Cheap Apartments for Rent in Louisville, KY from $495 (761 Rentals)

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2431 Saint Xavier St, Unit 3
$675

Total Monthly Price

Base Rent$675
Total Monthly Price$675
1 Bedroom Apartment Available Now

2431 Saint Xavier St, Unit 3

2431 Saint Xavier StLouisville, KY 40212
Affordability
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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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property at 4140 W Broadway
$695 - $1,300
1 To 2 Bedroom Rentals
Available Now
Affordability

4140 W Broadway

LouisvilleKY40211
property at 421 Poplar Level Ct
$699 - $1,290
1 To 2 Bedroom Rentals
Available Now
Cost Per Sq.Ft.

421 Poplar Level Ct

LouisvilleKY40219

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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841 Beecher St, Unit A
$725

Total Monthly Price

Base Rent$725
Total Monthly Price$725
1 Bedroom Apartment Available Now

841 Beecher St, Unit A

841 Beecher StLouisville, KY 40215
Affordability
property at 1733 S 3rd St
$725
1 Bedroom Rentals
Available Now
Affordability

1733 S 3rd St

LouisvilleKY40208

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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Louisville's Best Affordable Neighborhoods

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

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4331 S 3rd St, Unit 3
$750

Total Monthly Price

Base Rent$750
Total Monthly Price$750
1 Bedroom Apartment Available Now

4331 S 3rd St, Unit 3

4331 S 3rd StLouisville, KY 40214
Affordability
property at 730 Brookline Ave
$750 - $930
1 Bedroom Rentals
Available Now
Cost Per Sq.Ft.

730 Brookline Ave

LouisvilleKY40214

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: 09/04/2026

Current apartment rentals in the Louisville, KY area range in price from $200 to $9,114 with an overall median price of $1,267. The three Louisville neighborhoods with the lowest median rent pricing are Shawnee at $797, Limerick at $800, and Portland at $890. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Louisville Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Shawnee$797$49513
Limerick$800$20020
Portland$890$49524
Bon Air$895$8509
Beechmont$900$69559
Churchill Downs$909$61943
Jacobs$930$7756
University$939$67535
Cloverleaf$950$580224
Fairgrounds$950$619222

Cheapest Available Louisville Apartments for Rent

 

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

Apartment ListingModel NameBed/BathPriced From
The Puritan Senior Living - 62 & OverStudioStudio,1BA$200
Yellowwood Terrace Affordable Senior HousingStandard1BR,1BA$200
5302 Milner Rd0 Beds, 1 BathsStudio,1BA$550
Lower Hunters Trace2 Bedroom2BR,1BA$580
Western Arms Apartment Homes (DBA)1BR/1.0BA1BR,1BA$695
1128 S. 3rd1BR/1.0BA1BR,1BA$695
Knox Landing1 Bed / 1 Bath1BR,1BA$700
800 Towers ApartmentsStudioStudio,1BA$719

Best Value Apartments for Rent in Louisville, KY

As of September 04, 2026 the best value apartment in the Louisville area is the $0.89 price per square foot 3 Bedroom 2 Bath Model at Knobs Pointe Apartments in the in the New Albany neighborhood starting from $1,425. The second greatest value Louisville apartment is the 2BR/1.0BA Model at 1390 S. 1st starting at $1,200 with a $0.83 price per square foot in the Phoenix Hill 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.
Knobs Pointe Apartments3 Bedroom 2 Bath3BR,2BA$0.89
1390 S. 1st2BR/1.0BA2BR,1BA$0.83
The Nine4x44BR,4BA$0.58
Brexx at LouisvilleBirchmore 2x22BR,2BA$0.80
2014 W Main St, Unit 1F2014 W Main St2BR,1BA$0.75
3108 Springfield Dr2 Bedroom2BR,1BA$0.88
4700 Walnut Grove Ave, Unit 14700 Walnut Grove Ave2BR,1BA$0.86
4700 Walnut Grove Avenue2BR/1.0BA2BR,1BA$0.86
Yellowwood Terrace Affordable Senior HousingStandard1BR,1BA$0.34
The Puritan Senior Living - 62 & OverStudioStudio ,1BA$0.44

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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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!

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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 $1,267.

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 2,278 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 $445 which is $822 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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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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First Apartment Regrets: Real Renters Share What They'd Do Differently

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Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.