Cheap Apartments for Rent in the Central Lafayette Parish Neighborhood of Lafayette, LA from $500 (203 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Central Lafayette Parish area of Lafayette.

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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property at 511 Ray Ave

$825 - $1,400

Total Monthly Price

Total Monthly Price

Base Rent
$825 - $1,400
Total Monthly Price
$825 - $1,400

2 To 3 Bedroom Homes for Rent

Available Now

511 Ray Ave

LafayetteLA70506

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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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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Central Lafayette Parish, Lafayette, LA Local Guide

Cheapest Available Central Lafayette Parish Apartments for Rent

 

The cheapest available apartment rental in the Central Lafayette Parish area of Lafayette, LA is a 1 Bed unit found at River Oaks Apartments priced from $745. Acadian Crossing/Utilities Included has the second lowest priced unit, which is a Studio apartment currently listed from $750. Here are the most affordable Central Lafayette Parish apartments for rent in Lafayette, LA:

Apartment ListingModel NameBed/BathPriced From
River Oaks Apartments1 Bedroom|1 Bath1BR,1BA$745
Acadian Crossing/Utilities IncludedAcadian - StudioStudio,1BA$750
Lila PlaceLPA11BR,1BA$757
Gallery Apartments1 Bedroom / 1 Bath - Plan E1BR,1BA$775
Landfair Complex2BR/1.0BA2BR,1BA$775
Santa RosaSRSMRStudio,1BA$800
Eagle Run1BR Floor Plan1BR,1BA$805
Silver Creek ApartmentsOne Bed One Bath1BR,1BA$825

Best Value Apartments for Rent in Central Lafayette Parish, LA

As of August 26, 2026 the best value apartment in the Central Lafayette Parish area is the $0.51 price per square foot Vermillion Model at Cottage Landing in the in the Central Lafayette Parish neighborhood starting from $800. The second greatest value Central Lafayette Parish apartment is the 2x2 Model at The Commons at Ridge and Loop starting at $900 with a $0.64 price per square foot in the Central Lafayette Parish neighborhood. Here is today’s list of the best values for Central Lafayette Parish apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Cottage LandingVermillion3BR,3BA$0.51
The Commons at Ridge and Loop2x22BR,2BA$0.64
101 Belgium St, Unit AD101 Belgium St2BR,1.5BA$0.76
Stonegate Apartments2x22BR,2BA$0.93
The QuartersB3 Floor Plan (Dauphine)2BR,2BA$0.88
Landfair Complex2/12BR,1BA$0.92
Theater Street ApartmentsB2 Floor Plan2BR,2BA$0.90
Mimosa Place Apartments2 Bedroom2BR,1BA$1.04
105 VIEUX ORLEANS CIR, Unit Apt D105 VIEUX ORLEANS CIR1BR,1BA$0.94
River Oaks Apartments1 Bedroom|1 Bath1BR,1BA$1.03

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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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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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Best Local Schools in
Central Lafayette Parish, Lafayette, LA

School data provided by Great Schools

Frequently Asked Questions about Cheap Central Lafayette Parish Apartments

What is a cheap apartment in Central Lafayette Parish?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Central Lafayette Parish is under $825.

What is the price of a cheap apartment in Central Lafayette Parish?

The cheapest apartment in Central Lafayette Parish is River Oaks Apartments which is listed at $745, while the average apartment in Central Lafayette Parish costs $1,352.

What types of apartments are the cheapest in Central Lafayette Parish?

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 84 regular apartments in Central Lafayette Parish 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 Central Lafayette Parish?

Cheap apartments in Central Lafayette Parish have an average cost of $204 which is $1,148 cheaper than the average rent for all rentals in Central Lafayette Parish.

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

decorative image for Rent According to Income: A Look at Income-Restricted Rentals article

Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

decorative image for First Apartment Regrets: Real Renters Share What They'd Do Differently article

First Apartment Regrets: Real Renters Share What They'd Do Differently

Written by: Robin Stewart

Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.