Cheap Apartments for Rent in the Downtown Louisville Neighborhood of Louisville, KY from $455 (308 Rentals)

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

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2431 Saint Xavier St, Unit 3
$675

Total Monthly Price

Base Rent$675
Total Monthly Price$675
1 Bedroom Apartment Available Now

2431 Saint Xavier St, Unit 3

2431 Saint Xavier StLouisville, KY 40212
Affordability
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property at 655 S 27th St
$699

Total Monthly Price

Base Rent$699
Total Monthly Price$699
2 Bedroom, 1 Bath Home for Rent
Available Now
Cost Per Sq.Ft.

655 S 27th St

LouisvilleKY40211
  • Smoke Free

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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property at 1733 S 3rd St
$725
1 Bedroom Rentals
Available Now
Affordability

1733 S 3rd St

LouisvilleKY40208

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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property at 519 N 20th St
$750 - $950
1 To 2 Bedroom Rentals
Available Now
Affordability

519 N 20th St

LouisvilleKY40203
property at 730 Brookline Ave
$750 - $930
1 Bedroom Rentals
Available Now
Cost Per Sq.Ft.

730 Brookline Ave

LouisvilleKY40214

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

Stop driving and start living! We highlight the best Louisville neighborhoods—from Beechmont to Audubon Park—with great rentals near top job providers.

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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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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

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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. 1128 S. 3rd has the second lowest priced unit, which is a 1 Bed apartment currently listed from $695. 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
1128 S. 3rd1BR/1.0BA1BR, 1BA$695
800 Towers ApartmentsStudioStudio, 1BA$719
629 W. Ormsby1BR/1.0BA1BR, 1BA$750

Best Value Apartments for Rent in Downtown Louisville, KY

As of September 25, 2026 the best value apartment in the Downtown Louisville area is the $1.02 price per square foot 4002 Southern Pky Model at 4002 Southern Pky, Unit 1 in the Downtown Louisville neighborhood starting from $1,525. The second greatest value Downtown Louisville apartment is the Birchmore 2x2 Model at Brexx at Louisville in the Downtown Louisville neighborhood starting at $999 with a $0.79 price per square foot. 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.
4002 Southern Pky, Unit 14002 Southern Pky3BR, 1.5BA$1.02
Brexx at LouisvilleBirchmore 2x22BR, 2BA$0.79
2014 W Main St, Unit 1F2014 W Main St2BR, 1BA$0.75
By the ParkTwo bedroom2BR, 1BA$0.93
214 W Collins Ct, Unit 1 br apartment214 W Collins Ct1BR, 1BA$0.86
1436 S 3rd St, Unit #11436 S 3rd St1BR, 1BA$1.03
3149 Vermont Ave, Unit 43149 Vermont Ave2BR, 1BA$1.00
200 N 18th St, Unit 200 N 18th St200 N 18th St2BR, 1BA$1.01
3124 Vermont Ave, Unit 13124 Vermont Ave1BR, 1BA$1.00
The Puritan Senior Living - 62 & OverStudioStudio, 1BA$0.44

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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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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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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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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Pet Friendly Lifestyle
Downtown Louisville, Louisville, KY

Ranked #4

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 $750.

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

The cheapest apartment in Downtown Louisville is 1128 S. 3rd which is listed at $695, while the average apartment in Downtown Louisville costs $1,200.

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 219 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 $502 which is $698 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

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

Bourbon, Baseball, and the Blues: Your Insider's 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.

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

Written by: Mike Heuer

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 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.

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.

Articles, How-To's, and Tips

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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

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How Commercial-to-Residential Property Conversions Help the Housing Crisis

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Many housing markets throughout America share a common complaint: a lack of affordable rental properties.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

Written by: Robin Stewart

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.