Best Affordable Neighborhoods in Louisville, KY
Some of the cheapest neighborhoods in Louisville are Auburndale, Taylor Berry, and Shelby Park. These neighborhoods offer some of the lowest rent prices in Louisville, making them ideal for renters on a budget. As of May 8, 2026, the average rent in Louisville is $1,131, which is 0.7% 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.
Auburndale
Average Rent
$851/Month
Year-Over-Year Rent Change
0.3%
Units Available
10 Rentals
Auburndale is a top choice for budget-conscious renters for a variety of reasons. The average rent in Auburndale is $851 while the city average is $1,131. This is a -0.3% difference from last year. Residents enjoy convenient access to Auburndale Village, New Cut Market Center, and Iroquois Park.
Taylor Berry
Average Rent
$857/Month
Year-Over-Year Rent Change
2.3%
Units Available
14 Rentals
When you’re looking for a great Louisville neighborhood on a budget, check out Taylor Berry. The average rent is $857, compared to the city average of $1,131. Rent prices have increased by 2.3%. Taylor Berry is convenient to Jefferson Comm. & Tech., DC, Iroquois Park, and Louisville Zoo.
Shelby Park
Average Rent
$874/Month
Year-Over-Year Rent Change
0.6%
Units Available
14 Rentals
Shelby Park is an affordable neighborhood in Louisville with an average rent price of $874. Compare this to the city average of $1,131. In the past year, rent prices have increased by 0.6%. Shelby Park provides easy access to Kentucky Science Center, Germantown Square Shopping Center, and Rauch Planetarium.
Bashford Manor
Average Rent
$877/Month
Year-Over-Year Rent Change
0.5%
Units Available
22 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 $877, while the city’s average stands at $1,131. In the last year, prices have increased by 0.5%. Bashford Manor is near Rauch Planetarium, Louisville Nature Center, and Southern Baptist Seminary.
Bon Air
Average Rent
$919/Month
Year-Over-Year Rent Change
1.1%
Units Available
27 Rentals
Bon Air is a top choice for budget-conscious renters for a variety of reasons. The average rent in Bon Air is $919 while the city average is $1,131. This is a 1.1% difference from last year. Residents enjoy convenient access to Bellarmine University, Louisville Muhammad Ali International, and Medical Plaza.
South Louisville
Average Rent
$939/Month
Year-Over-Year Rent Change
2.8%
Units Available
78 Rentals
South Louisville offers a mix of residential and commercial areas with proximity to major attractions like Churchill Downs, the home of the famous Kentucky Derby. The area offers a variety of housing options to suit different lifestyles, from historic homes to modern developments.
Pleasure Ridge Park
Average Rent
$947/Month
Year-Over-Year Rent Change
2.8%
Units Available
53 Rentals
When you’re looking for a great Louisville neighborhood on a budget, check out Pleasure Ridge Park. The average rent is $947, compared to the city average of $1,131. Rent prices have increased by 2.8%. Pleasure Ridge Park is convenient to Spalding University, South Harrison Park Observatory, and Univ. of Louisville, Belknap.
Portland
Average Rent
$950/Month
Year-Over-Year Rent Change
4.7%
Units Available
26 Rentals
Portland is an affordable neighborhood in Louisville with an average rent price of $950. Compare this to the city average of $1,131. In the past year, rent prices have decreased by 4.7%. Portland provides easy access to Lyles Plaza, Louisville Zoo, and Jefferson Comm. & Tech., JTC.
West Russell
Average Rent
$988/Month
Year-Over-Year Rent Change
0.6%
Units Available
41 Rentals
If you’re looking for a great, affordable neighborhood in Louisville, West Russell might be the perfect place! It has an average rent price of $988, while the city’s average stands at $1,131. In the last year, prices have increased by 0.6%. West Russell is near Chickasaw Park, Spalding University, and Jefferson Comm. & Tech., JTC.
Avondale Melbourne Heights
Average Rent
$989/Month
Year-Over-Year Rent Change
2.9%
Units Available
31 Rentals
Avondale Melbourne Heights is a top choice for budget-conscious renters for a variety of reasons. The average rent in Avondale Melbourne Heights is $989 while the city average is $1,131. This is a -2.9% difference from last year. Residents enjoy convenient access to Sullivan University, Louisville Mega Cavern, and Louisville Muhammad Ali International.
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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.