Cheap Apartments for Rent in Louisville, KY from $300 (647 Rentals)

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

property at 4116 W Broadway

4116 W Broadway

LouisvilleKY40211

Louisville's Best Affordable Neighborhoods

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

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property at 5501 Yucca Ln

5501 Yucca Ln

LouisvilleKY40258
property at 947 S Brook St

947 S Brook St

LouisvilleKY40203
property at 2220 Heather Ln

2220 Heather Ln

LouisvilleKY40218
Showing Results 1-50, Page 1 of 13

Louisville, KY Local Guide

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Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Louisville, KY

Pricing Updated: 04/16/2025

Current apartment rentals in the Louisville, KY area range in price from $200 to $13,320 with an overall median price of $2,376. The three Louisville neighborhoods with the lowest median rent pricing are Highland Park at $535, Wilder Park at $535, and Wyandotte at $535. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Louisville Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Highland Park$1,190$535133
Wilder Park$1,190$535146
Wyandotte$1,190$535147
Southland Park$1,249$73524
Prestonia$1,259$1,2591
Tyler Park$1,275$1,0505
East Russell$1,303$542103
Park Duvalle$1,328$67540
Masonic Home$1,334$92512
Jacobs$1,374$65025

Cheapest Available Louisville Apartments for Rent

 

The cheapest available apartment rental in Louisville, KY is a Studio unit found at The Puritan Senior Living - 62 & Over in the Phoenix Hill neighborhood priced from $200. Yellowwood Terrace Affordable Senior Housing in the Southern Indiana neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $200. Here is today’s list of the most affordable Louisville apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Puritan Senior Living - 62 & OverStudio, 1 bathStudio,1BA$200
Yellowwood Terrace Affordable Senior HousingStandard1BR,1BA$200
Brookview GlenStudioStudio,1BA$378
M. Fine on Spring2BT52BR,1BA$418
Gateway on BroadwayTwo Bedroom2BR,1BA$542
Aberdeen Woods Phase 1-72 Bedroom + 2 Bath2BR,2BA$550
Louisville 532 bedroom, 1 bath2BR,1BA$650
Colonial Village ApartmentsThe Princess1BR,1BA$707

Best Value Apartments for Rent in Louisville, KY

As of April 16, 2025 the best value apartment in the Louisville area is the $0.48 price per square foot 3 Bedroom + 2 Bath Model at Aberdeen Woods Phase 1-7 in the in the Crystal Springs neighborhood starting from $755. The second greatest value Louisville apartment is the Two Bedroom Two Bath Model at Sheffield Square starting at $1,222 with a $0.91 price per square foot in the Downtown New Albany neighborhood. Here is today’s list of the best values for Louisville apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Aberdeen Woods Phase 1-73 Bedroom + 2 Bath3BR,2BA$0.48
Sheffield SquareTwo Bedroom Two Bath2BR,2BA$0.91
Bayshore Townhomes3 x 1.5 Pixie C13BR,1.5BA$0.93
2101 Saint Xavier St, Unit 1F2101 Saint Xavier St3BR,1BA$0.81
Gateway on BroadwayOne Bedroom1BR,1BA$0.50
River Chase Apartments2 Bed, 1 Bath Flat with W/D Hook-Up2BR,1BA$0.88
Olde Towne VillageAshton1BR,1BA$0.87
M. Fine on Spring2BT52BR,1BA$0.45
Bridgepointe Crossing2 br2BR,1.5BA$0.92
Yellowwood Terrace Affordable Senior HousingStandard1BR,1BA$0.34

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Louisville Overview

Steeped in tradition and bubbling over with an exuberant celebration of everything from bourbon to Beatles, every day feels like “Derby Day” in Louisville. Louisville's contradictions are what makes it special. While the Kentucky city boasts the historic Churchill Downs racetrack and the largest Victorian district in the nation, Louisville is also home to Fortune 500 companies -- and a quirky “indie” section that rivals even Portland’s famous alternative scene.

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

Explore Louisville, KY Rentals by Map

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See the most popular apartments and homes in Louisville, KY

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Why live in Louisville, KY?

Truly a wonderful place to be, life in apartments in Louisville can't be beat. There is never a shortage of excitement to get out and enjoy either. From nightlife to historic landmarks to the Kentucky Derby it's hard to ever be bored here!

Getting Around Louisville, KY

Walk Score®

52 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

51 / 100

Bikeable

Some bike infrastructure

Transit Score®

30 / 100

Some Transit

A few nearby public transportation options

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.

Louisville, KY Area Reviews

  • Parks
  • Entertainment
  • Local Vibes
  • Restaurants
  • Location
  • Traffic
  • Public Transportation
  • Outdoor Access
  • Cost of Living
  • Safety

Frequently Asked Questions about Cheap Louisville Apartments

What is a cheap apartment in Louisville?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Louisville is under $707.

What is the price of a cheap apartment in Louisville?

The cheapest apartment in Louisville is Yellowwood Terrace Affordable Senior Housing which is listed at $200, while the average apartment in Louisville costs $2,376.

What types of apartments are the cheapest in Louisville?

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 1,945 regular apartments in Louisville that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Louisville?

Cheap apartments in Louisville have an average cost of $344 which is $2,032 cheaper than the average rent for all rentals in Louisville.

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.

decorative image for The 10 Best Affordable Neighborhoods for Renting in Louisville, KY article

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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Know Your Rights - How Discrimination Laws Impact Landlords & Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.