Cheap Apartments for Rent near Louisville, IL from $300 (38 Rentals)

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

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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Rider Place
1 to 3 Bedroom Apartments

Rider Place

9 Wills PlArcola, IL 61910
  • Utilities Included
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Sugar Creek Crossing
1 to 2 Bedroom Apartments

Sugar Creek Crossing

211 Joanie LnRobinson, IL 62454
Senior Living
  • Utilities Included
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Newton Senior Housing
1 to 2 Bedroom Apartments

Newton Senior Housing

201 Eaton StNewton, IL 62448
Senior Living
  • Utilities Included
property at 1520 Main St

$675 - $775

1 To 2 Bedroom Rentals

Available Now

1520 Main St

VincennesIN47591

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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600 Marshall Ave
1 to 2 Bedroom Apartments

600 Marshall Ave

600 Marshall AveMattoon, IL 61938

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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Showing Results 1-38, Page 1 of 1

Louisville, IL Local Guide

Cheapest Available Louisville Apartments for Rent and Nearby

 

The cheapest available apartment rental in Louisville, IL is a 1 Bed unit found at Westport Apartments priced from $484. McKay Manor in the Clinton County neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $486. Here is today’s list of the most affordable Louisville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Westport ApartmentsOne Bedroom1BR,1BA$484
McKay Manor1 Bdrm1BR,1BA$486
Arthur Ave Apartments1x11BR,1BA$610
Southern Meadows Senior Living1 Bed Apt1BR,1BA$650
Valoré at Hidden HillsThe Dogwood - One Bedroom Apartment Home1BR,1BA$675
616 S 6th St0/1Studio,1BA$699
Flax Meadow TownhomesTwo Bed2BR,1BA$715
OldeTowne Apartments2 Bed/1.5 Bath2BR,1BA$719
Kingsbury Campus Apartments2 Beds, 1 Bath Model2BR,1BA$800
The Raymond ApartmentsTwo bedroom2BR,1BA$800

Best Value Apartments for Rent in Louisville, IL and Nearby

As of July 13, 2026 the best value apartment in the Louisville area is the $0.99 price per square foot 3 Bed 2.5 Bath Model at Panther Heights in the starting from $1,380. The second greatest value Louisville apartment is the Kensington Model at North Park starting at $1,099 with a $0.92 price per square foot in the Mt Auburn neighborhood. Here is today’s list of the best values for Louisville apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Panther Heights3 Bed 2.5 Bath3BR,2.5BA$0.99
North ParkKensington2BR,1.5BA$0.92
Eagle Village - Historical Access4BR/2BA - Furnished4BR,2BA$0.47
Flax Meadow TownhomesTwo Bed2BR,1.5BA$0.81
Royal HeightsRoyal Heights 2 Bed w/ Study & 1.5 Bath3BR,1.5BA$0.38
The Raymond ApartmentsTwo bedroom2BR,1BA$1.00
Kingsbury Campus Apartments2 Beds, 1 Bath Model2BR,1BA$1.05
McKay Manor1 Bdrm1BR,1BA$0.66
Westport ApartmentsOne Bedroom1BR,1BA$0.71
Arthur Ave Apartments1x11BR,1BA$0.97

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

Explore Louisville, IL Rentals by Map

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See the most popular apartments and homes in Louisville, IL

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Frequently Asked Questions about Cheap Louisville Apartments

What is the Cheapest Studio apartment in Louisville?

Currently the most affordable Cheap Studio Apartment in Louisville is at 616 S 6th St listed at $699.

How much is rent for a Cheap One Bedroom Louisville Apartment?

The lowest price for a Cheap One Bedroom Louisville Apartment is $484 at Westport Apartments.

What is the lowest price for a Cheap Two Bedroom Louisville Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Louisville is starting from $552 at McKay Manor.

What is the most affordable Louisville Three Bedroom Apartment?

The best deal on a cheap Louisville Three Bedroom Apartment rental is at McKay Manor and starts from $587.

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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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.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.