Cheap Apartments for Rent in Lafayette Parish, LA from $500 (145 Rentals)

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

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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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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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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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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. Eagle Run 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 Parish apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Patriot Point of Lafayette (FKA Brookwood)1 Bedroom1BR,1BA$695
Eagle Run1BR Floor Plan1BR,1BA$750
Garden Heights ApartmentsOne Bed One Bath1BR,1BA$750
Gallery Apartments1 Bedroom / 1 Bath - Plan E1BR,1BA$775
Theater Street ApartmentsB3UF Floor Plan2BR,2BA$780
Acadian Point ApartmentsA1 1 BEDROOM 1 BATH1BR,1BA$784
Willow GardensA11BR,1BA$795
Lila PlaceLPA21BR,1BA$795
Diamond Lakes Apartment Homes1 Bedroom 1 Bathroom1BR,1BA$799

Best Value Apartments for Rent in Lafayette Parish, LA

As of December 23, 2025 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
The Plantation at Lafayette2 Bed 2 Bath (B1)2BR,2BA$1.08
Holly PlaceHPB22BR,1BA$0.93
Whispering Oaks Apartments2x2 950sf upstairs2BR,2BA$1.03
Greystone ApartmentsCambria2BR,1BA$1.13
Cheyenne HeightsTwo Bed2BR,1BA$1.06
115 Township Ln, Unit C115 Township Ln2BR,1BA$1.05

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 $799.

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 $1,799.

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 128 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 $431 which is $1,368 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

decorative image for Renting with Roommates: Realistic Expectations for Shared Lease article

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.

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.