Cheap Apartments for Rent in the Phoenix Hill Neighborhood of Louisville, KY from $455 (148 Rentals)

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

property at 1733 S 3rd St
$725
1 Bedroom Rentals
Available Now
Affordability

1733 S 3rd St

LouisvilleKY40208

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property at 1361 S Brook St
$850 - $995
1 To 2 Bedroom Rentals
Available Now
Affordability

1361 S Brook St

LouisvilleKY40208

Rent According to Income: A Look at Income-Restricted Rentals

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property at 1412 S 2nd St
$895
1 Bedroom, 1 Bath Home for Rent
Available Now
Affordability

1412 S 2nd St

LouisvilleKY40208
property at 1917 Frankfort Ave
$925
1 Bedroom, 1 Bath Home for Rent
Available Now
Affordability

1917 Frankfort Ave

LouisvilleKY40206
property at 952 S Floyd St
$925
1 Bedroom Rentals
Available Now
Affordability

952 S Floyd St

LouisvilleKY40203

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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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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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

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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. 1128 S. 3rd has the second lowest priced unit, which is a 1 Bed apartment currently listed from $695. 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
1128 S. 3rd1BR/1.0BA1BR, 1BA$695
800 Towers ApartmentsStudioStudio, 1BA$715
629 W. Ormsby1BR/1.0BA1BR, 1BA$750
1388 S 2nd1BR/1.0BA1BR, 1BA$755
1345 South 3rd Street1BR/1.0BA1BR, 1BA$780
1459 Saint James Court1BR/1.0BA1BR, 1BA$795
Old Louisville - 1219 S 6th StS6th01Studio, 1BA$795
1215 S. 4th St1BR/1.0BA1BR, 1BA$795

Best Value Apartments for Rent in Phoenix Hill, KY

As of September 19, 2026 the best value apartment in the Phoenix Hill area is the $0.83 price per square foot 2BR/1.0BA Model at 1390 S. 1st in the Phoenix Hill neighborhood starting from $1,200. The second greatest value Phoenix Hill apartment is the EP4 Model at Edison Park in the Medical Center neighborhood starting at $1,300 with a $1.08 price per square foot. 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.
1390 S. 1st2BR/1.0BA2BR, 1BA$0.83
Edison ParkEP41BR, 1.5BA$1.08
1436 S 3rd St, Unit #11436 S 3rd St1BR, 1BA$1.03
1600 S 3rd St, Unit 1600 S. 3RD St. #11600 S 3rd St1BR, 1BA$1.07
GHP 12-1226 S. Second2BR/1.0BA2BR, 1BA$1.09
Derby Row | Student HousingThoroughbred2BR, 2BA$1.09
1233 S 2nd St1BR/1.0BA1BR, 1BA$1.03
200 N 18th St, Unit 200 N 18th St200 N 18th St2BR, 1BA$1.01
1128 S. 3rd0BR/1.0BAStudio, 1BA$1.07
The Puritan Senior Living - 62 & OverStudioStudio, 1BA$0.44

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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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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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

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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

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!

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 $795.

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

The cheapest apartment in Phoenix Hill is 1128 S. 3rd which is listed at $695, while the average apartment in Phoenix Hill costs $1,315.

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 146 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 $348 which is $967 cheaper than the average rent for all rentals in Phoenix Hill.

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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Bourbon, Baseball, and the Blues: Your Insider's Guide to Louisville, Kentucky

Written by: Mike Heuer

Louisville is one great city in which to visit, live, work, and raise a family. It has excellent and reasonably affordable housing, great neighborhoods, and a whole lot more to offer its residents and visitors alike.

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

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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.

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Louisville is a terrific location to get an advanced education at one of its many great colleges and universities.

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