Cheap Apartments for Rent in the Phoenix Hill Neighborhood of Louisville, KY from $400 (122 Rentals)

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

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property at 725 S 16th St

$800

2 Bedroom Rentals

Available Now

725 S 16th St

LouisvilleKY40210
property at 1204 Lexington Rd

$850

Total Monthly Price

Total Monthly Price

Base Rent
$850
Total Monthly Price
$850

1 Bedroom, 1 Bath Home for Rent

Available Now

1204 Lexington Rd

LouisvilleKY40204

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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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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. 800 Towers Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $719. 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
800 Towers ApartmentsStudioStudio,1BA$719
Old Louisville - 1219 S 6th StS6th01Studio,1BA$795
AVIA North ShoreStudioStudio,1BA$799
Lofts on OrmsbyStudioStudio,1BA$800
The Quad0BR/1.0BAStudio,1BA$825
Germantown Village Apartments1 Bedroom1BR,1BA$849
The St. Francis ApartmentsStudioStudio,1BA$852
Beecher Terrace Phase II (0680)1 Bedroom*1BR,1BA$861

Best Value Apartments for Rent in Phoenix Hill, KY

As of August 04, 2026 the best value apartment in the Phoenix Hill area is the $0.78 price per square foot 1833 Arctic Spgs Model at 1833 Arctic Spgs, Unit River view in the in the Phoenix Hill neighborhood starting from $1,400. The second greatest value Phoenix Hill apartment is the 1041 Cherokee Rd Model at 1041 Cherokee Rd starting at $2,000 with a $1.25 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.
1833 Arctic Spgs, Unit River view1833 Arctic Spgs1BR,1BA$0.78
1041 Cherokee Rd1041 Cherokee Rd2BR,2.5BA$1.25
1627 Story Ave, Unit Apt 21627 Story Ave2BR,2BA$1.10
1436 S 3rd St1436 S 3rd St2BR,2BA$1.07
535 E Kentucky St, Unit 1F535 E Kentucky St2BR,1BA$1.20
Glassworks Lofts1 Bedroom - 1 Bathroom1BR,1BA$1.21
Derby Row | Student HousingThoroughbred2BR,2BA$1.09
200 N 18th St, Unit 200 N 18th St200 N 18th St2BR,1BA$1.01
Germantown Village Apartments1 Bedroom1BR,1BA$1.28
800 Towers ApartmentsStudioStudio ,1BA$1.19

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

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The Official Expert's Guide to the Top Neighborhoods in Louisville for College Renters

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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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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 $861.

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

The cheapest apartment in Phoenix Hill is 800 Towers Apartments which is listed at $754, 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 55 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 $380 which is $935 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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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

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.

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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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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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