Cheap Apartments for Rent in the University Neighborhood of Louisville, KY from $500 (26 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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213 W Hill St
Studio Apartments

213 W Hill St

213 W Hill StLouisville, KY 40208
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1524 S 4th St
1 to 3 Bedroom Apartments

1524 S 4th St

1524 S 4th StLouisville, KY 40208
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1718 S 4th St
1 to 3 Bedroom Apartments

1718 S 4th St

1718 S 4th StLouisville, KY 40208

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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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
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417 Kensington Ct
1 to 3 Bedroom Apartments

417 Kensington Ct

417 Kensington CtLouisville, KY 40208
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416 Belgravia Ct
1 to 2 Bedroom Apartments

416 Belgravia Ct

416 Belgravia CtLouisville, KY 40208
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1705 4th St
1 to 2 Bedroom Apartments

1705 4th St

1705 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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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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1460 2nd St
1 to 2 Bedroom Apartments

1460 2nd St

1460 2nd StLouisville, KY 40208
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1530 S 3rd St
Studio Apartments

1530 S 3rd St

1530 S 3rd StLouisville, 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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Old School Apartments
Studio to 1 Bedroom Apartments

Old School Apartments

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

Wellesley Townhouses

1600 S 2nd StLouisville, KY 40208
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Cardinal Towne
Studio to 4 Bedroom Apartments

Cardinal Towne

325 W Cardinal BlvdLouisville, KY 40208
Student Housing
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1720 S 2nd St
2 Bedroom Apartments

1720 S 2nd St

1720 S 2nd 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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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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Reeser Court
1 Bedroom Apartments

Reeser Court

1600 S 4th StLouisville, KY 40208
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Walden Apartments
2 to 3 Bedroom Apartments

Walden Apartments

1726 S 2nd StLouisville, KY 40208
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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 1 Bed unit found at Cardinal Village Apartments priced from $899. Trifecta has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,079. Here are the most affordable University apartments for rent in Louisville, KY:

Apartment ListingModel NameBed/BathPriced From
Cardinal Village Apartments1x1 Lower Level1BR,1BA$899
TrifectaA11BR,1BA$1,079
Station House ApartmentsThe Ladder2BR,2BA$1,250

Best Value Apartments for Rent in University, KY

As of January 31, 2026 the best value apartment in the University 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 University apartment is the 2 Bed - 2 Bath Model at The Province (KY) starting at $899 with a $1.01 price per square foot in the Phoenix Hill 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.
Yugo Louisville Nine4 Bed, 4 Bath Classic Pool View4BR,4BA$0.52
The Province (KY)2 Bed - 2 Bath2BR,2BA$1.01
Station House ApartmentsThe Ladder2BR,2BA$1.54
Cardinal Village Apartments1x1 with Balcony1BR,1BA$1.79
TrifectaA11BR,1BA$2.10

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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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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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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Frequently Asked Questions about Cheap University Apartments

What is the price of a cheap apartment in University?

The cheapest apartment in University is Cardinal Village Apartments which is listed at $899, while the average apartment in University costs $1,130.

What types of apartments are the cheapest in University?

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 18 regular apartments in University that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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.

Articles, How-To's, and Tips

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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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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.