Cheap Apartments for Rent in Lafayette, LA from $500 (81 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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.

Read Article

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.

Read Article

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.

Read Article

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.

Read Article
close
View Me
Fairway Apartments
1 to 2 Bedroom Apartments

Fairway Apartments

156 Verona DrLafayette, LA 70507
  • Utilities Included

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.

Read Article
Showing Results 1-50, Page 1 of 2

Lafayette, LA Local Guide

Photo of Staff Writer - Local Guide Expert
Written By:
Staff Writer
Local Guide Expert

Cheapest Neighborhoods for Apartments in Lafayette, LA

Pricing Updated: 10/27/2025

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$1,185$530118
Central Lafayette Parish$1,750$530662
North Lafayette Parish$1,750$530565

Cheapest Available Lafayette Apartments for Rent

 

The cheapest available apartment rental in Lafayette, LA is a 2 Beds unit found at Theater Street Apartments in the Central Lafayette Parish neighborhood priced from $740. Whispering Oaks Apartments in the Central Lafayette Parish neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $750. Here is today’s list of the most affordable Lafayette apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Theater Street ApartmentsB3UF Floor Plan2BR,2BA$740
Whispering Oaks Apartments1x1 500sf downstairs1BR,1BA$750
Eagle Run1BR Floor Plan1BR,1BA$750
Garden Heights ApartmentsOne Bed One Bath1BR,1BA$750
Basswood1x1 Main Level Classic1BR,1BA$750
Lila PlaceLPA11BR,1BA$757
Acadian Point ApartmentsA1 1 BEDROOM 1 BATH1BR,1BA$779
Lux of Lafayette1x11BR,1BA$799
Pinewoods ApartmentsOne bed One bath1BR,1BA$800

Best Value Apartments for Rent in Lafayette, LA

As of October 27, 2025 the best value apartment in the Lafayette area is the $1.00 price per square foot 2 Bedroom Model at Brooke Pointe in the in the Central Lafayette Parish neighborhood starting from $1,081. The second greatest value Lafayette apartment is the 2 Bedroom Model at Canterbury Square starting at $1,050 with a $1.00 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 Pointe2 Bedroom2BR,2BA$1.00
Canterbury Square2 Bedroom2BR,2BA$1.00
Maison Bocage Apartments2 Bed 2 Bath2BR,2BA$1.07
Diamond Lakes Apartment Homes2 Bedroom 2 Bath2BR,2BA$1.00
Stonegate Apartments2x22BR,2BA$0.93
French Colony2 Bedroom 2 Bathroom2BR,2BA$1.03
Cheyenne HeightsTwo Bed2BR,1BA$1.06
Elora PlaceOne Bedroom (a)1BR,1BA$1.05
Gallery Apartments2 Bedroom / 2 Bath - Plan C2BR,2BA$1.04
Willow GardensTHA21BR,1.5BA$0.96

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

Read Article
Decorative image

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.

decorative image of people with a giant lease agreement

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.

Lafayette, LA
Population: 126,143

Ranked #219

in US Census Population by City

decorative image of people examining a giant globe and floating graphs

Best Local Schools in
Lafayette, LA

School data provided by Great Schools

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

Explore Lafayette, LA Rentals by Map

Decorative image of map

See the most popular apartments and homes in Lafayette, LA

View Map
Lafayette, LA Apartments Map
View Map
Lafayette, LA Rental Homes Map

Getting Around Lafayette, LA

Walk Score®

51 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

49 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

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 Whispering Oaks Apartments which is listed at $750, while the average apartment in Lafayette costs $1,561.

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 155 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 $400 which is $1,161 cheaper than the average rent for all rentals in Lafayette.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

decorative image for Apartment Common Area Rules: What Renters Need to Know article

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.

decorative image for How to Negotiate Your Apartment Lease and Save Money article

How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

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

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.