Cheap Apartments for Rent in the Shelby Park Neighborhood of Louisville, KY from $500 (128 Rentals)

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

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

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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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property at 1123 S Brook St

1123 S Brook 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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property at 952 S Floyd St

952 S Floyd St

LouisvilleKY40203

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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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. Gateway on Broadway has the second lowest priced unit, which is a 2 Beds apartment currently listed from $542. 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
Gateway on BroadwayTwo Bedroom2BR,1BA$542
Vue at 3rd StreetStudioStudio,1BA$699
800 Towers ApartmentsStudioStudio,1BA$765
Lofts on OrmsbyStudioStudio,1BA$775
Chapel House Senior Apartments - Age 62+StudioStudio,1BA$776
The Quad0BR/1.0BAStudio,1BA$825

Best Value Apartments for Rent in Shelby Park, KY

As of November 16, 2025 the best value apartment in the Shelby Park area is the $0.52 price per square foot 4 Bed, 4 Bath Classic Pool View Model at Yugo Louisville Nine in the in the Downtown Louisville neighborhood starting from $729. The second greatest value Shelby Park apartment is the 1816 W Jefferson St Model at 1816 W Jefferson St, Unit Unit 2 starting at $995 with a $0.90 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.
Yugo Louisville Nine4 Bed, 4 Bath Classic Pool View4BR,4BA$0.52
1816 W Jefferson St, Unit Unit 21816 W Jefferson St2BR,1BA$0.90
Gateway on BroadwayOne Bedroom1BR,1BA$0.50
535 E Kentucky St, Unit 2F535 E Kentucky St2BR,1BA$0.85
1120 Cherokee Rd, Unit 41120 Cherokee Rd1BR,1BA$0.83
The Cornerstone2 Bedroom2BR,1BA$1.11
Glassworks Lofts1 Bedroom - 1 Bathroom1BR,1BA$1.21
Derby Row | Student HousingBelmont2BR,2BA$1.02
1386 S 3rd St3rd Floor2BR,1BA$1.19
307 Woodbine St307 Woodbine St1BR,1BA$1.07

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 Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.

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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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Quick Rent Budget Calculator

How much rent can you afford?

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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Pet Friendly Lifestyle
Shelby Park, Louisville, KY

Ranked #8

Among cities in Kentucky for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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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.

Getting Around the Shelby Park Neighborhood in Louisville, KY

Walk Score®

71 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

78 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

44 / 100

Some Transit

A few 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 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 $825.

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

The cheapest apartment in Shelby Park is Gateway on Broadway which is listed at $542, while the average apartment in Shelby Park costs $1,225.

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 129 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 $313 which is $912 cheaper than the average rent for all rentals in Shelby Park.

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.

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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.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.