Cheap Apartments for Rent in the Downtown Louisville Neighborhood of Louisville, KY from $400 (179 Rentals)

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

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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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property at 4113 S 3rd St

4113 S 3rd St

LouisvilleKY40214
property at 1829 S 3rd St

1829 S 3rd St

LouisvilleKY40208

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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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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property at 1051 Barret Ave

1051 Barret Ave

LouisvilleKY40204

Downtown Louisville - One of the Best Affordable Neighborhoods in Louisville

Named as one of the Best Affordable Neighborhoods to rent in Louisville by our Louisville, KY Local Expert Mike Heuer. See how it ranks!

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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
Yugo Louisville Nine4 Bed, 4 Bath Classic Balcony4BR,4BA$709
Lofts on OrmsbyStudioStudio,1BA$725
Heritage Green ApartmentsThe Single1BR,1BA$754
The QuadStudio – 1 BathroomStudio,1BA$795
Vue at 3rd StreetStudioStudio,1BA$799
Carpenter Apartments1 Bedroom1BR,1BA$820
Poplar TerraceStudioStudio,1BA$839

Best Value Apartments for Rent in Downtown Louisville, KY

As of July 30, 2025 the best value apartment in the Downtown Louisville area is the $1.00 price per square foot 3 Bedroom Model at The Cornerstone in the in the Medical Center neighborhood starting from $1,200. The second greatest value Downtown Louisville apartment is the 2B2BT17HC Model at M. Fine on Spring starting at $700 with a $0.63 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 Cornerstone3 Bedroom3BR,1BA$1.00
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
816-818 Rubel AveThree Bedroom3BR,1BA$0.58
3682 Craig Ave, Unit 3682 Craig Ave unit 33682 Craig Ave2BR,1BA$1.05
526 Locher Aly, Unit 204526 Locher Aly3BR,1BA$0.94
Yugo Louisville Nine2 Bed, 2 Bath Classic Pool View2BR,2BA$1.05
Derby Row | Student HousingThoroughbred2BR,2BA$1.00

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 $839.

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 $3,600.

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 110 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 $226 which is $3,374 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.

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

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

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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.

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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.