Cheap Apartments for Rent in the Old Louisville Neighborhood of Louisville, KY from $500 (55 Rentals)

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

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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The St. Francis Apartments
Rent Specials
$852 - $1,260
Total Monthly Price

Total Monthly Price

Base Rent
$852 - $1,260
Total Monthly Price
$852 - $1,260
Studio to 2 Bedroom Apartments Available Now

The St. Francis Apartments

233 W BroadwayLouisville, KY 40202
Affordability
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  • Customer Reviewed
  • Utilities Included
property at 1702 S 2nd St

$875 - $1,100

1 To 2 Bedroom Rentals

Available Now

1702 S 2nd St

LouisvilleKY40208

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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1026 S 4th St
Studio to 2 Bedroom Apartments

1026 S 4th St

1026 S 4th StLouisville, KY 40203
  • Utilities Included

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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1337 S 4th St
Studio to 2 Bedroom Apartments

1337 S 4th St

1337 S 4th StLouisville, KY 40208
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Mayflower Apartments
Studio to 3 Bedroom Apartments

Mayflower Apartments

425 W Ormsby AveLouisville, KY 40203
  • Utilities Included
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431 Kensington Ct
1 Bedroom Apartments

431 Kensington Ct

431 Kensington CtLouisville, KY 40208
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Cavalier Apartments
1 to 2 Bedroom Apartments

Cavalier Apartments

1245 S 4th StLouisville, KY 40203
Student Housing
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1386 S 3rd St
1 to 2 Bedroom Apartments

1386 S 3rd St

1386 S 3rd StLouisville, KY 40208
Student Housing
  • Utilities Included
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Friendship House - Age 62+
Studio to 1 Bedroom Apartments

Friendship House - Age 62+

960 S 4th StLouisville, KY 40203
Senior Living
  • Utilities Included

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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947 S Brook St
1 Bedroom Apartments

947 S Brook St

947 S Brook StLouisville, KY 40203
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329 E Oak St
1 to 2 Bedroom Apartments

329 E Oak St

329 E Oak StLouisville, KY 40203
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747 S 5th St
1 to 2 Bedroom Apartments

747 S 5th St

747 S 5th StLouisville, KY 40203
  • Utilities Included
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Wellesley Townhouses
2 Bedroom Apartments

Wellesley Townhouses

1600 S 2nd StLouisville, KY 40208
  • Utilities Included
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1202 S 3rd St
Studio to 2 Bedroom Apartments

1202 S 3rd St

1202 S 3rd StLouisville, KY 40203
Student Housing
  • Utilities Included
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Urban Flats
1 to 2 Bedroom Apartments

Urban Flats

735 S 2nd StLouisville, KY 40202
  • Utilities Included
property at 409 W Gaulbert Ave

$1,100

Total Monthly Price

Total Monthly Price

Base Rent
$1,100
Total Monthly Price
$1,100

2 Bedroom, 1 Bath Home for Rent

Available Now

409 W Gaulbert Ave

LouisvilleKY40208

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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Old Louisville, Louisville, KY Local Guide

Cheapest Available Old Louisville Apartments for Rent

 

The cheapest available apartment rental in the Old Louisville area of Louisville, KY is a Studio unit found at The Puritan Senior Living - 62 & Over priced from $200. Lofts on Ormsby has the second lowest priced unit, which is a Studio apartment currently listed from $700. Here are the most affordable Old Louisville apartments for rent in Louisville, KY:

Apartment ListingModel NameBed/BathPriced From
The Puritan Senior Living - 62 & OverStudioStudio,1BA$200
Lofts on OrmsbyStudioStudio,1BA$700
800 Towers ApartmentsStudioStudio,1BA$715
Old Louisville - 1219 S 6th StS6th01Studio,1BA$795
Crescent Centre Apartments & TownhomesOne Bedroom-699 sqft1BR,1BA$895
Cardinal Village Apartments1x1 with Balcony1BR,1BA$899
The Cornerstone1 Bedroom1BR,1BA$900
947 S Brook St1/11BR,1BA$900
329 E Oak St1/11BR,1BA$900

Best Value Apartments for Rent in Old Louisville, KY

As of June 09, 2026 the best value apartment in the Old Louisville area is the $1.00 price per square foot 1461 S 1st St Model at 1461 S 1st St, Unit Apt 2 in the in the Phoenix Hill neighborhood starting from $1,300. The second greatest value Old Louisville apartment is the 402 W Hill St Model at 402 W Hill St, Unit 404 starting at $1,450 with a $1.26 price per square foot in the Phoenix Hill neighborhood. Here is today’s list of the best values for Old Louisville apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1461 S 1st St, Unit Apt 21461 S 1st St2BR,1BA$1.00
402 W Hill St, Unit 404402 W Hill St3BR,1.5BA$1.26
1436 S 3rd St1436 S 3rd St2BR,2BA$1.07
The Province (KY)2 Bed - 2 Bath2BR,2BA$1.01
The St. Francis Apartments2BR2BA2BR,2BA$1.46
216 W Burnett Ave, Unit 226B216 W Burnett Ave2BR,1BA$1.35
The Cornerstone1 Bedroom1BR,1BA$1.29
947 S Brook St1/11BR,1BA$1.44
Crescent Centre Apartments & TownhomesOne Bedroom-615 sqft1BR,1BA$1.51
800 Towers ApartmentsStudioStudio ,1BA$1.18

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 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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Quick Rent Budget Calculator

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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Lifestyle Ratings

Our team of engineers and researchers is proud to bring you comprehensive Lifestyle Ratings of rentals and neighborhoods across the USA, including Louisville. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including searching for the best amenities, and outdoor amenities like tennis courts, kid and pet-friendly communities, availability of transit options, walking, and biking. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Old Louisville Apartments

What is a cheap apartment in Old Louisville?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Old Louisville is under $900.

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

The cheapest apartment in Old Louisville is 800 Towers Apartments which is listed at $792, while the average apartment in Old Louisville costs $1,412.

What types of apartments are the cheapest in Old 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 17 regular apartments in Old 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 Old Louisville?

Cheap apartments in Old Louisville have an average cost of $189 which is $1,223 cheaper than the average rent for all rentals in Old 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

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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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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

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.