Louisville is the largest city in Kentucky and is located near the northern state border. It was founded shortly after America’s establishment as a nation and is named after King Louis XVI of France. The city is best known for the Kentucky Derby, which it hosts every year, and as the home of former professional boxer, Muhammad Ali. Authorities have named the city’s commercial airport for Ali, which serves as the global hub for UPS. The cost of living in Louisville, KY is quite affordable and is below the national average.
How much does an apartment cost in Louisville?
Housing is an area in which Louisville has a cost of living significantly lower than the national average. Louisville includes nearly 381 square miles of land and often falls into two main categories: Louisville-Jefferson County and Louisville-Jefferson County Metro.
The metro area that includes Louisville is larger and the average cost of a studio is around $ 800. A one-bedroom apartment costs just over $ 850 per month. A two-bedroom apartment in the metro area will set you back around $ 850 per month, while a three-bedroom apartment will go up to $ 1,150. The average cost of a four-bedroom apartment in the city metropolitan area is $ 1,307.
Within the city limits the prices are slightly higher. The average monthly rent for a studio is $ 636 and a one-bedroom studio is $ 727. For a two-bedroom apartment, you’ll pay around $ 997 per month. A three-bedroom apartment in Louisville costs an average of $ 1,312 and an average four-bedroom apartment costs almost $ 1,600 per month.
How do you find cheap apartments in Louisville?
When you are looking for affordable housing in Louisville, you can start your search on Zumper. Our user-friendly search tool makes it easy to apply filters based on your location preferences or amenities that you just can’t do without in your next home. As you compare the options, you’ll soon find that apartments located closer to downtown tend to cost more than those on the outskirts of Louisville. You can save money by choosing to live a little further from the city center.
You can also save by sharing an apartment with one or two roommates. Dividing a two-bedroom apartment with a roommate costs less than the average rental price of a studio or one-bedroom apartment. Living with a roommate can also lower your ongoing monthly costs, such as utilities and internet service.
When comparing the options in your search for the ideal rental in Louisville, it’s helpful to remember that most financial experts recommend keeping your rent or housing costs at 30% or less of your total income. With the cost of living in Louisville being lower than the national average, you should be able to find accommodation that fits your budget. If you choose to live in a more affordable area that requires a commute to work, it’s also helpful to factor the cost of transportation into your monthly budget.
Find your perfect apartment in Louisville
What’s the cheapest rent in Louisville?
Louisville is divided into neighborhoods, each with its own unique vibe and amenities for residents. Some of the city’s more affordable neighborhoods include Edgewood, Merriwether, Camp Taylor, Parkland, Southside, Portland, Russell, and Hazelwood. When you compare rentals on Zumper, you can filter by zip code or location to find available addresses in those areas.
Some of the properties available for rent in Louisville cost as little as $ 500 per month, while high-end apartments or single-family homes located in desirable areas of the city can cost over $ 1,600 per month. As you do your home search, create a list of questions to ask in order to be ready when an apartment that interests you becomes available. Affordable properties tend to go fast and have more applicants, so you’ll need to act quickly when you see one popping up in your search.
In addition to the cost of monthly rent, your housing costs may include electricity, gas, internet service, sewerage, water, and garbage. Your required costs depend on the owner and the terms of the rental agreement. You can use a utility calculator to determine what you might expect to pay each month for electricity and gas. One area where Louisville has a lower cost of living than many other cities across the country is in utility prices.
How does Louisville compare to other cities?
Housing prices in the city are contributing to the drop in the cost of living in Louisville, KY. The price of housing is just under 70% of the national average, making it affordable. Grocery prices are about 11% lower than the national average, while healthcare is about 7% lower than the national average.
Interestingly, the cost of living in Louisville is slightly above the state average when it comes to housing and grocery costs. The overall cost of living in the state of Kentucky is just over 83% of the national average, while the overall cost in Louisville is almost 89% of the national average. If you live out of town in one of the nearby suburbs or towns, you may be able to live for less.