Cheap Apartments for Rent in Prospect, KY from $600 (46 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
Rent Specials
$1,081 - $2,226
Total Monthly Price

Total Monthly Price

Base Rent
$1,081 - $2,226
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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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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Crowne at the Summit
Rent Specials
$1,218 - $1,984
Total Monthly Price

Total Monthly Price

Base Rent
$1,218 - $1,984
Total Monthly Price
$1,218 - $1,984
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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Summit Place Apartments
1 to 2 Bedroom Apartments

Summit Place Apartments

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

Bourbon, Baseball, and the Blues: Your Insider's Guide to Louisville, Kentucky

There's more to Louisville than the Kentucky Derby. Get a local insider's take on the best bourbon tours, dining, music venues, horse racing, and cultural experiences the city has to offer.

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Showing Results 1-46, Page 1 of 1

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 Beech Grove Apartments in the Oak Park neighborhood priced from $825. The Woods Apartments in the Oak Park neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $919. Here is today’s list of the most affordable Prospect apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Beech Grove ApartmentsThe Beech1BR,1BA$825
The Woods Apartments1 BD 1 BA1BR,1BA$919
Hidden Creek Apartment HomesOne Bed One Bath 8501BR,1BA$960
Lighthouse Apartments1 Bedroom, 1 Bathroom1BR,1BA$980
Countrybrook Apartments1 Bed 1 Bath Apartment1BR,1BA$989
HeathmooreOne Bed One Bath Standard1BR,1BA$990
Stonebridge ApartmentsSecond Floor 1Bed/1Bath1BR,1BA$995
Sova1 Bedroom1BR,1BA$999
Autumn Ridge Apartments1 Bedroom 1 Bathroom1BR,1BA$1,015
Maple Brook ApartmentsA - Aubern1BR,1BA$1,023

Best Value Apartments for Rent in Prospect, KY

As of June 10, 2026 the best value apartment in the Prospect area is the $1.23 price per square foot 3 Bedroom, 2 Bathroom Model at Lighthouse Apartments in the in the Oak Park neighborhood starting from $1,600. The second greatest value Prospect apartment is the B4R Model at Stonewater Apartments starting at $1,530 with a $1.32 price per square foot in the Outer East End 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.
Lighthouse Apartments3 Bedroom, 2 Bathroom3BR,2BA$1.23
Stonewater ApartmentsB4R2BR,2.5BA$1.32
Rivers Edge Residences2 Beds, 2 baths2BR,2BA$1.10
Rolling HillsThe Splendor1BR,1BA$1.20
Westport Woods2 bed 2 Bath2BR,2BA$1.24
Wolf Run Park Apartments2Bedroom/2Bathroom 986 sqft2BR,2BA$1.14
Hidden Creek Apartment HomesTwo Bed One Bath 9502BR,1BA$1.31
Springhurst East Apartments2 Bedroom 1 Bathroom Large2BR,1BA$1.12
Stonebridge ApartmentsFirst Floor 1Bed/1Bath1BR,1BA$1.26
The Woods Apartments1 BD 1 BA1BR,1BA$1.33

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 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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Real 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.

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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
Prospect, KY

Ranked #15

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 $825 at Beech Grove 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 $1,045 at Springhurst East Apartments.

What is the most affordable Prospect Three Bedroom Apartment?

The best deal on a cheap Prospect Three Bedroom Apartment rental is at Rolling Hills and starts from $1,081.

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.

decorative image for Bourbon, Baseball, and the Blues: Your Insiders Guide to Louisville, Kentucky article

Bourbon, Baseball, and the Blues: Your Insiders 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

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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.

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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.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.