Cheap Apartments for Rent in the Algonquin Neighborhood of Louisville, KY from $300 (54 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Algonquin area of 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 1829 S 3rd St

1829 S 3rd St

LouisvilleKY40208
property at 4113 S 3rd St

4113 S 3rd St

LouisvilleKY40214

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1026 S 4th St
Studio to 2 Bedroom Apartments

1026 S 4th St

1026 S 4th StLouisville, KY 40203
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1337 S 4th St
Studio to 2 Bedroom Apartments

1337 S 4th St

1337 S 4th StLouisville, KY 40208

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Old School Apartments
Studio Apartments

Old School Apartments

422 Heywood AveLouisville, KY 40208
Senior Living
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Wilart Arms Apartments
1 to 3 Bedroom Apartments

Wilart Arms Apartments

1797 Wilart DrLouisville, KY 40210
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Mayflower Apartments
Studio Apartments

Mayflower Apartments

425 W Ormsby AveLouisville, KY 40203
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431 Kensington Ct
1 Bedroom Apartments

431 Kensington Ct

431 Kensington CtLouisville, KY 40208

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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Cavalier Apartments
1 to 2 Bedroom Apartments

Cavalier Apartments

1245 S 4th StLouisville, KY 40203
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Cathedral Commons
Studio to 2 Bedroom Apartments

Cathedral Commons

433 S 2nd StLouisville, KY 40202
Showing Results 1-50, Page 1 of 2

Algonquin, Louisville, KY Local Guide

Cheapest Available Algonquin Apartments for Rent

 

The cheapest available apartment rental in the Algonquin area of Louisville, KY is a Studio unit found at The Puritan Senior Living - 62 & Over priced from $200. Gateway on Broadway has the second lowest priced unit, which is a 2 Beds apartment currently listed from $542. Here are the most affordable Algonquin apartments for rent in Louisville, KY:

Apartment ListingModel NameBed/BathPriced From
The Puritan Senior Living - 62 & OverStudioStudio,1BA$200
Gateway on BroadwayTwo Bedroom2BR,1BA$542
Yugo Louisville Nine4 Bed, 4 Bath Classic Balcony4BR,4BA$709
Lofts on OrmsbyStudioStudio,1BA$725
Vue at 3rd StreetStudioStudio,1BA$799
800 Towers ApartmentsStudioStudio,1BA$910
Cardinal Village Apartments1x1 Lower Level1BR,1BA$910
Flats on FifthThe Volstead1BR,1BA$955
Beecher Terrace Apartments1 Bedroom*1BR,1BA$970
York Towers ApartmentsStudioStudio,1BA$976

Best Value Apartments for Rent in Algonquin, KY

As of July 31, 2025 the best value apartment in the Algonquin area is the $1.00 price per square foot 3 Bedroom Model at The Cornerstone in the in the Medical Center neighborhood starting from $1,200. The second greatest value Algonquin apartment is the 3 Beds, 1.5 Baths Model at 1524 S 4th St starting at $1,250 with a $1.14 price per square foot in the Phoenix Hill neighborhood. Here is today’s list of the best values for Algonquin apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Cornerstone3 Bedroom3BR,1BA$1.00
1524 S 4th St3 Beds, 1.5 Baths3BR,1.5BA$1.14
Gateway on BroadwayOne Bedroom1BR,1BA$0.50
The St. Francis Apartments2BR2BA2BR,2BA$1.28
Yugo Louisville Nine2 Bed, 2 Bath Classic Pool View2BR,2BA$1.05
Derby Row | Student HousingThoroughbred2BR,2BA$1.00
226 W Burnett Ave, Unit 218226 W Burnett Ave2BR,1BA$1.33
Guthrie-Coke Lofts1 Bedroom - 1 Bathroom1BR,1BA$1.49
Crescent Centre Apartments & TownhomesOne Bedroom-699 sqft1BR,1BA$1.42
800 Towers ApartmentsStudioStudio ,1BA$1.50

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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Pet Friendly Lifestyle
Algonquin, Louisville, KY

Ranked #49

Among cities in Kentucky for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Algonquin, Louisville, KY

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of rentals in cities and towns across the United States and customized analysis for Central Louisville, KY. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including our Star Ratings to compare for outdoor amenities like tennis courts, luxury amenities, kid and pet-friendly communities, availability of transit options, and more. These search options are in the site filters at the top of this page.

Getting Around the Algonquin Neighborhood in Louisville, KY

Walk Score®

53 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

53 / 100

Bikeable

Some bike infrastructure

Transit Score®

43 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Algonquin Apartments

What is a cheap apartment in Algonquin?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Algonquin is under $976.

What is the price of a cheap apartment in Algonquin?

The cheapest apartment in Algonquin is Gateway on Broadway which is listed at $542, while the average apartment in Algonquin costs $1,491.

What types of apartments are the cheapest in Algonquin?

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 73 regular apartments in Algonquin 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 Algonquin?

Cheap apartments in Algonquin have an average cost of $283 which is $1,208 cheaper than the average rent for all rentals in Algonquin.

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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The 10 Best Affordable Neighborhoods for Renting in Louisville, KY

Written by: Mike Heuer

Louisville, Kentucky, founded in 1778, has grown to be the largest city in Kentucky and is a terrific city situated right along the south bank of the Ohio River.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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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.