Most Affordable Neighborhoods in Louisville, KY
Some of the cheapest neighborhoods in Louisville are South Louisville, Pleasure Ridge Park, and Fern Creek. These neighborhoods offer some of the lowest rent prices in Louisville, making them ideal for renters on a budget. As of January 26, 2025, the average rent in Louisville is $1,093, which is 0% lower 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.
South Louisville
Average Rent
$985/Month
Year-Over-Year Rent Change
1.9%
TransitScore® Rating
24/100
Units Available
54 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
$1,042/Month
Year-Over-Year Rent Change
1.7%
TransitScore® Rating
33/100
Units Available
38 Rentals
Pleasure Ridge Park is an affordable neighborhood in Louisville with an average rent price of $1,042. Compare this to the city average of $1,093. In the past year, rent prices have increased by 1.7%. Pleasure Ridge Park provides easy access to Univ. of Louisville, Belknap, Pleasure Ridge Plaza, and Iroquois Park. It’s a car-dependent neighborhood with a WalkScore® of 39.
Fern Creek
Average Rent
$1,059/Month
Year-Over-Year Rent Change
0.3%
TransitScore® Rating
24/100
Units Available
52 Rentals
Fern Creek offers a suburban feel with a range of housing options, from apartments to single-family homes. Here, residents love the proximity to local parks and outdoor spaces, as well as convenient shopping and dining options along Bardstown Road. This neighborhood also provides easy access to major roads, simplifying commutes for those traveling to other parts of Louisville.
Klondike
Average Rent
$1,078/Month
Year-Over-Year Rent Change
0.6%
TransitScore® Rating
34/100
Units Available
30 Rentals
If you’re looking for a great, affordable neighborhood in Louisville, Klondike might be the perfect place! It has an average rent price of $1,078, while the city’s average stands at $1,093. In the last year, prices have increased by 0.6%. Klondike is near Sullivan University, Southern Baptist Seminary, and Louisville Mega Cavern.
South Side
Average Rent
$1,166/Month
Year-Over-Year Rent Change
0.6%
TransitScore® Rating
16/100
Units Available
69 Rentals
South Side is a quiet residential neighborhood with easy access to shopping centers and local schools. Renters will enjoy the suburban atmosphere and proximity to Iroquois Park, offering plenty of opportunities for outdoor activities. This area is perfect for those seeking a peaceful retreat with access to urban conveniences.
Newburg
Average Rent
$1,179/Month
Year-Over-Year Rent Change
4.3%
TransitScore® Rating
30/100
Units Available
33 Rentals
With convenient access to major highways like I-264, Newburg offers easy commutes for its residents. This area also offers plentiful shopping and recreational options, including the popular Petersburg Park. The neighborhood’s quiet streets and suburban feel appeal to those looking for a peaceful setting.
Hurstbourne Acres
Average Rent
$1,202/Month
Year-Over-Year Rent Change
1%
TransitScore® Rating
2/100
Units Available
43 Rentals
Hurstbourne Acres is a suburban neighborhood with plenty of shopping and dining options on Hurstbourne Parkway. Along with its peaceful residential streets, renters will appreciate Hurstbourne Acres' easy access to major highways. The area also offers nearby parks, providing green spaces for outdoor relaxation.
Phoenix Hill
Average Rent
$1,212/Month
Year-Over-Year Rent Change
1.5%
TransitScore® Rating
57/100
Units Available
43 Rentals
Phoenix Hill is a historic neighborhood offering proximity to downtown Louisville and popular areas like Nulu, known for its restaurants and boutiques. Renters can enjoy a blend of historic charm and modern amenities in this walkable neighborhood. Some of the area's most walkable parts include its nearby parks and green spaces like Rubel Park.
Lyndon
Average Rent
$1,245/Month
Year-Over-Year Rent Change
3.6%
TransitScore® Rating
1/100
Units Available
36 Rentals
There's something for everyone in Lyndon. This popular suburban neighborhood has a mix of residential, retail, and green spaces that renters will love. Lyndon has nearby shopping and dining options, along with access to Robsion Park for outdoor activities. The area also offers easy access to major roads, making it a convenient location for commuters.
Downtown Louisville
Average Rent
$1,351/Month
Year-Over-Year Rent Change
1.9%
TransitScore® Rating
51/100
Units Available
349 Rentals
Downtown Louisville is a top choice for budget-conscious renters for a variety of reasons. The average rent in Downtown Louisville is $1,351 while the city average is $1,093. This is a -1.9% difference from last year. Residents enjoy convenient access to Oak Street Center, Jefferson Comm. & Tech., DC, and Kentucky Science Center. The neighborhood is considered walkable with a WalkScore® of 77.
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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.