How long will you be in Louisville? With your kid, you may want to consider living in Oldham County (Crestwood, Prospect, LaGrange) because the public schools there are very good. The area has a small town feel (very small town), but I didn't think that the commute to Louisville was bad at all. Once you get off of the interstate, you are basically there. Of course, that means driving...
The place to live in Louisville is the Highland area off of Bardstown Road. There are a lot of shops and restaurants, but I think the traffic is pretty bad.
I would honestly look for places to live on Craigslist. A lot of private owners post their listings there, and you are likely to find a fourplex with character or something along those lines.
Congratulations on your acceptance! I think that you will find that Louisville is a great city.