Best Affordable Neighborhoods in Louisville, KY
Some of the cheapest neighborhoods in Louisville are Auburndale, Shelby Park, and Village Green. These neighborhoods offer some of the lowest rent prices in Louisville, making them ideal for renters on a budget. As of March 23, 2026, the average rent in Louisville is $1,118, which is 0.5% 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
$842/Month
Year-Over-Year Rent Change
0.4%
Units Available
14 Rentals
When you’re looking for a great Louisville neighborhood on a budget, check out Auburndale. The average rent is $842, compared to the city average of $1,118. Rent prices have increased by 0.4%. Auburndale is convenient to Univ. of Louisville, Belknap, Louisville Muhammad Ali International, and Jefferson Comm. & Tech., SW.
Shelby Park
Average Rent
$863/Month
Year-Over-Year Rent Change
0.8%
Units Available
15 Rentals
Shelby Park is an affordable neighborhood in Louisville with an average rent price of $863. Compare this to the city average of $1,118. In the past year, rent prices have increased by 0.8%. Shelby Park provides easy access to Univ. of Louisville, Belknap, Winn Dixie Marketplace, and Louisville Zoo.
Village Green
Average Rent
$863/Month
Units Available
12 Rentals
If you’re looking for a great, affordable neighborhood in Louisville, Village Green might be the perfect place! It has an average rent price of $863, while the city’s average stands at $1,118. Village Green is near The Shops At Bashford, Louisville Mega Cavern, and Bellarmine University.
Taylor Berry
Average Rent
$871/Month
Year-Over-Year Rent Change
0.3%
Units Available
16 Rentals
Taylor Berry is a top choice for budget-conscious renters for a variety of reasons. The average rent in Taylor Berry is $871 while the city average is $1,118. This is a -0.3% difference from last year. Residents enjoy convenient access to Central Station, Jefferson Comm. & Tech., JTC, and Chickasaw Park.
Iroquois Park
Average Rent
$893/Month
Year-Over-Year Rent Change
0.6%
Units Available
12 Rentals
When you’re looking for a great Louisville neighborhood on a budget, check out Iroquois Park. The average rent is $893, compared to the city average of $1,118. Rent prices have increased by 0.6%. Iroquois Park is convenient to Jefferson Memorial Forest, Bellarmine University, and Hazelwood Shopping Center.
Bashford Manor
Average Rent
$899/Month
Year-Over-Year Rent Change
3.6%
Units Available
19 Rentals
Bashford Manor is an affordable neighborhood in Louisville with an average rent price of $899. Compare this to the city average of $1,118. In the past year, rent prices have increased by 3.6%. Bashford Manor provides easy access to Medical Plaza, Louisville Muhammad Ali International, and Southern Baptist Seminary.
Meadowcreek
Average Rent
$916/Month
Units Available
12 Rentals
If you’re looking for a great, affordable neighborhood in Louisville, Meadowcreek might be the perfect place! It has an average rent price of $916, while the city’s average stands at $1,118. Meadowcreek is near Rauch Planetarium, Louisville Nature Center, and Bellarmine University.
South Louisville
Average Rent
$917/Month
Year-Over-Year Rent Change
1.8%
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.
Bon Air
Average Rent
$918/Month
Year-Over-Year Rent Change
2.5%
Units Available
31 Rentals
Bon Air is a top choice for budget-conscious renters for a variety of reasons. The average rent in Bon Air is $918 while the city average is $1,118. This is a 2.5% difference from last year. Residents enjoy convenient access to Louisville Muhammad Ali International, Sullivan University, and Louisville Nature Center.
Pleasure Ridge Park
Average Rent
$933/Month
Year-Over-Year Rent Change
5.8%
Units Available
64 Rentals
When you’re looking for a great Louisville neighborhood on a budget, check out Pleasure Ridge Park. The average rent is $933, compared to the city average of $1,118. Rent prices have increased by 5.8%. Pleasure Ridge Park is convenient to Pleasure Ridge Plaza, Rauch Planetarium, and Jefferson Memorial Forest.
Ready to make your move to Louisville? Check out the rent specials, price drops, and great deals on ApartmentFinder.com!
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.