The Terra Apartment Homes
13645 Elanna Ave,
Louisville, KY 40245
1-3 Beds | $1,497 - $4,425
Rental Market Trends in Louisville, KY
What is the average rent in Louisville, KY?
$1,113/month
Average Rent
717 Sq Ft
Average Apartment Size
+0.5%
Increase in the Last Year
As of June 2025, the average rent in Louisville, KY is $1,113 per month. This is 32% lower than the national average rent of $1,628/month, making renting in Louisville more affordable than most cities in the US. When you rent an apartment in Louisville, you can expect to pay about $900 per month for a studio, $1,113 for a one-bedroom apartment, and around $1,293 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $1,659 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Louisville, KY?
In the past year, rent has increased by 0.5%, which averages out to $6 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated June 2025
Legend
2024
2025
Rent Ranges in Louisville, KY
Last Updated June 2025
$1,001 - $1,500
Most rental prices fall within this range
Percentage*
Rent Range
15%
Below $700/month
32%
$700 - $1,000/month
41%
$1,001 - $1,500/month
11%
$1,501 - $2,000/month
2%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Louisville?
Based on current rent prices, Bon Air, Village Green and Bashford Manor are the most affordable neighborhoods in Louisville.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Louisville?
Based on current rent prices, Butchertown, Louisville Waterfront and Highlands are the most expensive neighborhoods in Louisville.
Neighborhood
Average Rent
Average Sq Ft
Which Louisville neighborhoods have the most rentals available?
The neighborhoods in Louisville with the most apartments available are East End, Downtown Louisville and Irish Hill .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Louisville, KY?
Because the average rent in Louisville is $1,113, you’ll want to make about $3,710 per month or $44,520 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
Cost of Living
The cost of living in Louisville, KY is 6.0% lower than the national average. Generally, housing in Louisville is 19.9% less expensive than the national average, with rent falling between $900 - $1,659. You can expect to pay 0.9% less for groceries, 16.8% less for utilities, and 3.3% less for transportation.
How does Louisville, KY compare to other nearby cities and neighborhoods?
Use the tool below to compare Louisville, KY to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
-
$1,444/month
One Bedroom
$747/month
$1,513/month
Two Bedroom
$845/month
$2,036/month
Three Bedroom
$929/month
$3,190/month
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12
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-
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Methodology
† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in June 2025.
* Percentages may not total 100 due to rounding.