Cheap Apartments for Rent in the Shelby Park Neighborhood of Louisville, KY from $400 (179 Rentals)

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

property at 1704 Rowan St

$699 - $850

1 To 3 Bedroom Rentals

Available Now

1704 Rowan St

LouisvilleKY40203

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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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property at 1907 Payne St

$850

1 Bedroom Rentals

Available Now

1907 Payne St

LouisvilleKY40206

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

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Shelby Park, Louisville, KY Local Guide

Cheapest Available Shelby Park Apartments for Rent

 

The cheapest available apartment rental in the Shelby Park area of Louisville, KY is a Studio unit found at The Puritan Senior Living - 62 & Over priced from $200. Vue at 3rd Street has the second lowest priced unit, which is a Studio apartment currently listed from $699. Here are the most affordable Shelby Park apartments for rent in Louisville, KY:

Apartment ListingModel NameBed/BathPriced From
The Puritan Senior Living - 62 & OverStudioStudio,1BA$200
Vue at 3rd StreetStudioStudio,1BA$699
Lofts on OrmsbyStudioStudio,1BA$700
800 Towers ApartmentsStudioStudio,1BA$715
The Quad0BR/1.0BAStudio,1BA$825
Germantown Village Apartments1 Bedroom1BR,1BA$829
Patriot Derby (FKA Vesta Derby Oaks)A11BR,1BA$850

Best Value Apartments for Rent in Shelby Park, KY

As of May 10, 2026 the best value apartment in the Shelby Park area is the $1.03 price per square foot 705 Rubel Ave Model at 705 Rubel Ave, Unit B in the in the Phoenix Hill neighborhood starting from $1,550. The second greatest value Shelby Park apartment is the 535 E Kentucky St Model at 535 E Kentucky St, Unit 1F starting at $1,195 with a $1.20 price per square foot in the Medical Center neighborhood. Here is today’s list of the best values for Shelby Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
705 Rubel Ave, Unit B705 Rubel Ave2BR,2BA$1.03
535 E Kentucky St, Unit 1F535 E Kentucky St2BR,1BA$1.20
1436 S 3rd St, Unit #11436 S 3rd St1BR,1BA$1.05
Glassworks Lofts1 Bedroom - 1 Bathroom1BR,1BA$1.21
Derby Row | Student HousingThoroughbred2BR,2BA$1.05
307 Woodbine St, Unit 3307 Woodbine St1BR,1BA$1.11
Germantown Village Apartments1 Bedroom1BR,1BA$1.25
1704 Rowan St, Unit 31704 Rowan St1BR,1BA$1.08
800 Towers ApartmentsStudioStudio ,1BA$1.18
708 M St, Unit 3708 M StStudio ,1BA$0.83

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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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 brings you Lifestyle Ratings of neighborhoods, metropolitan areas, and rental properties across Kentucky and customized analysis for Central Louisville, KY. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including rankings of the best places for proximity to parks, luxury amenities, kid and pet-friendly communities, availability of transit options, and more. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Shelby Park Apartments

What is a cheap apartment in Shelby Park?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Shelby Park is under $850.

What is the price of a cheap apartment in Shelby Park?

The cheapest apartment in Shelby Park is Vue at 3rd Street which is listed at $799, while the average apartment in Shelby Park costs $1,378.

What types of apartments are the cheapest in Shelby Park?

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 99 regular apartments in Shelby Park 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 Shelby Park?

Cheap apartments in Shelby Park have an average cost of $316 which is $1,062 cheaper than the average rent for all rentals in Shelby Park.

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

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