Cheap Apartments for Rent in the Phoenix Hill Neighborhood of Louisville, KY from $400 (97 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Phoenix Hill 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.

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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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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

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property at 1051 Barret Ave

1051 Barret Ave

LouisvilleKY40204

Phoenix Hill - 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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Phoenix Hill, Louisville, KY Local Guide

Cheapest Available Phoenix Hill Apartments for Rent

 

The cheapest available apartment rental in the Phoenix Hill 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 Phoenix Hill 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
The QuadStudio – 1 BathroomStudio,1BA$795
Vue at 3rd StreetStudioStudio,1BA$799
The Cornerstone1 Bedroom1BR,1BA$800
AVIA North ShoreStudiosStudio,1BA$849
Germantown Village Apartments1 Bedrooms1BR,1BA$859

Best Value Apartments for Rent in Phoenix Hill, KY

As of June 26, 2025 the best value apartment in the Phoenix Hill 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 Phoenix Hill 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 Phoenix Hill 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
1524 S 4th St3 Beds, 1.5 Baths3BR,1.5BA$1.14
Gateway on BroadwayOne Bedroom1BR,1BA$0.50
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
Derby Row | Student HousingThoroughbred2BR,2BA$0.98
M. Fine on Spring1BT131BR,1BA$0.68
The Cornerstone1 Bedroom1BR,1BA$1.14
200 N 18th St, Unit 1200 N 18th St1BR,1BA$1.10

Quick Rent Budget Calculator

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Lifestyle Ratings

ApartmentHomeLiving.com is happy to bring you Lifestyle Ratings of rentals in cities across the United States, including Louisville. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including rankings of the best places for proximity to parks, luxury amenities, pet-friendly features, family-friendliness, proximity to transit, in addition to floorplans, availablity, and pricing. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Getting Around the Phoenix Hill Neighborhood in Louisville, KY

Walk Score®

81 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

73 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

57 / 100

Good Transit

Many nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Phoenix Hill Apartments

What is a cheap apartment in Phoenix Hill?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Phoenix Hill is under $859.

What is the price of a cheap apartment in Phoenix Hill?

The cheapest apartment in Phoenix Hill is Gateway on Broadway which is listed at $542, while the average apartment in Phoenix Hill costs $4,200.

What types of apartments are the cheapest in Phoenix Hill?

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 82 regular apartments in Phoenix Hill 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 Phoenix Hill?

Cheap apartments in Phoenix Hill have an average cost of $193 which is $4,007 cheaper than the average rent for all rentals in Phoenix Hill.

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.

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 Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

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.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

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.

decorative image for Know Your Budget: Calculating What You Can Realistically Afford When Renting article

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.