Well, I can't say much for the flying jobs around here seeing as I'm not into the industry yet, but there are some pretty decent areas to live. The nearer you get to downtown Louisville, the more ghetto it gets, but right now the east end is a very nice part of town. St. Matthews is on the upper end of the income scale which I'm guessing is a bit out of your range at the moment. There are some decent subdivisions on Bardstown Rd. (Glenmary), which is still a bit on the pricey side. If you wanted to you could look at Apple Valley in Highview which is more mid-priced.
You can also find some nice houses on the wesside, if you don't mind being out by the ghetto schools. If you live out there you'll be about 10 minutes from LOU and SDF ... St. Matthews would be about the same. If you live in Highview or further out on the east end you're looking at more like 20 minutes' worth of a commute. You could also look at Indiana, but I wouldn't know anything about living there.
There are three main airports in the Louisville vicinity: SDF is the big mama (home to UPS and all airline flights into/out of Louisville). There are always a good number of corporate aircraft sitting over on the GA ramp. I haven't heard the best things about their FBO but I don't have any first-hand experiences to relay from them. LOU/Bowman Field is in St. Matthews on the east end, and it's where pretty much 75% of the GA traffic in Louisville is based. There is a flight school (or two?) there and I think they are the base for one small freight company, but not much corporate traffic is there from what I've seen. The other airport near Louisville is Clark County across the river in Indiana. I've only been there once so I can't say much for what's there ... it's the smallest of the three and I'm not sure if there are any flight schools there but the runway is long enough to accomodate corporate aircraft so you never know.
Edit: AirNav has a remark stating that there's high-intensity student activity at JVY/Clark County, so I'd imagine there are some instructing gigs there if that's what you're looking for.
