Cheap Homes for Rent in Louisville, KY from $500 (209 Rentals)

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Search the lowest-cost Homes available for rent right now in Louisville.

property at 3507 Wexford Dr

$575

Total Monthly Price

Total Monthly Price

Base Rent
$575
Total Monthly Price
$575

1 Bedroom, 1 Bath Home for Rent

Available Aug 15

3507 Wexford Dr

LouisvilleKY40218

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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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 421 S 27th St

$850

Total Monthly Price

Total Monthly Price

Base Rent
$850
Total Monthly Price
$850

2 Bedroom, 1 Bath Home for Rent

Available Now

421 S 27th St

LouisvilleKY40212
property at 2300 W Madison St

$850

Total Monthly Price

Total Monthly Price

Base Rent
$850
Total Monthly Price
$850

2 Bedroom, 1 Bath Home for Rent

Available Now

2300 W Madison St

LouisvilleKY40211

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 2317 Ratcliffe Ave

$895

Total Monthly Price

Total Monthly Price

Base Rent
$895
Total Monthly Price
$895

2 Bedroom, 1 Bath Home for Rent

Available Now

2317 Ratcliffe Ave

LouisvilleKY40210

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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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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Showing Results 1-50, Page 1 of 5

Louisville, KY Local Guide

Cheapest Neighborhoods for Apartments in Louisville, KY

Pricing Updated: 04/25/2026

Current apartment rentals in the Louisville, KY area range in price from $200 to $13,141 with an overall median price of $2,245. The three Louisville neighborhoods with the lowest median rent pricing are Churchill Downs at $629, University at $707, and Standiford at $695. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Louisville Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Churchill Downs$989$62935
University$989$70727
Standiford$1,060$69531
Bradley$1,100$200107
Prestonia$1,130$62985
Audubon$1,180$200116
Deer Park$1,195$79915
Fairgrounds$1,200$629193
Saint Joseph$1,200$200308
Shively$1,200$573176

Cheapest Available Louisville Apartments for Rent

 

The cheapest available apartment rental in Louisville, KY is a Studio unit found at The Puritan Senior Living - 62 & Over in the Phoenix Hill neighborhood priced from $200. Yellowwood Terrace Affordable Senior Housing in the Southern Indiana neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $200. Here is today’s list of the most affordable Louisville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Puritan Senior Living - 62 & OverStudioStudio,1BA$200
Yellowwood Terrace Affordable Senior HousingStandard1BR,1BA$200
Gateway on BroadwayTwo Bedroom2BR,1BA$542
Crossings at Mill Creek2 Bedroom2BR,2BA$573
Brookview GlenStudioStudio,1BA$699
Vue at 3rd StreetStudioStudio,1BA$699
Lofts on OrmsbyStudioStudio,1BA$700

Best Value Apartments for Rent in Louisville, KY

As of April 26, 2026 the best value apartment in the Louisville area is the $0.89 price per square foot 2 Bedroom, 2 Bathroom Extended Model at Hunters Run in the in the South Louisville neighborhood starting from $1,125. The second greatest value Louisville apartment is the One Bedroom Model at Gateway on Broadway starting at $542 with a $0.50 price per square foot in the Phoenix Hill neighborhood. Here is today’s list of the best values for Louisville apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Hunters Run2 Bedroom, 2 Bathroom Extended2BR,2BA$0.89
Gateway on BroadwayOne Bedroom1BR,1BA$0.50
Huntley Ridge Clarksville2 Bedroom 1.5 Bathroom Townhome2BR,1.5BA$0.97
535 E Kentucky St, Unit 2F535 E Kentucky St2BR,1BA$0.85
By the ParkTwo bedroom2BR,1BA$0.93
Huntley Ridge TownhomesNorfolk Townhome2BR,1.5BA$0.94
Kingsfield Luxury ApartmentsOne Bedroom1BR,1BA$0.94
Furlong Apartments2 Bedroom/1Bath2BR,1BA$0.92
Broadleaf ArmsOne Bedroom One Bathroom1BR,1BA$0.96
Yellowwood Terrace Affordable Senior HousingStandard1BR,1BA$0.34

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Louisville, KY Rentals by Map

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Louisville, KY Area Reviews

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Frequently Asked Questions about Louisville

What type of rentals are currently available in Louisville?

There are currently 2848 Apartments for Rent in Louisville, KY with pricing that ranges from $200 to $13,141. There are also 652 Single Family Homes for rent, Condos, and Townhome rentals currently available in Louisville ranging from $575 to $9,500.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Louisville ranges from $575 to $9,500 with an average monthly rent of $1,670.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Louisville range from $707 to $7,079, while Three Bedroom Homes, Condos, and Townhomes for rent range from $710 to $8,000. Four Bedroom Single-Family rentals are also available starting from $900 and Four Bedroom Apartments start at $629.

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 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.

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

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.

Articles, How-To's, and Tips

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

decorative image for 18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property article

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.