Cheap Apartments for Rent in the Shelby Park Neighborhood of Louisville, KY from $500 (169 Rentals)

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

property at 1206 S Preston St

$650 - $795

Studio To 1 Bedroom Rentals

Available Now

1206 S Preston St

LouisvilleKY40203

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

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 725 S 16th St

$800

2 Bedroom Rentals

Available Now

725 S 16th St

LouisvilleKY40210

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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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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The St. Francis Apartments
Rent Specials
$852 - $1,260
Total Monthly Price

Total Monthly Price

Base Rent
$852 - $1,260
Total Monthly Price
$852 - $1,260
Studio to 2 Bedroom Apartments Available Now

The St. Francis Apartments

233 W BroadwayLouisville, KY 40202
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property at 1702 S 2nd St

$875 - $1,100

1 To 2 Bedroom Rentals

Available Now

1702 S 2nd St

LouisvilleKY40208

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

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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

There's more to Louisville than the Kentucky Derby. Get a local insider's take on the best bourbon tours, dining, music venues, horse racing, and cultural experiences the city has to offer.

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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. The Prestonian has the second lowest priced unit, which is a 1 Bed apartment currently listed from $543. 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
The Prestonian1A1BR,1BA$543
Lofts on OrmsbyStudioStudio,1BA$700
800 Towers ApartmentsStudioStudio,1BA$719
Old Louisville - 1219 S 6th StS6th01Studio,1BA$795
The Quad0BR/1.0BAStudio,1BA$825
Germantown Village Apartments1 Bedroom1BR,1BA$829
Patriot Derby (FKA Vesta Derby Oaks)A11BR,1BA$850
The St. Francis ApartmentsStudioStudio,1BA$852

Best Value Apartments for Rent in Shelby Park, KY

As of June 25, 2026 the best value apartment in the Shelby Park area is the $1.14 price per square foot 222 E Oak St Model at 222 E Oak St, Unit 1 in the in the Phoenix Hill neighborhood starting from $1,550. The second greatest value Shelby Park apartment is the Birchmore 3x3 Model at The Brexx at Louisville starting at $910 with a $0.67 price per square foot in the Downtown Louisville 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.
222 E Oak St, Unit 1222 E Oak St3BR,2BA$1.14
The Brexx at LouisvilleBirchmore 3x33BR,3BA$0.67
Derby Row | Student HousingJulep4BR,4BA$0.51
1436 S 3rd St1436 S 3rd St2BR,2BA$1.07
535 E Kentucky St, Unit 1F535 E Kentucky St2BR,1BA$1.20
The Province (KY)2 Bed - 2 Bath2BR,2BA$1.01
Glassworks Lofts1 Bedroom - 1 Bathroom1BR,1BA$1.21
200 N 18th St, Unit 200 N 18th St200 N 18th St2BR,1BA$1.05
Germantown Village Apartments1 Bedroom1BR,1BA$1.25
800 Towers ApartmentsStudioStudio ,1BA$1.19

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 $852.

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

The cheapest apartment in Shelby Park is The Prestonian which is listed at $543, while the average apartment in Shelby Park costs $1,306.

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 91 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 $476 which is $830 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.

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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 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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