Cheap Apartments for Rent in Elizabeth, IN from $500 (22 Rentals)

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

Louisville's Best Affordable Neighborhoods

Learn about Louisville with original content written by our Louisville, KY Local Expert, Mike Heuer

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3404 Shagbark Rd
2 Bedroom Apartments

3404 Shagbark Rd

3404 Shagbark RdLouisville, KY 40216
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Elizabeth, IN Local Guide

Cheapest Available Elizabeth Apartments for Rent and Nearby

 

The cheapest available apartment rental in Elizabeth, IN is a 1 Bed unit found at Southwood in the South Louisville neighborhood priced from $759. Broadleaf Arms in the Cloverleaf neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $825. Here is today’s list of the most affordable Elizabeth apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Southwood1 Bed, 1 bath1BR,1BA$759
Broadleaf ArmsOne Bedroom One Bathroom1BR,1BA$825
Walnut Grove1 Bedroom, 1 Bathroom1BR,1BA$830
Manslick MeadowsStudiosStudio,1BA$850
The MadisonOne Bedroom1BR,1BA$900

Best Value Apartments for Rent in Elizabeth, IN and Nearby

As of March 17, 2025 the best value apartment in the Elizabeth area is the $1.23 price per square foot Two Bedroom Model at Valley Farms Apartment Homes in the in the South Louisville neighborhood starting from $1,421. The second greatest value Elizabeth apartment is the 3 x 2.5 Pixie C1 Model at Bayshore Townhomes starting at $1,119 with a $1.01 price per square foot in the South Louisville neighborhood. Here is today’s list of the best values for Elizabeth apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Valley Farms Apartment HomesTwo Bedroom2BR,2BA$1.23
Bayshore Townhomes3 x 2.5 Pixie C13BR,1.5BA$1.01
The Landing2 Beds, 2 baths2BR,2BA$1.03
Chapman Crossing2 Bedroom2BR,1BA$1.14
Cane Run StationTwo Bed One Bath February Special $100 Month2BR,1BA$1.12
By the ParkTwo bedroom2BR,1BA$1.00
Overlook TerracesTwo Bedroom2BR,2BA$1.23
Paddocks at Ridge Park2.12BR,1BA$1.12
Broadleaf ArmsOne Bedroom One Bathroom1BR,1BA$1.03
The MadisonOne Bedroom1BR,1BA$1.23

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Getting Around Elizabeth, IN

Walk Score®

3 / 100

Car-Dependent

Almost all errands require a car

Bike Score®

10 / 100

Somewhat Bikeable

Minimal bike infrastructure

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Elizabeth Apartments

What is the Cheapest Studio apartment in Elizabeth?

Currently the most affordable Cheap Studio Apartment in Elizabeth is at Manslick Meadows listed at $850.

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

The lowest price for a Cheap One Bedroom Elizabeth Apartment is $759 at Southwood.

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

Today's best deal for a Cheap Two Bedroom Apartment in Elizabeth is starting from $879 at Southwood.

What is the most affordable Elizabeth Three Bedroom Apartment?

The best deal on a cheap Elizabeth Three Bedroom Apartment rental is at Southwood and starts from $1,059.

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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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.