Cheap Apartments for Rent in the Old Louisville Neighborhood of Louisville, KY from $500 (34 Rentals)

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

property at 1144 S 3rd St

1144 S 3rd St

LouisvilleKY40203

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.

property at 1215 S 1st St

1215 S 1st St

LouisvilleKY40203

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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1026 S 4th St
Studio to 2 Bedroom Apartments

1026 S 4th St

1026 S 4th StLouisville, KY 40203
  • Utilities Included
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1337 S 4th St
Studio to 2 Bedroom Apartments

1337 S 4th St

1337 S 4th StLouisville, KY 40208

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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Mayflower Apartments
Studio Apartments

Mayflower Apartments

425 W Ormsby AveLouisville, KY 40203
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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
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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

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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747 S 5th St
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

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. Yugo Louisville Nine has the second lowest priced unit, which is a 4 Beds apartment currently listed from $709. 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
Yugo Louisville Nine4 Bed, 4 Bath Classic Balcony4BR,4BA$709
Vue at 3rd StreetStudioStudio,1BA$799
The Cornerstone1 Bedroom1BR,1BA$800
Lofts on Ormsby1 Bedroom 1 Bath1BR,1BA$850
800 Towers ApartmentsStudioStudio,1BA$865
The St. Francis Apartments1BR1BA1BR,1BA$890
Cardinal Village Apartments1x1 Lower Level1BR,1BA$910
Crescent Centre Apartments & TownhomesOne Bedroom-699 sqft1BR,1BA$920
Flats on FifthThe Volstead1BR,1BA$957

Best Value Apartments for Rent in Old Louisville, KY

As of June 17, 2025 the best value apartment in the Old 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 Old Louisville apartment is the 3 Beds, 1.5 Baths Model at 1524 S 4th St starting at $1,250 with a $1.14 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.
1445 S 3rd St, Unit 71445 S 3rd St6BR,3BA$1.05
1524 S 4th St3 Beds, 1.5 Baths3BR,1.5BA$1.14
500 W Saint Catherine St, Unit 1500 W Saint Catherine St2BR,1BA$1.10
1308 S 6th St, Unit 21308 S 6th St1BR,1BA$1.10
215 W Burnett Ave, Unit First Floor One Bedroom215 W Burnett Ave1BR,1BA$1.33
Yugo Louisville Nine2 Bed, 2 Bath Classic Pool View2BR,2BA$1.05
Derby Row | Student HousingBelmont2BR,2BA$1.22
226 W Burnett Ave, Unit 218226 W Burnett Ave2BR,1BA$1.33
The Cornerstone1 Bedroom1BR,1BA$1.14
The St. Francis Apartments1BR1BA1BR,1BA$1.32

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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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!

Getting Around the Old Louisville Neighborhood in Louisville, KY

Walk Score®

81 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

87 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

52 / 100

Good Transit

Many nearby public transportation options

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 $957.

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

The cheapest apartment in Old Louisville is The Cornerstone which is listed at $800, while the average apartment in Old Louisville costs $4,200.

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 6 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 $238 which is $3,962 cheaper than the average rent for all rentals in Old Louisville.

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.