Cheap Apartments for Rent in Louisville, KY from $300 (748 Rentals)

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

property at 1309 Dixie Hwy

$500 - $600

1 Bedroom Rentals

Available Now

1309 Dixie Hwy

LouisvilleKY40210
property at 1349 Olive St

$650

1 Bedroom Rentals

Available Now

1349 Olive St

LouisvilleKY40211
property at 1206 S Preston St

$650 - $795

Studio To 1 Bedroom Rentals

Available Now

1206 S Preston St

LouisvilleKY40203

Bourbon, Baseball, and the Blues: Your Insider's Guide to Louisville, Kentucky

There's more to Louisville than the Kentucky Derby. Get a local insider's take on the best bourbon tours, dining, music venues, horse racing, and cultural experiences the city has to offer.

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Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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Mint Juleps and Mile-Saving Commutes: Finding Quality Louisville Apartments Near Major Employers

Stop driving and start living! We highlight the best Louisville neighborhoods—from Beechmont to Audubon Park—with great rentals near top job providers.

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4331 S 3rd St, Unit 1
$775
Total Monthly Price

Total Monthly Price

Base Rent
$775
Total Monthly Price
$775
1 Bedroom Apartment Available Now

4331 S 3rd St, Unit 1

4331 S 3rd StLouisville, KY 40214
Affordability

Louisville's Best Affordable Neighborhoods

Learn about Louisville with original content written by our Louisville, KY Local Expert, Mike Heuer

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Louisville, KY Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Louisville, KY

Pricing Updated: 07/20/2026

Current apartment rentals in the Louisville, KY area range in price from $200 to $10,083 with an overall median price of $2,166. The three Louisville neighborhoods with the lowest median rent pricing are University at $717, Churchill Downs at $619, and Standiford at $695. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Louisville Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
University$1,000$71727
Churchill Downs$1,019$61930
Standiford$1,070$69529
Deer Park$1,147$79912
Downtown New Albany$1,161$68144
Algonquin$1,200$200374
Cloverleaf$1,200$673206
Hallmark$1,200$600152
Hazelwood$1,200$550188
Highland Park$1,200$550175

Cheapest Available Louisville Apartments for Rent

 

The cheapest available apartment rental in Louisville, KY is a 1 Bed unit found at Yellowwood Terrace Affordable Senior Housing in the Clarksville neighborhood priced from $200. The Puritan Senior Living - 62 & Over in the Phoenix Hill neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $200. Here is today’s list of the most affordable Louisville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Yellowwood Terrace Affordable Senior HousingStandard1BR,1BA$200
The Puritan Senior Living - 62 & OverStudioStudio,1BA$200
The Prestonian1B1BR,1BA$494
5310-5312 Milner Rd0 Beds, 1 BathsStudio,1BA$550
5302 Milner Rd0 Beds, 1 BathsStudio,1BA$550
Lower Hunters Trace3 Bedroom3BR,2BA$673
Knox Landing1 Bed / 1 Bath1BR,1BA$700
800 Towers ApartmentsStudioStudio,1BA$715
Brookview GlenStudioStudio,1BA$719

Best Value Apartments for Rent in Louisville, KY

As of July 20, 2026 the best value apartment in the Louisville area is the $0.75 price per square foot 2229 S Shelby St Model at 2229 S Shelby St, Unit 1 in the in the Downtown Louisville neighborhood starting from $3,000. The second greatest value Louisville apartment is the 3 Bedroom 2 Bath Model at Knobs Pointe Apartments starting at $1,425 with a $0.89 price per square foot in the New Albany 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.
2229 S Shelby St, Unit 12229 S Shelby St6BR,3BA$0.75
Knobs Pointe Apartments3 Bedroom 2 Bath3BR,2BA$0.89
Brexx at LouisvilleCourtyard 4x44BR,4BA$0.54
Willow Place ApartmentsTwo bedroom2BR,1BA$0.91
By the ParkTwo bedroom2BR,1BA$0.93
2014 W Main St, Unit 1F2014 W Main St2BR,1BA$0.80
4700 Walnut Grove Ave, Unit 14700 Walnut Grove Ave2BR,1BA$0.89
Furlong Apartments2 Bedroom/1Bath2BR,1BA$0.92
Broadleaf ArmsOne Bedroom One Bathroom1BR,1BA$0.94
Yellowwood Terrace Affordable Senior HousingStandard1BR,1BA$0.34

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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The Official Expert's Guide to the Top Neighborhoods in Louisville for College Renters

Learn About the Best Neighborhoods to Rent Near College Campuses in Louisville, KY | Find Louisville Off-Campus Student Housing at ApartmentHomeLiving.com

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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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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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Louisville Overview

Steeped in tradition and bubbling over with an exuberant celebration of everything from bourbon to Beatles, every day feels like “Derby Day” in Louisville. Louisville's contradictions are what makes it special. While the Kentucky city boasts the historic Churchill Downs racetrack and the largest Victorian district in the nation, Louisville is also home to Fortune 500 companies -- and a quirky “indie” section that rivals even Portland’s famous alternative scene.

Why live in Louisville, KY?

Truly a wonderful place to be, life in apartments in Louisville can't be beat. There is never a shortage of excitement to get out and enjoy either. From nightlife to historic landmarks to the Kentucky Derby it's hard to ever be bored here!

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

Explore Louisville, KY Rentals by Map

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Louisville, KY Area Reviews

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Frequently Asked Questions about Cheap Louisville Apartments

What is a cheap apartment in Louisville?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Louisville is under $719.

What is the price of a cheap apartment in Louisville?

The cheapest apartment in Louisville is Yellowwood Terrace Affordable Senior Housing which is listed at $200, while the average apartment in Louisville costs $2,166.

What types of apartments are the cheapest in Louisville?

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 2,081 regular apartments in Louisville 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 Louisville?

Cheap apartments in Louisville have an average cost of $447 which is $1,719 cheaper than the average rent for all rentals in Louisville.

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.

Helpful Local Expert Guides

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Bourbon, Baseball, and the Blues: Your Insider's Guide to Louisville, Kentucky

Written by: Mike Heuer

Louisville is one great city in which to visit, live, work, and raise a family. It has excellent and reasonably affordable housing, great neighborhoods, and a whole lot more to offer its residents and visitors alike.

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Mint Juleps and Mile-Saving Commutes: Finding Quality Louisville Apartments Near Major Employers

Written by: Mike Heuer

Kentucky is a business-friendly commonwealth, and Louisville is its largest city. It also is home to many great employers who pay well, and their workers have lots of great choices in neighborhoods to rent great apartments.

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The Official Expert's Guide to the Top Neighborhoods in Louisville for College Renters

Written by: Mike Heuer

Louisville is a terrific location to get an advanced education at one of its many great colleges and universities.

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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.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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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.