The 10 Cheapest Louisville, KY Neighborhoods To Live In For 2019


We used science and data to determine which neighborhoods in Louisville are the cheapest of the cheap.

Editor’s Note: This is our first time ranking the cheapest neighborhoods to live in Louisville.
Cheapest Neighborhoods In Louisville
Source: Public domain

Everything else equal, I think we can all agree that living in a cheaper place is better than living in a more expensive place.

I’d much rather pay $500/mo in rent than $1,000. And I’d rather pay $2 for coffee than $5.

And while every neighbhorhood in Louisville might be more expensive than living in rural Kentucky, there are certain neighborhoods that are definitely cheaper.

So what exactly are those Louisville neighborhoods where your dollar goes a little further — you can get that one bedroom instead of the studio?

Instead of relying on public opinion and speculation, we wanted to get the facts straight and find out which neighborhoods in Louisville are the cheapest.

Here are the cheapest neighborhoods in Louisville for 2019:

  1. Edgewood (Homes)
  2. Merriwether (Homes)
  3. Hazelwood (Homes)
  4. Camp Taylor (Homes)
  5. Iroquois (Homes)
  6. Parkland (Homes)
  7. Algonquin (Homes)
  8. Southside (Homes)
  9. Russell (Homes)
  10. Portland (Homes)

What’s the cheapest neighborhood to live in Louisville for 2019? According to the most recent census data, Edgewood looks to be the cheaptest Louisville neighborhood to live in.

At this point we should make it clear that you do get what you pay for — some of these neighborhoods might not be the best places to live in Louisville. You could be sacrificing location or crime rates in return for more space and cheaper groceries.

Read on to see how we determined the places around Louisville that deserve a little bragging rights or maybe you’re interested in the worst neighborhoods in Louisville.

Once you’re done, you can look at the bottom of the story for a complete chart of every neighborhood we looked at from cheapest to most expensive.

For more Kentucky reading, check out:

How We Determined The Cheapest Louisville Hoods In 2019

In order to rank the cheapest places to live in Louisville, we had to determine what criteria defines ‘cheap’.

Using census and extrapolated BLS data, we arrived at the following set of criteria:

  • Overall Cost Of Living
  • Rent To Income Ratio
  • Median Home Value To Income Ratio

We then ranked each neighborhood with scores from 1 to 65 in each category, where 1 was the cheapest.

Next, we averaged the rankings for each neighborhood to create a cheap neighborhood index.

And finally, we crowned the neighborhood with the lowest cheapest neighborhood index the ‘Cheapest City Neighborhood In Louisville.’ We’re lookin’ at you, Edgewood.

Read on below to learn more about what it’s like to live in the cheapest places Louisville. Or skip to the end to see the list of all the neighborhoods in the city from cheapest to most expensive.

The 10 Cheapest Neighborhoods To Live In Louisville For 2019

Overall SnackAbility

5
/10

Population: 1,463
Cost Of Living Index: 82 (12th cheapest)
Home Value To Income Ratio: 2.3 (13th cheapest)
Rent To Income Ratio: 0.009 (4th cheapest)
More on Edgewood: Homes For Sale | Data

The median income in Edgewood comes in at $40,291 and the median home value is $93,150 for 2019.

Overall SnackAbility

3
/10

Population: 1,119
Cost Of Living Index: 80 (3rd cheapest)
Home Value To Income Ratio: 1.5 (2nd cheapest)
Rent To Income Ratio: 0.016 (26th cheapest)
More on Merriwether: Homes For Sale | Data

The median income in Merriwether comes in at $36,212 and the median home value is $55,900 for 2019.

Overall SnackAbility

3
/10

Population: 1,577
Cost Of Living Index: 81 (6th cheapest)
Home Value To Income Ratio: 1.4 (1st cheapest)
Rent To Income Ratio: 0.02 (39th cheapest)
More on Hazelwood: Homes For Sale | Data

The median income in Hazelwood comes in at $37,002 and the median home value is $50,950 for 2019.

Overall SnackAbility

4
/10

Population: 1,809
Cost Of Living Index: 82 (12th cheapest)
Home Value To Income Ratio: 2.9 (31st cheapest)
Rent To Income Ratio: 0.011 (10th cheapest)
More on Camp Taylor: Homes For Sale | Data

The median income in Camp Taylor comes in at $31,592 and the median home value is $90,500 for 2019.

Overall SnackAbility

6
/10

Population: 4,592
Cost Of Living Index: 85 (25th cheapest)
Home Value To Income Ratio: 2.3 (12th cheapest)
Rent To Income Ratio: 0.016 (22nd cheapest)
More on Iroquois: Homes For Sale | Data

The median income in Iroquois comes in at $41,255 and the median home value is $94,480 for 2019.

Overall SnackAbility

3
/10

Population: 5,182
Cost Of Living Index: 81 (6th cheapest)
Home Value To Income Ratio: 1.9 (6th cheapest)
Rent To Income Ratio: 0.023 (48th cheapest)
More on Parkland: Homes For Sale | Data

The median income in Parkland comes in at $28,638 and the median home value is $54,244 for 2019.

Overall SnackAbility

3
/10

Population: 7,253
Cost Of Living Index: 81 (6th cheapest)
Home Value To Income Ratio: 2.1 (9th cheapest)
Rent To Income Ratio: 0.023 (46th cheapest)
More on Algonquin: Homes For Sale | Data

The median income in Algonquin comes in at $29,199 and the median home value is $61,436 for 2019.

Overall SnackAbility

6
/10

Population: 5,741
Cost Of Living Index: 84 (21st cheapest)
Home Value To Income Ratio: 2.4 (16th cheapest)
Rent To Income Ratio: 0.016 (27th cheapest)
More on Southside: Homes For Sale | Data

The median income in Southside comes in at $36,516 and the median home value is $89,088 for 2019.

Overall SnackAbility

3
/10

Population: 9,015
Cost Of Living Index: 77 (1st cheapest)
Home Value To Income Ratio: 1.6 (3rd cheapest)
Rent To Income Ratio: 0.031 (64th cheapest)
More on Russell: Homes For Sale | Data

The median income in Russell comes in at $19,483 and the median home value is $30,991 for 2019.

Overall SnackAbility

3
/10

Population: 10,294
Cost Of Living Index: 79 (2nd cheapest)
Home Value To Income Ratio: 1.8 (4th cheapest)
Rent To Income Ratio: 0.029 (62nd cheapest)
More on Portland: Homes For Sale | Data

The median income in Portland comes in at $23,489 and the median home value is $42,014 for 2019.

Summing Up The Cheapest Places In Louisville

If you’re measuring the neighborhoods in Louisville where prices are low and it’s cheap to live, this is an accurate list.

As we mentioned earlier, the neighborhoods in Louisville aren’t all cheap. Central Business District takes the title of the most expensive neighborhood to live in Louisville.

We ranked the neighborhoods from cheapest to most expensive in the chart below.

For more Kentucky reading, check out:

Detailed List Of The Cheapest Neighborhoods To Live In Louisville For 2019

Rank Neighborhood Cost Of Living Index
1 Edgewood 82
2 Merriwether 80
3 Hazelwood 81
4 Camp Taylor 82
5 Iroquois 85
6 Parkland 81
7 Algonquin 81
8 Southside 84
9 Russell 77
10 Portland 79
11 Jacobs 82
12 Audubon 90
13 Park Hill 81
14 Taylor Berry 84
15 Hallmark 82
16 Chickasaw 83
17 Shawnee 83
18 Park Duvalle 83
19 Klondike 90
20 Prestonia 88
21 Poplar Level 98
22 South Louisville 83
23 Phoenix Hill 82
24 Wyandotte 84
25 Avondale Melbourne Heights 96
26 Beechmont 87
27 Gardiner Lane 97
28 Clifton 91
29 Saint Joseph 86
30 Smoketown Jackson 84
31 Hawthorne 100
32 California 81
33 Kenwood Hill 86
34 Cloverleaf 92
35 Rock Creek Lexington Road 103
36 Belknap 106
37 Irish Hill 89
38 Clifton Heights 87
39 Iroquios Park 90
40 Schnitzelburg 92
41 Paristowne Point 88
42 Bon Air 91
43 Hikes Point 99
44 Deer Park 102
45 Bowman 103
46 Brownsboro Zorn 100
47 Butchertown 91
48 Highlands 94
49 Shelby Park 82
50 Cherokee Seneca 114
51 Germantown 94
52 Cherokee Gardens 132
53 Crescent Hill 104
54 Highlands Douglas 116
55 Wilder Park 85
56 Hayfield Dundee 105
57 Tyler Park 104
58 Bashford Manor 86
59 Soutland Park 85
60 Limerick 84
61 Cherokee Triangle 107
62 Bonnycastle 123
63 Old Louisville 88
64 University 88
65 Central Business District 99

About Chris Kolmar

Chris Kolmar has been in the real estate business for almost ten years now. He originally worked for Movoto Real Estate as the director of marketing before founding HomeSnacks.

He believes the key to finding the right place to live comes down to looking at the data, reading about things to do, and, most importantly, checking it out yourself before you move.

If you've been looking for a place to live in the past several years, you've probably stumbled upon his writing already.

You can find out more about him on LinkedIn or his website.

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