Cheap Homes for Rent in Louisville, KY from $400 (296 Rentals)

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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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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 714 S 42nd St

714 S 42nd St

LouisvilleKY40211

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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Louisville's Best Affordable Neighborhoods

Learn about Louisville with original content written by our Louisville, KY Local Expert, Mike Heuer

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Louisville, KY Local Guide

Cheapest Neighborhoods for Apartments in Louisville, KY

Pricing Updated: 07/29/2025

Current apartment rentals in the Louisville, KY area range in price from $200 to $6,980 with an overall median price of $2,125. The three Louisville neighborhoods with the lowest median rent pricing are Portland at $795, Chickasaw at $650, and Shawnee at $650. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Louisville Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Portland$1,072$7955
Chickasaw$1,100$65022
Shawnee$1,100$6502
Park Duvalle$1,130$65019
Masonic Home$1,235$9258
Russell$1,255$54213
East Russell$1,298$54277
Parkland$1,298$54292
West Russell$1,298$200109
Limerick$1,300$2007

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
Brookview GlenStudioStudio,1BA$378
M. Fine on Spring2BT52BR,1BA$418
Gateway on BroadwayTwo Bedroom2BR,1BA$542
Louisville 531 bedroom, 1 bath1BR,1BA$625
Yugo Louisville Nine4 Bed, 4 Bath Classic Balcony4BR,4BA$709
Lofts on OrmsbyStudioStudio,1BA$725
Serenity Court ApartmentsEfficiencyStudio,1BA$741
Willow RunStudioStudio,1BA$749

Best Value Apartments for Rent in Louisville, KY

As of July 29, 2025 the best value apartment in the Louisville area is the $0.85 price per square foot 3 Townhouse Model at Mayfair Apartment Homes in the in the Oak Park neighborhood starting from $1,359. The second greatest value Louisville apartment is the 2 Bedroom + 2 Bath Model at Aberdeen Woods Phase 1-7 starting at $936 with a $0.66 price per square foot in the Crystal Springs 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.
Mayfair Apartment Homes3 Townhouse3BR,1.5BA$0.85
Aberdeen Woods Phase 1-72 Bedroom + 2 Bath2BR,2BA$0.66
Olde Towne VillageWinton2BR,2BA$0.78
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
Kingsfield Luxury ApartmentsOne Bedroom1BR,1BA$0.94
Yellowwood Terrace Affordable Senior HousingStandard1BR,1BA$0.34

Quick Rent Budget Calculator

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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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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 2817 Apartments for Rent in Louisville, KY with pricing that ranges from $200 to $6,980. There are also 808 Single Family Homes for rent, Condos, and Townhome rentals currently available in Louisville ranging from $400 to $10,000.

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 $400 to $10,000 with an average monthly rent of $2,068.

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 $675 to $6,410, while Three Bedroom Homes, Condos, and Townhomes for rent range from $750 to $8,500. Four Bedroom Single-Family rentals are also available starting from $400 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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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.