Cheap Homes for Rent in Downtown Louisville Neighborhood of Louisville, KY from $500 (89 Rentals)

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Search the lowest-cost Homes 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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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 1417 S 3rd St

1417 S 3rd St

LouisvilleKY40208

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
Iroquois Green1 Bedroom - With Balcony1BR,1BA$735
Heritage Green ApartmentsThe Single1BR,1BA$754
The QuadStudio – 1 BathroomStudio,1BA$795

Best Value Apartments for Rent in Downtown Louisville, KY

As of June 13, 2025 the best value apartment in the Downtown Louisville area is the $1.05 price per square foot 1445 S 3rd St Model at 1445 S 3rd St, Unit 7 in the in the Phoenix Hill neighborhood starting from $4,200. The second greatest value Downtown Louisville apartment is the 2 bedroom Model at Big 4 Station Residence starting at $1,150 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.
1445 S 3rd St, Unit 71445 S 3rd St6BR,3BA$1.05
Big 4 Station Residence2 bedroom2BR,1BA$1.05
Gateway on BroadwayOne Bedroom1BR,1BA$0.50
1308 S 6th St, Unit 21308 S 6th St1BR,1BA$1.10
By the ParkTwo bedroom2BR,1BA$0.93
500 W Saint Catherine St, Unit 1500 W Saint Catherine St2BR,1BA$1.10
1816 W Jefferson St, Unit 31816 W Jefferson St2BR,1BA$1.06
Yugo Louisville Nine2 Bed, 2 Bath Classic Pool View2BR,2BA$1.05
M. Fine on Spring1BT131BR,1BA$0.68
200 N 18th St, Unit 1200 N 18th St1BR,1BA$1.10

Quick Rent Budget Calculator

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Frequently Asked Questions about Downtown Louisville

What type of rentals are currently available in Downtown Louisville?

There are currently 1025 Apartments for Rent in Downtown Louisville, KY with pricing that ranges from $200 to $8,940. There are also 240 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Louisville ranging from $525 to $8,750.

What is the current price range for Rental Homes in Downtown Louisville?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Louisville ranges from $525 to $8,750 with an average monthly rent of $1,702.

How much are larger Three and Four Bedroom Rentals in Downtown Louisville?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Louisville range from $675 to $6,270, while Three Bedroom Homes, Condos, and Townhomes for rent range from $895 to $3,000. Four Bedroom Single-Family rentals are also available starting from $910 and Four Bedroom Apartments start at $535.

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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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.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.