Cheap Apartments for Rent in Louisville, KY from $300 (665 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Apartments 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.

Read Article

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.

Read Article
property at 1144 S 3rd St

1144 S 3rd St

LouisvilleKY40203

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.

Read Article

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

Read Article

Louisville's Best Affordable Neighborhoods

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

Read Article
Showing Results 1-50, Page 1 of 14

Louisville, KY Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Louisville, KY

Pricing Updated: 06/19/2025

Current apartment rentals in the Louisville, KY area range in price from $200 to $7,890 with an overall median price of $2,194. The three Louisville neighborhoods with the lowest median rent pricing are Masonic Home at $925, Cherokee Seneca at $625, and Park Duvalle 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
Masonic Home$1,235$9258
Cherokee Seneca$1,295$62519
Park Duvalle$1,328$69562
Shawnee$1,375$6957
Standiford$1,383$53581
Riverside Gardens$1,390$75930
University$1,395$53588
Wilder Park$1,395$535162
Wyandotte$1,395$535165
Jacobs$1,399$67549

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 Southern Indiana 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
Brookview GlenStudioStudio,1BA$378
M. Fine on Spring2BT52BR,1BA$418
Gateway on BroadwayTwo Bedroom2BR,1BA$542
Louisville 532 bedroom, 1 bath2BR,1BA$650
Yugo Louisville Nine4 Bed, 4 Bath Classic Balcony4BR,4BA$709

Best Value Apartments for Rent in Louisville, KY

As of June 20, 2025 the best value apartment in the Louisville area is the $0.50 price per square foot One Bedroom Model at Gateway on Broadway in the in the Phoenix Hill neighborhood starting from $542. The second greatest value Louisville apartment is the 2 Bedroom 1 Bathroom Model at Huntley Ridge New Albany starting at $923 with a $0.92 price per square foot in the Downtown 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.
Gateway on BroadwayOne Bedroom1BR,1BA$0.50
Huntley Ridge New Albany2 Bedroom 1 Bathroom2BR,1BA$0.92
By the ParkTwo bedroom2BR,1BA$0.93
Huntley Ridge TownhomesNorfolk Townhome2BR,1.5BA$0.97
Stone Creek Apartments I & II2 Bed 1 Bath2BR,1BA$0.95
Olde Towne VillageAshton1BR,1BA$0.89
Bridgepointe Crossing2 br2BR,1.5BA$0.97
M. Fine on Spring1BT131BR,1BA$0.68
Yellowwood Terrace Affordable Senior HousingStandard1BR,1BA$0.34
Brookview GlenStudioStudio ,1BA$0.95

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.

decorative image of people with a giant lease agreement

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

Decorative image of map

See the most popular apartments and homes in Louisville, KY

View MapLouisville, KY Apartments MapView MapLouisville, KY Rental Homes Map

Getting Around Louisville, KY

Walk Score®

52 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

51 / 100

Bikeable

Some bike infrastructure

Transit Score®

30 / 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.

Louisville, KY Area Reviews

  • Parks
  • Entertainment
  • Local Vibes
  • Restaurants
  • Location
  • Traffic
  • Public Transportation
  • Outdoor Access
  • Cost of Living
  • Safety

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 $709.

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 $2,194.

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 2,421 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 $352 which is $1,842 cheaper than the average rent for all rentals in Louisville.

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.

decorative image for The 10 Best Affordable Neighborhoods for Renting in Louisville, KY article

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.

decorative image for Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

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.

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

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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

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.