Cheap Apartments for Rent in Prospect, KY from $600 (53 Rentals)

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Search the lowest-cost Apartments available for rent right now in Prospect.

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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Rolling Hills
$982 - $2,908
Total Monthly Price

Total Monthly Price

Base Rent
$982 - $2,908
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Rolling Hills

9100 Rainbow Springs CtLouisville, KY 40241
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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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Crowne at the Summit
$1,151 - $1,967
Total Monthly Price

Total Monthly Price

Base Rent
$1,151 - $1,967
Total Monthly Price
$1,151 - $1,967
1 to 3 Bedroom Apartments Available Now

Crowne at the Summit

4301 Crowne Springs DrLouisville, KY 40241
Corporate Housing
  • Verified
  • Customer Reviewed
  • 3D Tour

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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Mint Juleps and Mile-Saving Commutes: Finding Quality Louisville Apartments Near Major Employers

Stop driving and start living! We highlight the best Louisville neighborhoods—from Beechmont to Audubon Park—with great rentals near top job providers.

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Summit Place Apartments
1 to 2 Bedroom Apartments

Summit Place Apartments

5201 Eagles Peak WayLouisville, KY 40241
Corporate Housing
  • Utilities Included

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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Prospect, KY Local Guide

Cheapest Available Prospect Apartments for Rent

 

The cheapest available apartment rental in Prospect, KY is a 1 Bed unit found at The Woods Apartments in the Oak Park neighborhood priced from $919. Hidden Creek Apartment Homes in the Oak Park neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $925. Here is today’s list of the most affordable Prospect apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Woods Apartments1 BD 1 BA1BR,1BA$919
Hidden Creek Apartment HomesOne Bed One Bath 8501BR,1BA$925
Lighthouse Apartments1 Bedroom, 1 Bathroom1BR,1BA$980
Rolling HillsThe Majestic2BR,1BA$982
Sova1 Bedroom1BR,1BA$989
Stonebridge ApartmentsFirst Floor 1Bed/1Bath1BR,1BA$995
Autumn Ridge Apartments1 Bedroom 1 Bathroom1BR,1BA$1,015
HeathmooreOne Bed One Bath Standard1BR,1BA$1,035
Stonewater ApartmentsA1BR,1BA$1,050
Prospect Park ApartmentsA11BR,1BA$1,080

Best Value Apartments for Rent in Prospect, KY

As of April 26, 2026 the best value apartment in the Prospect area is the $1.17 price per square foot The Grand Model at Rolling Hills in the in the Harrods Creek neighborhood starting from $1,798. The second greatest value Prospect apartment is the 3 Bedroom, 2 Bathroom Model at Lighthouse Apartments starting at $1,450 with a $1.12 price per square foot in the Oak Park neighborhood. Here is today’s list of the best values for Prospect apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Rolling HillsThe Grand3BR,2BA$1.17
Lighthouse Apartments3 Bedroom, 2 Bathroom3BR,2BA$1.12
Rivers Edge Residences2 Beds, 2 baths2BR,2BA$1.10
Hidden Creek Apartment HomesTwo Bed One Bath 10502BR,1BA$1.25
Westport Woods2 bed 2 Bath2BR,2BA$1.24
Stonewater ApartmentsB3R2BR,2BA$1.40
Wolf Run Park Apartments2Bedroom/2Bathroom 986 sqft2BR,2BA$1.14
Stonebridge ApartmentsFirst Floor 1Bed/1Bath1BR,1BA$1.26
Prospect Park ApartmentsA11BR,1BA$1.37
The Woods Apartments1 BD 1 BA1BR,1BA$1.33

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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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
Prospect, KY

Ranked #20

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Prospect, KY Rentals by Map

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See the most popular apartments and homes in Prospect, KY

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Frequently Asked Questions about Cheap Prospect Apartments

How much is rent for a Cheap One Bedroom Prospect Apartment?

The lowest price for a Cheap One Bedroom Prospect Apartment is $919 at The Woods Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Prospect is starting from $982 at Rolling Hills.

What is the most affordable Prospect Three Bedroom Apartment?

The best deal on a cheap Prospect Three Bedroom Apartment rental is at Westport Woods and starts from $1,395.

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

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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.

decorative image for The Official Expert's Guide to the Top Neighborhoods in Louisville for College Renters article

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.

decorative image for Mint Juleps and Mile-Saving Commutes: Finding Quality Louisville Apartments Near Major Employers article

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.

Articles, How-To's, and Tips

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

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

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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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.