, especially from young families and professionals who commute to Louisville for work.
Compared to Louisville proper, Hillview offers more affordable housing options with a median home price that’s about 20% lower. The majority of the housing stock consists of single-family homes, with some newer apartment and townhome developments adding rental options in recent years. Local economic drivers include the nearby Amazon Fulfillment Center and UPS Worldport hub which employ many Hillview residents.
While prices have risen in Hillview as they have nationally, the area still provides relative value and a lower cost of living than urban Louisville neighborhoods. However, with land limited for new development, existing home prices and rents are projected to continue rising steadily in the coming years.
Renting in Hillview: Typical Costs and Trends
As of 2025, the typical rent for a 1-bedroom apartment in Hillview ranges from $900 to $1,200 per month. For a 2-bedroom, expect to pay between $1,100 and $1,500 monthly. These prices put Hillview just slightly below the national average for suburban areas.
Young professionals are one of the fastest-growing renter demographics in Hillview, often choosing the area as a more affordable alternative to Louisville while still having a reasonable commute. Apartments near major thoroughfares like I-65 tend to be on the higher end of the price range.
Hillview’s historic downtown area has seen a few new apartment developments in recent years, which command top-of-market rents for their walkable location and modern amenities. More affordable rentals can generally be found on the west side of town further from I-65.
Owning a Home in Hillview: Prices, Taxes, and HOA Fees
The median home price in Hillview currently stands at around $220,000, with most houses ranging from $180,000 to $350,000 depending on size, age, and location. Newly constructed homes in amenity-rich planned communities represent the top end of the market.
Homeowners in Hillview pay property taxes to both the city and Bullitt County. The total effective property tax rate is approximately 1.1% of assessed value, slightly higher than the national average but lower than in Louisville.
About 30% of Hillview’s housing stock is located within HOA communities. Monthly HOA fees typically range from $100 to $300, with most falling around $200. These fees usually cover neighborhood amenities like community pools, parks, and walking trails as well as common area maintenance and trash collection.
Apartment vs House in Hillview: Side-by-Side Costs
| Monthly Expense | Apartment (2BR) | House (3BR) |
|---|---|---|
| Rent/Mortgage Payment | $1,300 | $1,480 |
| Property Tax | N/A (included in rent) | $200 |
| Utilities | $150 | $250 |
| Insurance | $15 (renters) | $80 (homeowners) |
| HOA Fees | N/A | $200 |
| Maintenance & Repairs | $0 | $150 |
| Monthly Total | $1,465 | $2,360 |
Utility & Upkeep Differences
Utility costs are a notable difference between renting an apartment and owning a home in Hillview. Houses are generally larger than apartments, leading to higher costs for heating, cooling, and electricity. Homeowners can expect to pay around $250 per month for utilities on average, while a typical apartment renter pays closer to $150.
Maintenance is another expense that falls solely on homeowners. While some repairs may be covered by an HOA, most routine upkeep like lawn care, gutter cleaning, and appliance repairs are the homeowner’s responsibility. Renters, on the other hand, can call the landlord for most maintenance issues. Budgeting 1% of the home’s value annually for maintenance and repairs is a good rule of thumb for Hillview homeowners.
5-Year Rent vs Buy Outlook
Looking at the total costs of renting vs buying over a 5-year period, owning a home in Hillview becomes more financially advantageous than renting after about 3 years. This assumes a 20% down payment and includes all housing expenses like taxes, insurance, and maintenance.
After 5 years, the total cost of renting a 2-bedroom apartment in Hillview is projected to be around $92,000, assuming 3% annual rent increases. Owning a $220,000 home has a 5-year cost of approximately $86,000 when accounting for the down payment, mortgage payments, property taxes, insurance, maintenance, and HOA fees.
This cost comparison doesn’t account for the potential appreciation of the home’s value over time, which further tilts the math in favor of buying. However, renting remains attractive for those who value flexibility and want to avoid the responsibilities of homeownership.
FAQs About Housing Costs in Hillview
- How much are HOA fees in Hillview?
HOA fees in Hillview typically range from $100 to $300 per month, with an average around $200. Not all homes are part of an HOA. - What is the property tax rate in Hillview?
The effective property tax rate in Hillview is approximately 1.1% of the home’s assessed value, including both city and county taxes. - Is renting cheaper than buying long-term in Hillview?
Buying becomes cheaper than renting in Hillview after about 3 years. Over a 5-year period, owning is projected to save around $6,000 compared to renting. - Do houses have higher utility costs than apartments?
Yes, houses in Hillview generally have higher utility costs due to their larger size. Expect to pay around $250 per month for utilities in a house compared to $150 in an apartment.
Making Smart Housing Choices in Hillview
When deciding whether to rent or buy a home in Hillview, it’s important to look beyond the monthly payment and consider the full picture of housing costs. This includes easily overlooked expenses like property taxes, HOA fees, maintenance, and higher utility bills, which can add up to hundreds of dollars per month for homeowners.
Renting may be the better choice for those who prioritize flexibility and want to avoid the added costs and responsibilities of homeownership. However, buying can make more financial sense in the long run for those planning to stay in Hillview for several years.
Regardless of whether you rent or buy, housing will likely be your single largest monthly expense. Be sure to budget accordingly and consider all costs before making a decision. Our guides to the average monthly expenses and overall cost of living in Hillview provide helpful benchmarks. And if a move is in your future, don’t forget to compare moving company costs to find the best deal.