Most Affordable Neighborhoods in Louisville, KY
Some of the cheapest neighborhoods in Louisville are South Louisville, Pleasure Ridge Park, and Smoketown. These neighborhoods offer some of the lowest rent prices in Louisville, making them ideal for renters on a budget. As of March 29, 2025, the average rent in Louisville is $1,103, which is 0.9% 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.
South Louisville
Average Rent
$955/Month
Year-Over-Year Rent Change
1.2%
TransitScore® Rating
24/100
Units Available
60 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
$1,022/Month
Year-Over-Year Rent Change
1.4%
TransitScore® Rating
33/100
Units Available
36 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 $1,022, while the city’s average stands at $1,103. In the last year, prices have increased by 1.4%. Pleasure Ridge Park is near Univ. of Louisville, Belknap, Dixie Depot Plaza, and South Harrison Park Observatory.
Smoketown
Average Rent
$1,025/Month
Year-Over-Year Rent Change
18.2%
TransitScore® Rating
54/100
Units Available
43 Rentals
Smoketown is a top choice for budget-conscious renters for a variety of reasons. The average rent in Smoketown is $1,025 while the city average is $1,103. This is a -18.2% difference from last year. Residents enjoy convenient access to Jefferson Comm. & Tech., JTC, Broadbrook Center, and Univ. of Louisville, Health. The neighborhood is considered walkable with a WalkScore® of 78.
Fern Creek
Average Rent
$1,034/Month
Year-Over-Year Rent Change
0.3%
TransitScore® Rating
24/100
Units Available
50 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.
Newburg
Average Rent
$1,160/Month
Year-Over-Year Rent Change
4.7%
TransitScore® Rating
30/100
Units Available
34 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.
South Side
Average Rent
$1,231/Month
Year-Over-Year Rent Change
1.1%
TransitScore® Rating
16/100
Units Available
72 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.
Hurstbourne Acres
Average Rent
$1,245/Month
Year-Over-Year Rent Change
1.1%
TransitScore® Rating
2/100
Units Available
39 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.
Lyndon
Average Rent
$1,308/Month
Year-Over-Year Rent Change
1.1%
TransitScore® Rating
1/100
Units Available
41 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
$1,335/Month
Year-Over-Year Rent Change
1.5%
TransitScore® Rating
51/100
Units Available
472 Rentals
When you’re looking for a great Louisville neighborhood on a budget, check out Downtown Louisville. The average rent is $1,335, compared to the city average of $1,103. Rent prices have decreased by 1.5%. Downtown Louisville is convenient to Cardinal Center, Louisville Waterfront Park, and Louisville Muhammad Ali International. The community is walkable with a WalkScore® of 77.
Fourth Street
Average Rent
$1,343/Month
Year-Over-Year Rent Change
0.3%
TransitScore® Rating
63/100
Units Available
82 Rentals
Fourth Street is a lively downtown neighborhood known for its entertainment district, featuring the Fourth Street Live! complex. This area is perfect for those seeking an active, urban lifestyle, particularly because of its numerous dining, shopping, and nightlife options.
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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.