How many apartments are available in Louisville, KY on Rentable.co?

Rentable.co has over 16,999 apartments available in Louisville.

What is the average rent for a studio apartment in Louisville, KY?

The average rent for a studio apartment in Louisville is around $810 per month.

What is the average rent for a one-bedroom apartment in Louisville, KY?

The average rent for a one-bedroom apartment in Louisville is around $1,020 per month.

What is the average rent for a two-bedroom apartment in Louisville, KY?

The average rent for a two-bedroom apartment in Louisville is around $1,260 per month.

How expensive is living in Louisville, KY?

Based on average rent prices in Louisville, to afford a studio apartment you would need an annual salary of $32,000 to live comfortably.

Apartments in Park Duvall Louisville

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Louisville:
May Rent Report

Welcome to the May 2023 Louisville Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 2023 key findings and figures for the Louisville rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Louisville and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Louisville average rent prices in the chart below.

Monthly Rent Report

Louisville Rent Prices Decrease From April to May

Louisville rent prices decreased over the last month. From April to May, the city experienced a -0.38% decrease for the price of a one-bedroom apartment. The rent price for a Louisville one-bedroom apartments currently stands at $1,052.0.

When we take a look at the two-bedroom comparison from April to May, Louisville experienced a 0.16% increase for the price of a two-bedroom apartment. The rent price for a Louisville two-bedroom apartments currently stands at $1,242.0.

May Prices: Louisville vs. Surrounding Areas

Rent Prices in Louisville and Surrounding Areas

Rent prices have decreased in Louisville over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 1 of the Louisville suburb increased last month. On the other hand, 1 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

Rent increased in Clarksville, IN .
Rent decreased in New Albany, IN.
1 suburb is currently priced higher than the city of Louisville.
1 suburb is currently priced lower than the city of Louisville.

May 2023 Pricing Trends: Louisville vs. National Comparisons

Louisville Rent Prices More Affordable Than Major Cities

Rent growth in Louisville over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Louisville average rent prices appear to be relatively affordable for local residents.

The price for a Louisville one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Louisville and surrounding area rent prices, take a look at the complete data set below.

Data set for Louisville and suburbs

	1 BR May	1 BR M/M % Change	2 BR May	2 BR M/M % Change
Louisville, KY	$1,056.0	0.86%	$1,240.0	1.39%
Clarksville, IN	$1,095.0	2.82%	$1,375.0	0.00%
New Albany, IN	$800.0	0.00%	$1,296.0	2.53%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.