Best Places in the South to Buy an Old House

The Neighborhood
Stately homes face one another across lush, gaslit "walking courts," and yards overflow with geraniums and magnolia trees here. Residents treat gardening like a competitive sport, their efforts celebrated by seasonal garden tours. Central Park, a 17-acre municipal green space designed by famed architect Frederick Law Olmsted, sits adjacent to the neighborhood, which was developed in the 1870s. Old Louisville is just a stone's throw from the University of Louisville, and the city's top employers include health insurance provider Humana, bourbon producer Brown Forman Corp., and Republic BankCorp., a financial holding company.

The Houses
Old Louisville has 48 blocks' worth of Queen Annes, Second Empires, and Stick Victorians. Other styles include Italianate, Tudor, and Georgian Revival, and while many have been restored, others are clamoring for work.

The Prices
A rehabbed manse might run you about $275,000, and prices top out at $800,000.

Why Buy Now?
People gobbling up homes in this neighborhood feel it might one day have the cachet of Boston's Beacon Hill and other comparable treasure troves. But for now, the prices are far cheaper.

Among the best for:
Queen Annes, City Slickers, The South