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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.
The Cheapest Neighborhoods In Louisville For 2022
What's the cheapest neighborhood to live in Louisville for 2022? 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:
- Best Places To Live In Kentucky
- Cheapest Places To Live In Kentucky
- Cheapest Cities To Live In America
- Cheapest States To Live In America
The 10 Cheapest Neighborhoods To Live In Louisville For 2022
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Population: 1,463
Cost Of Living Index: 83 (6th 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
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Population: 1,119
Cost Of Living Index: 80 (2nd 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
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Population: 1,577
Cost Of Living Index: 82 (4th cheapest)
Home Value To Income Ratio: 1.4 (cheapest)
Rent To Income Ratio: 0.02 (39th cheapest)
More on Hazelwood: Homes For Sale | Data
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Population: 4,592
Cost Of Living Index: 85 (14th 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
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Population: 1,809
Cost Of Living Index: 85 (14th cheapest)
Home Value To Income Ratio: 2.9 (3cheapest)
Rent To Income Ratio: 0.011 (10th cheapest)
More on Camp Taylor: Homes For Sale | Data
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Population: 5,182
Cost Of Living Index: 84 (9th 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
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Population: 7,253
Cost Of Living Index: 84 (9th 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
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Population: 5,741
Cost Of Living Index: 87 (24th 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
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Population: 9,015
Cost Of Living Index: 80 (2nd 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
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Population: 480
Cost Of Living Index: 83 (6th cheapest)
Home Value To Income Ratio: 3.7 (5cheapest)
Rent To Income Ratio: 0.011 (13th cheapest)
More on Hallmark: Homes For Sale | Data
Methodology: How We Determined The Cheapest Louisville Hoods In 2022
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.
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.
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:
- Most Dangerous Cities In Kentucky
- Richest Cities In Kentucky
- Safest Places In Kentucky
- Worst Places To Live In Kentucky