Cheap Homes for Rent in Louisville, IL from $300 (16 Rentals)

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

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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property at 205 North St

205 North St

RaymondIL62560

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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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.

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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 Rider Place priced from $500. The Millennium Apartments has the second lowest priced unit, which is a 3 Beds apartment currently listed from $505. Here is today’s list of the most affordable Louisville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Rider Place1 Bedroom1BR,1BA$500
The Millennium Apartments3 Bedroom3BR,1BA$505
Sullivan Downtown Townhomes3 Bed 2.5 Bath Duplex3BR,2BA$534
McKay Manor2 Bedroom2BR,1BA$548
Centralia EstatesUnit 432BR,1BA$723

Best Value Apartments for Rent in Louisville, IL and Nearby

As of July 27, 2025 the best value apartment in the Louisville area is the $0.58 price per square foot 3 Bedroom Model at McKay Manor in the starting from $730. The second greatest value Louisville apartment is the 3 Bedroom Model at The Millennium Apartments starting at $505 with a $0.41 price per square foot . 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.
McKay Manor3 Bedroom3BR,2BA$0.58
The Millennium Apartments3 Bedroom3BR,1BA$0.41
Centralia EstatesUnit 432BR,1.5BA$0.59
Eagle Village4BR/2BA - Furnished4BR,2BA$0.50
Liv at Locust CreekLuxury Dresden2BR,1.5BA$1.15
Vail Estates ApartmentsTwo Bedroom One Bathroom2BR,1BA$1.08
North ParkHarrington2BR,1BA$1.02
Park Place1639, 3 bed3BR,1BA$1.15
Mission Viejo VillasB- Barcelona1BR,1BA$1.13
Rider Place1 Bedroom1BR,1BA$0.92

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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Frequently Asked Questions about Louisville

What type of rentals are currently available in Louisville?

There are currently 45 Apartments for Rent in Louisville, IL with pricing that ranges from $500 to $2,500. There are also 36 Single Family Homes for rent, Condos, and Townhome rentals currently available in Louisville ranging from $364 to $1,850.

What is the current price range for Rental Homes in Louisville?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Louisville ranges from $364 to $1,850 with an average monthly rent of $1,092.

How much are larger Three and Four Bedroom Rentals in Louisville?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Louisville range from $534 to $1,674, while Three Bedroom Homes, Condos, and Townhomes for rent range from $695 to $1,600. Four Bedroom Single-Family rentals are also available starting from $880 and Four Bedroom Apartments start at $580.

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.

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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.