Cheap Apartments for Rent in Lafayette, LA from $500 (94 Rentals)

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Search the lowest-cost Apartments available for rent right now in Lafayette.

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Lafayette, LA Local Guide

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Cheapest Neighborhoods for Apartments in Lafayette, LA

Pricing Updated: 01/26/2026

Current apartment rentals in the Lafayette, LA area range in price from to with an overall median price of . Here is today’s list neighborhoods with the lowest median pricing for Lafayette Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Downtown Lafayette$1,200$530110
North Lafayette Parish$1,750$530566
Central Lafayette Parish$1,787$530639

Cheapest Available Lafayette Apartments for Rent

 

The cheapest available apartment rental in Lafayette, LA is a 1 Bed unit found at Patriot Point of Lafayette (FKA Brookwood) in the Central Lafayette Parish neighborhood priced from $695. Gallery Apartments in the Central Lafayette Parish neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $699. Here is today’s list of the most affordable Lafayette apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Patriot Point of Lafayette (FKA Brookwood)1 Bedroom1BR,1BA$695
Gallery Apartments1 Bedroom / 1 Bath - Plan E1BR,1BA$699
Whispering Oaks Apartments1x1 (Plan A)1BR,1BA$750
Eagle Run1BR Floor Plan1BR,1BA$750
Garden Heights ApartmentsOne Bed One Bath1BR,1BA$750
Theater Street ApartmentsB3UF Floor Plan2BR,2BA$780
Acadian Point ApartmentsA1 1 BEDROOM 1 BATH1BR,1BA$784
Lila PlaceLPA21BR,1BA$795
Park Place Apartments1 Bedroom / 1 Bath1BR,1BA$799
Pinewoods ApartmentsOne bed One bath1BR,1BA$800

Best Value Apartments for Rent in Lafayette, LA

As of January 26, 2026 the best value apartment in the Lafayette area is the $0.99 price per square foot 3 Bedroom Model at Brooke Pointe in the in the Central Lafayette Parish neighborhood starting from $1,250. The second greatest value Lafayette apartment is the Mica w/Garage Model at Greystone Apartments starting at $1,090 with a $1.03 price per square foot in the Central Lafayette Parish neighborhood. Here is today’s list of the best values for Lafayette apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Brooke Pointe3 Bedroom3BR,2BA$0.99
Greystone ApartmentsMica w/Garage2BR,2BA$1.03
Guidry Row Apartment HomesUNFURNISHED 2BR/2BA2BR,2BA$1.13
Canterbury Square2 Bedroom2BR,2BA$1.00
Holly PlaceHPB22BR,1BA$0.93
Cheyenne HeightsTwo Bed2BR,1BA$1.06
104 Stanford Dr, Unit 104 Stanford Dr Apt C104 Stanford Dr2BR,1BA$0.91
Elora PlaceOne Bedroom (a)1BR,1BA$1.14
Stonegate Apartments2x12BR,1BA$1.06
Park Place Apartments1 Bedroom / 1 Bath1BR,1BA$1.14

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Quick Rent Budget Calculator

How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Lafayette Overview

Whether your interest lies in music, sports, art, or culture, Lafayette, Louisiana has something for you. Located in the southern part of the state, Lafayette is known for its diverse festivals, music, food, and cultural activities. Enjoy all the city has to offer in your very own Lafayette apartment.

Why live in Lafayette, LA?

What makes Lafayette so special is the diverse culture of the town. With a variety of cultures that provide the ethnic makeup of the town, you are able to find a range of music, food, and events to fill your days. The town hosts a variety of events throughout the year, such as Cajun Fairs, Creole Festivals, and Art walks. The area is also home to museums, clubs, and music venues that can fit anyone’s taste. Due to the variety of cuisine Lafayette has now been listed as one of the top foodie destinations.

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Lafayette, LA

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Lafayette, LA Rentals by Map

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See the most popular apartments and homes in Lafayette, LA

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Frequently Asked Questions about Cheap Lafayette Apartments

What is a cheap apartment in Lafayette?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lafayette is under $800.

What is the price of a cheap apartment in Lafayette?

The cheapest apartment in Lafayette is Patriot Point of Lafayette (FKA Brookwood) which is listed at $695, while the average apartment in Lafayette costs $1,579.

What types of apartments are the cheapest in Lafayette?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 354 regular apartments in Lafayette that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Lafayette?

Cheap apartments in Lafayette have an average cost of $573 which is $1,006 cheaper than the average rent for all rentals in Lafayette.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.