Everything else equal, 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.
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 determine which neighborhoods in Louisville are the cheapest using Saturday Night Science.
What’s the cheapest neighborhood to live in Louisville for 2024? According to the most recent census data, Camp Taylor looks to be the cheapest 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 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.
For more Kentucky reading, check out:
- Best Places To Live In Kentucky
- Cheapest Places To Live In Kentucky
- Cheapest Cities To Live In America
- Cheapest States To Live In America
Table Of Contents: Top Ten | Methodology | Summary | Table
The 10 Cheapest Neighborhoods To Live In Louisville For 2024
/10
Population: 1,262
Cost Of Living Index: 86 (12th cheapest)
Home Value To Income Ratio: 1.6 (2nd cheapest)
Rent To Income Ratio: 0.007 (2nd cheapest)
More on Camp Taylor: Data | Real Estate
/10
Population: 1,707
Cost Of Living Index: 104 (52nd cheapest)
Home Value To Income Ratio: 1.5 (cheapest)
Rent To Income Ratio: 0.01 (5th cheapest)
More on Brownsboro Zorn: Data | Real Estate
/10
Population: 1,488
Cost Of Living Index: 102 (49th cheapest)
Home Value To Income Ratio: 2.0 (8th cheapest)
Rent To Income Ratio: 0.009 (3rd cheapest)
More on Poplar Level: Data | Real Estate
/10
Population: 9,614
Cost Of Living Index: 83 (2nd cheapest)
Home Value To Income Ratio: 1.7 (3rd cheapest)
Rent To Income Ratio: 0.026 (56th cheapest)
More on Portland: Data | Real Estate
/10
Population: 6,365
Cost Of Living Index: 85 (6th cheapest)
Home Value To Income Ratio: 1.7 (4th cheapest)
Rent To Income Ratio: 0.023 (5cheapest)
More on Parkland: Data | Real Estate
/10
Population: 2,942
Cost Of Living Index: 87 (16th cheapest)
Home Value To Income Ratio: 2.0 (9th cheapest)
Rent To Income Ratio: 0.02 (37th cheapest)
More on South Louisville: Data | Real Estate
/10
Population: 5,636
Cost Of Living Index: 88 (2cheapest)
Home Value To Income Ratio: 2.3 (14th cheapest)
Rent To Income Ratio: 0.018 (28th cheapest)
More on Southside: Data | Real Estate
/10
Population: 8,361
Cost Of Living Index: 91 (30th cheapest)
Home Value To Income Ratio: 2.4 (17th cheapest)
Rent To Income Ratio: 0.015 (18th cheapest)
More on Beechmont: Data | Real Estate
/10
Population: 5,199
Cost Of Living Index: 86 (12th cheapest)
Home Value To Income Ratio: 2.3 (15th cheapest)
Rent To Income Ratio: 0.021 (4cheapest)
More on Jacobs: Data | Real Estate
/10
Population: 6,845
Cost Of Living Index: 85 (6th cheapest)
Home Value To Income Ratio: 2.2 (12th cheapest)
Rent To Income Ratio: 0.023 (50th cheapest)
More on Algonquin: Data | Real Estate
Methodology: How We Determined The Cheapest Louisville Hoods In 2024
To rank the cheapest places to live in Louisville, we had to determine what criteria define “cheap” and then apply Saturday Night Science.
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 64 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, Camp Taylor.
We updated this article for 2024. This is our fourth time ranking the cheapest neighborhoods to live in Louisville. Skip to the end to see the list of all the neighborhoods in the city, from cheapest to most expensive.
Summary: Lowest Cost Places To Live 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.
The most affordable neighborhoods in Louisville are Camp Taylor, Brownsboro Zorn, Poplar Level, Portland, Parkland, South Louisville, Southside, Beechmont, Jacobs, and Algonquin.
As mentioned earlier, the neighborhoods in Louisville aren’t all cheap. University takes the title of the most expensive neighborhood to live in Louisville.
The most expensive neighborhoods in Louisville are University, Old Louisville, Cherokee Triangle, Phoenix Hill, and Hawthorne.
We ranked the neighborhoods from cheapest to most expensive in the chart below.
For more Kentucky reading, check out:
- Most Dangerous Cities In Kentucky
- Richest Cities In Kentucky
- Safest Places In Kentucky
- Worst Places To Live In Kentucky