
Cheap Apartments for Rent in the University Neighborhood of Louisville, KY from $500 (26 Rentals)
Search the lowest-cost Apartments available for rent right now in the University area of Louisville.


213 W Hill St

The Reynolds Lofts

Old Louisville - 1500 S 2nd St

1524 S 4th St

1468 S 4th St
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.

1718 S 4th St

431 Kensington Ct

417 Kensington Ct

1525-1541 S 4th St

217-223 W Hill St

1705 4th St
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.

1481 S 3rd St

416 Belgravia Ct

1530 S 3rd St

Annex of Station House Square Apartments

1460 2nd St

Station House Apartments
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.

Old School Apartments

Wellesley Townhouses

Cardinal Towne

The Belknap Apartments

1720 S 2nd St

1524-1530 S 2nd St
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.

Reeser Court

Walden Apartments
University, Louisville, KY Local Guide

How much does it cost to rent an apartment in University?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| University 1 Bedroom Apartments | $1,063 | $850 | $1,211 |
| University 2 Bedroom Apartments | $1,095 | $821 | $1,630 |
| University 3 Bedroom Apartments | $1,069 | $717 | $2,127 |
| University 4 Bedroom Apartments | $883 | $839 | $919 |
Browse Apartments in this Neighborhood
There are currently 26 rentals with your search options within a 2 mile radius of the University Neighborhood of Louisville, KY.
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University, Louisville, KY Local Guide
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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 Brexx at Louisville priced from $869. Cardinal Village Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $899. Here are the most affordable University apartments for rent in Louisville, KY:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Brexx at Louisville | Cloverhurst 4x4.5 | 4BR,4BA | $869 |
| Cardinal Village Apartments | 1x1 Lower Level | 1BR,1BA | $899 |
| Trifecta | A3 | 1BR,1BA | $1,161 |
Best Value Apartments for Rent in University, KY
As of July 09, 2026 the best value apartment in the University area is the $0.54 price per square foot Courtyard 4x4 Model at Brexx at Louisville in the in the Downtown Louisville neighborhood starting from $839. 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Brexx at Louisville | Courtyard 4x4 | 4BR,4BA | $0.54 |
| The Province (KY) | 2 Bed - 2 Bath | 2BR,2BA | $1.01 |
| 216 W Burnett Ave, Unit 226B | 216 W Burnett Ave | 2BR,1BA | $1.35 |
| Trifecta | A2 | 1BR,1BA | $1.95 |
| Cardinal Village Apartments | 1x1 2nd/3rd Rehab W/D | 1BR,1BA | $1.72 |
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.
Read ArticleThe 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
Read ArticleReal 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.
Read ArticleQuick 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.
Best Local Schools in University, Louisville, KY
School data provided by Great Schools
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 $1,012.
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

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.

The Official Expert's Guide to the Top Neighborhoods in Louisville for College Renters
Written by: Mike Heuer
Louisville is a terrific location to get an advanced education at one of its many great colleges and universities.

Mint Juleps and Mile-Saving Commutes: Finding Quality Louisville Apartments Near Major Employers
Written by: Mike Heuer
Kentucky is a business-friendly commonwealth, and Louisville is its largest city. It also is home to many great employers who pay well, and their workers have lots of great choices in neighborhoods to rent great apartments.

Bourbon, Baseball, and the Blues: Your Insider's Guide to Louisville, Kentucky
Written by: Mike Heuer
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.
Articles, How-To's, and Tips

Renters Insurance 101: What It Is, What It Covers, and Why You Need It
Written by: Robin Stewart
Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

Apartment Occupancy Rates: Renter Attraction vs Renter Retention
Written by: Robin Stewart
There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide
Written by: Robin Stewart
Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.