What are the most and least expensive neighborhoods for renters in Louisville?

Olivia Evans, Louisville Courier Journal
·2 min read
LDG Development has proposed building a 128-unit affordable apartment complex at 4516 Cane Run Road, called The Path Off Cane Run.
LDG Development has proposed building a 128-unit affordable apartment complex at 4516 Cane Run Road, called The Path Off Cane Run.

Searching for an apartment or rental house and not wanting to break the bank?

You're in luck. Louisville fares better than many cities when it comes to average rent price. According to a survey from RentCafe, a nationwide apartment listing service, the average cost for rent in the U.S. is $1,702 which gets an average apartment size of 897 square feet. But in Louisville, renters can scrape by spending $1,212 on average and claim an average apartment of 931 square feet.

"Renters in Louisville are getting more space for their money compared to many other parts of the United States," Maurie Irimia, a RentCafe spokesperson said. "In a spring report released on the RentCafe blog, we showed that for $1,500/month, renters in Louisville get around 1,170 square feet of apartment space. This is almost five times more than what renters in Manhattan would get on average for the same amount of money."

Zach Pitts, the property manager at Premier Property Management Services, said renters in Louisville benefit from a lower cost of living and higher comfortability.

"People rent for different reasons, but I feel like people are more transient nowadays," Pitts said. "The commitment of homeownership is kind of frightening, so, to be in an affordable place to live with a lot of close cities close that you can travel to visit is a benefit too."

LDG Development has proposed building a 128-unit affordable apartment complex at 4516 Cane Run Road, called The Path Off Cane Run.
LDG Development has proposed building a 128-unit affordable apartment complex at 4516 Cane Run Road, called The Path Off Cane Run.

Irimia shared that Louisville is a "top builder" of apartments, ranking 33 out of 300 metro areas RentCafe analyzed, and that between 2020 and 2022, the city built 8,300 apartments with another 2,600 planned for the future.

"With its combination of lower-than-average cost of living and larger-than-average living spaces, Louisville positions itself as an attractive locale for families, remote workers, and those seeking a higher quality of life without the financial strain often found in coastal urban areas," Irimia said.

So where is the most expensive neighborhood in Louisville to rent according to RentCafe?

Algonquin and University take the top mark with average rent coming in at $1,886.

As for the cheapest neighborhood to rent, check out Cloverleaf where the average rent is $847.

(Note: The Courier Journal only referenced neighborhoods that are identified as neighborhoods by the Louisville/Jefferson County Information Consortium. The data does not include Fairgrounds, Hallmark, Highland Park or Park Hill neighborhoods.)

Here's a look at how rents stack up across the city:

Click here if you cannot see the data above.

Contact business reporter Olivia Evans at oevans@courier-journal.com or on Twitter at @oliviamevans_.

This article originally appeared on Louisville Courier Journal: Where is the cheapest and most expensive place to rent in Louisville?