Cheapest Neighborhoods in Louisville, KY
Some of the cheapest neighborhoods in Louisville are Beechmont, Hazelwood, and Portland. These neighborhoods offer some of the lowest rent prices in Louisville, making them ideal for renters on a budget. As of September 23, 2026, the average rent in Louisville is $1,126, which is 1.1% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
Beechmont
Average Rent
$810/Month
Year-Over-Year Rent Change
1.1%
Units Available
15 Rentals
Beechmont is an affordable neighborhood in Louisville with an average rent price of $810. Compare this to the city average of $1,126. In the past year, rent prices have increased by 1.1%. Beechmont provides easy access to Central Station, Bellarmine University, and Jefferson Comm. & Tech., DC.
Hazelwood
Average Rent
$816/Month
Year-Over-Year Rent Change
2.1%
Units Available
13 Rentals
If you’re looking for a great, affordable neighborhood in Louisville, Hazelwood might be the perfect place! It has an average rent price of $816, while the city’s average stands at $1,126. In the last year, prices have increased by 2.1%. Hazelwood is near Louisville Nature Center, Spalding University, and Iroquois Park.
Portland
Average Rent
$844/Month
Year-Over-Year Rent Change
5.8%
Units Available
15 Rentals
Portland is a top choice for budget-conscious renters for a variety of reasons. The average rent in Portland is $844 while the city average is $1,126. This is a 5.8% difference from last year. Residents enjoy convenient access to Portland Museum, Louisville Muhammad Ali International, and The Market.
Taylor Berry
Average Rent
$849/Month
Year-Over-Year Rent Change
0.9%
Units Available
19 Rentals
When you’re looking for a great Louisville neighborhood on a budget, check out Taylor Berry. The average rent is $849, compared to the city average of $1,126. Rent prices have increased by 0.9%. Taylor Berry is convenient to Spalding University, Kentucky Science Center, and Jefferson Comm. & Tech., JTC.
Shelby Park
Average Rent
$864/Month
Year-Over-Year Rent Change
0.9%
Units Available
18 Rentals
Shelby Park is an affordable neighborhood in Louisville with an average rent price of $864. Compare this to the city average of $1,126. In the past year, rent prices have increased by 0.9%. Shelby Park provides easy access to Louisville Zoo, Oak Street Center, and Rauch Planetarium.
Bashford Manor
Average Rent
$876/Month
Year-Over-Year Rent Change
0.2%
Units Available
21 Rentals
If you’re looking for a great, affordable neighborhood in Louisville, Bashford Manor might be the perfect place! It has an average rent price of $876, while the city’s average stands at $1,126. In the last year, prices have decreased by 0.2%. Bashford Manor is near Medical Plaza, Watterson West Shopping Center, and Rauch Planetarium.
Bon Air
Average Rent
$906/Month
Year-Over-Year Rent Change
0.4%
Units Available
30 Rentals
Bon Air is a top choice for budget-conscious renters for a variety of reasons. The average rent in Bon Air is $906 while the city average is $1,126. This is a -0.4% difference from last year. Residents enjoy convenient access to Eva Bandman Park and Cyclocross Venue, Louisville Nature Center, and Louisville Mega Cavern.
Churchill Downs
Average Rent
$939/Month
Year-Over-Year Rent Change
0.9%
Units Available
17 Rentals
When you’re looking for a great Louisville neighborhood on a budget, check out Churchill Downs. The average rent is $939, compared to the city average of $1,126. Rent prices have increased by 0.9%. Churchill Downs is convenient to Kentucky Science Center, Waterfront Park, and Jefferson Comm. & Tech., JTC.
West Russell
Average Rent
$947/Month
Year-Over-Year Rent Change
1.5%
Units Available
47 Rentals
West Russell is an affordable neighborhood in Louisville with an average rent price of $947. Compare this to the city average of $1,126. In the past year, rent prices have increased by 1.5%. West Russell provides easy access to Jefferson Comm. & Tech., DC, Univ. of Louisville, Health, and Portland Museum.
Pleasure Ridge Park
Average Rent
$950/Month
Year-Over-Year Rent Change
4.9%
Units Available
65 Rentals
If you’re looking for a great, affordable neighborhood in Louisville, Pleasure Ridge Park might be the perfect place! It has an average rent price of $950, while the city’s average stands at $1,126. In the last year, prices have increased by 4.9%. Pleasure Ridge Park is near Strip Center, South Harrison Park Observatory, and Chickasaw Park.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.