Cheap Apartments for Rent in Louisville, KY from $300 (692 Rentals)

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

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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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 319 W Lee St

$725 - $1,400

1 To 2 Bedroom Rentals

Available Now

319 W Lee St

LouisvilleKY40208

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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property at 730 Hazel St

$785 - $1,400

1 To 3 Bedroom Rentals

Available Now

730 Hazel St

LouisvilleKY40211

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.

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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: 12/27/2025

Current apartment rentals in the Louisville, KY area range in price from $200 to $15,616 with an overall median price of $2,432. The three Louisville neighborhoods with the lowest median rent pricing are Shawnee at $1,017, Deer Park at $799, and Prestonia at $599. 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$1,017$1,0171
Deer Park$1,099$79914
Prestonia$1,099$59977
Bradley$1,100$20099
Churchill Downs$1,129$59929
Old Louisville$1,130$20076
University$1,130$62517
Bon Air$1,148$8389
Seneca Gardens$1,185$70068
Iroquois Park$1,199$69991

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
Gateway on BroadwayTwo Bedroom2BR,1BA$542
The Crossings at Mill Creek2 Bedroom2BR,2BA$569
Bridlewood Crossing1 Bedroom1BR,1BA$690
1743 Culbertson Ave1 Beds, 1 Baths1BR,1BA$697
Vue at 3rd StreetStudioStudio,1BA$699
Southwood1 Bed, 1 bath1BR,1BA$699

Best Value Apartments for Rent in Louisville, KY

As of December 27, 2025 the best value apartment in the Louisville area is the $0.87 price per square foot 3 Bedroom + 2 Bath Model at Aberdeen Woods Phase 1-7 in the in the Oak Park neighborhood starting from $1,376. The second greatest value Louisville apartment is the 4 Bed, 4 Bath Classic Pool View Model at Yugo Louisville Nine starting at $729 with a $0.52 price per square foot in the Downtown Louisville 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.
Aberdeen Woods Phase 1-73 Bedroom + 2 Bath3BR,2BA$0.87
Yugo Louisville Nine4 Bed, 4 Bath Classic Pool View4BR,4BA$0.52
Olde Towne VillageLyndon2BR,1.5BA$0.75
2101 Saint Xavier St, Unit 1F2101 Saint Xavier St3BR,1BA$0.81
Bristol Bluffs Lp3 Beds 2 Baths3BR,2BA$0.71
Rolling HillsThe Splendor1BR,1BA$0.88
Gateway on BroadwayOne Bedroom1BR,1BA$0.50
Finish Line ApartmentsThe Paddock2BR,2BA$0.87
535 E Kentucky St, Unit 2F535 E Kentucky St2BR,1BA$0.85
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 Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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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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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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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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See the most popular apartments and homes in Louisville, KY

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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 $699.

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 $2,432.

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 2,609 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 $411 which is $2,021 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.

Articles, How-To's, and Tips

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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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How to Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.