Cheap Apartments for Rent in Lafayette Parish, LA from $500 (147 Rentals)

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

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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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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Cheapest Available Lafayette Parish Apartments for Rent

 

The cheapest available apartment rental in Lafayette Parish, 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 Parish 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
Landfair Apartments2BR/1.0BA2BR,1BA$750
Eagle Run1BR Floor Plan1BR,1BA$750
Garden Heights ApartmentsOne Bed One Bath1BR,1BA$750
Stonegate Apartments1x11BR,1BA$760
Theater Street ApartmentsB3UF Floor Plan2BR,2BA$780

Best Value Apartments for Rent in Lafayette Parish, LA

As of February 08, 2026 the best value apartment in the Lafayette Parish 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 Parish apartment is the UNFURNISHED 2BR/2BA Model at Guidry Row Apartment Homes starting at $1,200 with a $1.13 price per square foot in the Central Lafayette Parish neighborhood. Here is today’s list of the best values for Lafayette Parish apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Brooke Pointe3 Bedroom3BR,2BA$0.99
Guidry Row Apartment HomesUNFURNISHED 2BR/2BA2BR,2BA$1.13
Canterbury Square2 Bedroom2BR,2BA$1.00
City Heights Steeplechase C.H.A.M.2x22BR,2BA$0.94
Holly PlaceHPB22BR,1BA$0.93
Cheyenne HeightsTwo Bed2BR,1BA$1.06
Lux of Lafayette2x12BR,1BA$1.13
Landfair Apartments2BR/1.0BA2BR,1BA$0.94
Lila PlaceLPB12BR,1BA$1.10
104 Nouveau Ln, Unit Unit 1104 Nouveau Ln1BR,1BA$1.13

Frequently Asked Questions about Cheap Lafayette Parish Apartments

What is a cheap apartment in Lafayette Parish?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lafayette Parish is under $780.

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

The cheapest apartment in Lafayette Parish is Patriot Point of Lafayette (FKA Brookwood) which is listed at $695, while the average apartment in Lafayette Parish costs $1,825.

What types of apartments are the cheapest in 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 135 regular apartments in 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 Lafayette Parish?

Cheap apartments in Lafayette Parish have an average cost of $419 which is $1,406 cheaper than the average rent for all rentals in 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

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

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decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

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.

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

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.