Cheap Apartments for Rent in the Downtown Louisville Neighborhood of Louisville, KY from $400 (310 Rentals)

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

property at 1309 Dixie Hwy

$500 - $600

1 Bedroom Rentals

Available Now

1309 Dixie Hwy

LouisvilleKY40210

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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property at 1349 Olive St

$650 - $695

1 Bedroom Rentals

Available Now

1349 Olive St

LouisvilleKY40211
property at 2718 W Jefferson St

$699

Total Monthly Price

Total Monthly Price

Base Rent
$699
Total Monthly Price
$699

1 Bedroom, 1 Bath Home for Rent

Available Now

2718 W Jefferson St

LouisvilleKY40212

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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property at 2925 Slevin St

$775

Total Monthly Price

Total Monthly Price

Base Rent
$775
Total Monthly Price
$775

2 Bedroom, 1 Bath Home for Rent

Available Now

2925 Slevin St

LouisvilleKY40212

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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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 316 N 22nd St

$795 - $875

1 To 2 Bedroom Rentals

Available Now

316 N 22nd St

LouisvilleKY40212
property at 725 S 16th St

$800

2 Bedroom Rentals

Available Now

725 S 16th St

LouisvilleKY40210

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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Downtown Louisville, Louisville, KY Local Guide

Cheapest Available Downtown Louisville Apartments for Rent

 

The cheapest available apartment rental in the Downtown Louisville area of Louisville, KY is a Studio unit found at The Puritan Senior Living - 62 & Over priced from $200. The Prestonian has the second lowest priced unit, which is a 1 Bed apartment currently listed from $543. Here are the most affordable Downtown Louisville apartments for rent in Louisville, KY:

Apartment ListingModel NameBed/BathPriced From
The Puritan Senior Living - 62 & OverStudioStudio,1BA$200
The Prestonian1A1BR,1BA$543
Lofts on OrmsbyStudioStudio,1BA$700
800 Towers ApartmentsStudioStudio,1BA$719
Iroquois Green1 Bedroom - Garden Level1BR,1BA$755
Old Louisville - 1219 S 6th StS6th01Studio,1BA$795

Best Value Apartments for Rent in Downtown Louisville, KY

As of June 24, 2026 the best value apartment in the Downtown Louisville area is the $0.67 price per square foot Birchmore 3x3 Model at The Brexx at Louisville in the in the Downtown Louisville neighborhood starting from $910. The second greatest value Downtown Louisville apartment is the Julep Model at Derby Row | Student Housing starting at $649 with a $0.51 price per square foot in the Phoenix Hill neighborhood. Here is today’s list of the best values for Downtown Louisville apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Brexx at LouisvilleBirchmore 3x33BR,3BA$0.67
Derby Row | Student HousingJulep4BR,4BA$0.51
Big 4 Station Residence3 bedroom3BR,1BA$1.04
By the ParkTwo bedroom2BR,1BA$0.93
2014 W Main St, Unit 1F2014 W Main St2BR,1BA$0.80
Furlong Apartments2 Bedroom/1Bath2BR,1BA$0.92
The Province (KY)2 Bed - 2 Bath2BR,2BA$1.01
100 N. 33rd St., Apt 3, Unit 3100 N. 33rd St., Apt 31BR,1BA$0.92
3149 Vermont Ave, Unit 3149 Vermont Ave3149 Vermont Ave2BR,1BA$0.99
200 N 18th St, Unit 200 N 18th St200 N 18th St2BR,1BA$1.05

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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Pet Friendly Lifestyle
Downtown Louisville, Louisville, KY

Ranked #15

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
Downtown Louisville, Louisville, KY

School data provided by Great Schools

Lifestyle Ratings

Our team of engineers and researchers compiles millions of data points to bring you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, and customized analysis for Central Louisville, KY. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including rankings of the best places for easy access to the parks, luxury amenities, pet-friendly features, places to raise kids, proximity to transit, and how walkable or bikeable each community and area is. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Downtown Louisville Apartments

What is a cheap apartment in Downtown Louisville?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Louisville is under $795.

What is the price of a cheap apartment in Downtown Louisville?

The cheapest apartment in Downtown Louisville is The Prestonian which is listed at $543, while the average apartment in Downtown Louisville costs $1,305.

What types of apartments are the cheapest in Downtown 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 137 regular apartments in Downtown 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 Downtown Louisville?

Cheap apartments in Downtown Louisville have an average cost of $462 which is $843 cheaper than the average rent for all rentals in Downtown 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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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 The Official Expert's Guide to the Top Neighborhoods in Louisville for College Renters article

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

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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.

decorative image for Bourbon, Baseball, and the Blues: Your Insiders Guide to Louisville, Kentucky article

Bourbon, Baseball, and the Blues: Your Insiders 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.

Articles, How-To's, and Tips

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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.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

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Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.