Cheap Apartments for Rent in the Downtown Louisville Neighborhood of Louisville, KY from $400 (181 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Downtown Louisville area of 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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property at 4113 S 3rd St

4113 S 3rd St

LouisvilleKY40214

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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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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property at 730 M St

730 M St

LouisvilleKY40208

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 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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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. M. Fine on Spring has the second lowest priced unit, which is a 2 Beds apartment currently listed from $418. 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
M. Fine on Spring2BT52BR,1BA$418
Gateway on BroadwayTwo Bedroom2BR,1BA$542
Carpenter Apartments1 Bedroom1BR,1BA$795
Vue at 3rd StreetStudioStudio,1BA$799
Heritage Green ApartmentsThe Single1BR,1BA$829

Best Value Apartments for Rent in Downtown Louisville, KY

As of September 13, 2025 the best value apartment in the Downtown Louisville area is the $0.80 price per square foot 1458 S 3rd St Model at 1458 S 3rd St, Unit 1458 South 3rd Street in the in the Phoenix Hill neighborhood starting from $2,000. The second greatest value Downtown Louisville apartment is the 433 Park Ave Model at 433 Park Ave, Unit 1 starting at $1,800 with a $1.05 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.
1458 S 3rd St, Unit 1458 South 3rd Street1458 S 3rd St4BR,2BA$0.80
433 Park Ave, Unit 1433 Park Ave2BR,1BA$1.05
M. Fine on Spring2B2BT17HC2BR,2BA$0.63
2101 Saint Xavier St, Unit 1F2101 Saint Xavier St3BR,1BA$0.81
Gateway on BroadwayOne Bedroom1BR,1BA$0.50
By the ParkTwo bedroom2BR,1BA$0.93
Derby Row | Student HousingThoroughbred2BR,2BA$1.00
1743 Sonne Ave, Unit Apt. #21743 Sonne Ave2BR,1BA$1.00
2433 Slevin St, Unit 42433 Slevin St2BR,1BA$1.05
708 M St, Unit 3708 M StStudio ,1BA$0.83

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Downtown Louisville, Louisville, KY

Ranked #3

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 $829.

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

The cheapest apartment in Downtown Louisville is Gateway on Broadway which is listed at $542, while the average apartment in Downtown Louisville costs $1,280.

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 134 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 $319 which is $961 cheaper than the average rent for all rentals in Downtown 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.

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

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

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.