Cheap Apartments for Rent in the University Neighborhood of Louisville, KY from $500 (21 Rentals)

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

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Old School Apartments
Studio Apartments

Old School Apartments

422 Heywood AveLouisville, KY 40208
Senior Living
  • Utilities Included
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Wellesley Townhouses
2 Bedroom Apartments

Wellesley Townhouses

1600 S 2nd StLouisville, KY 40208
  • Utilities Included
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1524 S 4th St
3 Bedroom Apartments

1524 S 4th St

1524 S 4th StLouisville, KY 40208

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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Cardinal Towne
3 to 4 Bedroom Apartments

Cardinal Towne

325 W Cardinal BlvdLouisville, KY 40208
Student Housing
  • Utilities Included
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1718 S 4th St
1 to 3 Bedroom Apartments

1718 S 4th St

1718 S 4th StLouisville, KY 40208
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1468 S 4th St
1 to 2 Bedroom Apartments

1468 S 4th St

1468 S 4th StLouisville, KY 40208
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431 Kensington Ct
1 Bedroom Apartments

431 Kensington Ct

431 Kensington CtLouisville, KY 40208

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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417 Kensington Ct
3 Bedroom Apartments

417 Kensington Ct

417 Kensington CtLouisville, KY 40208
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1705 4th St
1 to 2 Bedroom Apartments

1705 4th St

1705 4th StLouisville, KY 40208
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217-223 W Hill St
1 to 3 Bedroom Apartments

217-223 W Hill St

217-223 W Hill StLouisville, KY 40208
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1481 S 3rd St
2 Bedroom Apartments

1481 S 3rd St

1481 S 3rd StLouisville, KY 40208
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1524-1530 S 2nd St
3 Bedroom Apartments

1524-1530 S 2nd St

1524-1530 S 2nd StLouisville, KY 40208
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Reeser Court
1 Bedroom Apartments

Reeser Court

1600 S 4th StLouisville, KY 40208
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1460 2nd St
1 to 2 Bedroom Apartments

1460 2nd St

1460 2nd StLouisville, KY 40208
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Walden Apartments
2 to 3 Bedroom Apartments

Walden Apartments

1726 S 2nd StLouisville, KY 40208
  • Utilities Included

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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University View
1 Bedroom Apartments

University View

403 W Bloom StLouisville, KY 40208

University, Louisville, KY Local Guide

Cheapest Available University Apartments for Rent

 

The cheapest available apartment rental in the University area of Louisville, KY is a 4 Beds unit found at Yugo Louisville Nine priced from $709. Cardinal Village Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $910. Here are the most affordable University apartments for rent in Louisville, KY:

Apartment ListingModel NameBed/BathPriced From
Yugo Louisville Nine4 Bed, 4 Bath Classic Balcony4BR,4BA$709
Cardinal Village Apartments1x1 Lower Level1BR,1BA$910
1524 S 4th St3 Beds, 1.5 Baths3BR,1BA$1,250

Best Value Apartments for Rent in University, KY

As of June 20, 2025 the best value apartment in the University area is the $1.14 price per square foot 3 Beds, 1.5 Baths Model at 1524 S 4th St in the in the Phoenix Hill neighborhood starting from $1,250. The second greatest value University apartment is the 2 Bed, 2 Bath Classic Pool View Model at Yugo Louisville Nine starting at $899 with a $1.05 price per square foot in the Downtown Louisville neighborhood. Here is today’s list of the best values for University apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
1524 S 4th St3 Beds, 1.5 Baths3BR,1.5BA$1.14
Yugo Louisville Nine2 Bed, 2 Bath Classic Pool View2BR,2BA$1.05
2923 S 3rd St, Unit 62923 S 3rd St2BR,1BA$1.15
Cardinal Village Apartments1x1 with Balcony1BR,1BA$1.67

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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Pet Friendly Lifestyle
University, Louisville, KY

Ranked #128

Among neighborhoods in Louisville, KY for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Getting Around the University Neighborhood in Louisville, KY

Walk Score®

74 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

79 / 100

Very Bikeable

Biking is convenient for most trips

Transit Score®

50 / 100

Good Transit

Many nearby public transportation options

Frequently Asked Questions about Cheap University Apartments

What is the lowest price for a Cheap Two Bedroom University Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in University is starting from $899 at Yugo Louisville Nine.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.