Cheap Apartments for Rent in the Downtown Louisville Neighborhood of Louisville, KY from $400 (183 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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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 730 Hazel St

$785 - $1,400

1 To 3 Bedroom Rentals

Available Now

730 Hazel St

LouisvilleKY40211

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 319 W Lee St

$850 - $1,400

1 To 2 Bedroom Rentals

Available Now

319 W Lee St

LouisvilleKY40208
property at 1503 S 4th St

$795 - $850

1 Bedroom Rentals

Available Now

1503 S 4th St

LouisvilleKY40208

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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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. Gateway on Broadway has the second lowest priced unit, which is a 2 Beds apartment currently listed from $542. 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
Gateway on BroadwayTwo Bedroom2BR,1BA$542
Vue at 3rd StreetStudioStudio,1BA$699
Iroquois Green1 Bedroom - Garden Level1BR,1BA$755
800 Towers ApartmentsStudioStudio,1BA$765
Lofts on OrmsbyStudioStudio,1BA$775
Chapel House Senior Apartments - Age 62+StudioStudio,1BA$776

Best Value Apartments for Rent in Downtown Louisville, KY

As of January 22, 2026 the best value apartment in the Downtown Louisville area is the $0.52 price per square foot 4 Bed, 4 Bath Classic Pool View Model at Yugo Louisville Nine in the in the Downtown Louisville neighborhood starting from $729. The second greatest value Downtown Louisville apartment is the 3 bedroom Model at Big 4 Station Residence starting at $1,295 with a $1.04 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.
Yugo Louisville Nine4 Bed, 4 Bath Classic Pool View4BR,4BA$0.52
Big 4 Station Residence3 bedroom3BR,1BA$1.04
1646 Lucia Ave, Unit apt 41646 Lucia Ave2BR,1BA$1.00
2101 Saint Xavier St, Unit 1F2101 Saint Xavier St3BR,1BA$0.81
Gateway on BroadwayOne Bedroom1BR,1BA$0.50
535 E Kentucky St, Unit 2F535 E Kentucky St2BR,1BA$0.85
By the ParkTwo bedroom2BR,1BA$0.93
The Province (KY)2 Bed - 2 Bath2BR,2BA$1.01
1743 Sonne Ave, Unit Apt. #21743 Sonne Ave2BR,1BA$0.97
841 Beecher St, Unit B841 Beecher St2BR,1BA$0.99

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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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 $776.

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 $1,278.

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 124 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 $292 which is $986 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.

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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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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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.