14 Cheap Apartments for rent in Louisville, KY

Last updated May 25 at 4:29pm UTC
5208 Hasbrook Dr
Louisville
Louisville, KY
Updated May 25 at 4:29pm UTC
1 Bedroom
$600
606 E Ormsby Ave
Shelby Park
Louisville, KY
Updated May 25 at 2:57pm UTC
1 Bedroom
$500
538 Lilly Ave
Saint Joseph
Louisville, KY
Updated May 24 at 6:20pm UTC
1 Bedroom
$550
4156 Wheeler Avenue
Hazelwood
Louisville, KY
Updated May 18 at 10:20am UTC
2 Bedrooms
$650
4014 Parthenia Avenue
Hazelwood
Louisville, KY
Updated May 16 at 11:45am UTC
2 Bedrooms
$649
2118 Standard Ave
Park Hill
Louisville, KY
Updated April 24 at 9:48am UTC
1 Bedroom
$499
322 W Market St
New Albany
New Albany, IN
Updated May 14 at 5:54pm UTC
1 Bedroom
$630
Results within 1 miles of Louisville, KY
Results within 5 miles of Louisville, KY
311 Ridgedale Rd
Clifton Heights
Louisville, KY
Updated May 19 at 3:59am UTC
1 Bedroom
$675
114 Boston Ct.
Shawnee
Louisville, KY
Updated April 18 at 4:06am UTC
1 Bedroom
$495
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May 2018 Louisville Rent Report

Welcome to the May 2018 Louisville Rent Report. Louisville rents declined over the past month. In this report, we'll evaluate trends in the Louisville rental market, including comparisons to similar cities nationwide.

View full Louisville Rent Report
Rent Report
Louisville

May 2018 Louisville Rent Report

Welcome to the May 2018 Louisville Rent Report. Louisville rents declined over the past month. In this report, we'll evaluate trends in the Louisville rental market, including comparisons to similar cities nationwide.

Louisville rents declined over the past month

Louisville rents have declined 0.2% over the past month, and are down moderately by 1.7% in comparison to the same time last year. Currently, median rents in Louisville stand at $660 for a one-bedroom apartment and $840 for a two-bedroom. Louisville's year-over-year rent growth lags the state average of -0.5%, as well as the national average of 1.5%.

Louisville rents more affordable than many comparable cities nationwide

As rents have fallen moderately in Louisville, many other large cities nationwide have seen prices increase, in some cases substantially. Louisville is also more affordable than most similar cities across the country.

  • Louisville's median two-bedroom rent of $840 is below the national average of $1,170. Nationwide, rents have grown by 1.5% over the past year compared to the 1.7% decline in Louisville.
  • While rents in Louisville fell moderately over the past year, many cities nationwide saw increases, including Phoenix (+2.3%), Atlanta (+1.9%), and Denver (+1.6%).
  • Renters will find more reasonable prices in Louisville than most comparable cities. For example, San Francisco has a median 2BR rent of $3,060, which is more than three-and-a-half times the price in Louisville.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.