Cheap Apartments for Rent in Fayette County, KY from $400 (189 Rentals)

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Search the lowest-cost Apartments available for rent right now in Fayette County.

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The Ascent1555
Rent Specials
$975 - $1,395
Total Monthly Price

Total Monthly Price

Base Rent
$975 - $1,395
Total Monthly Price
$975 - $1,395
Studio to 2 Bedroom Apartments Available Now

The Ascent1555

1555 Eastland PkyLexington, KY 40505
Affordability
  • Verified
  • Customer Reviewed
  • Utilities Included

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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Cheapest Available Fayette County Apartments for Rent

 

The cheapest available apartment rental in Fayette County, KY is a Studio unit found at BelleFontaine Apartment Homes in the Boone Creek neighborhood priced from $685. The Landing at Lex in the Boone Creek neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $745. Here is today’s list of the most affordable Fayette County apartments for rent:

Apartment ListingModel NameBed/BathPriced From
BelleFontaine Apartment Homes0-1Studio,1BA$685
The Landing at LexLand1.11BR,1BA$745
VELO LexingtonNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
Preakness ApartmentsP111BR,1BA$750
Emerson Center 62+ Senior ApartmentsStudioStudio,1BA$750
1592 Alexandria Dr1 Beds, 1 Baths1BR,1BA$750
Meadowthorpe Landing - Senior HousingOne Bedroom1BR,1BA$770
Wellington Park ApartmentsOne Bed One Bath1BR,1BA$775
The Dawn Run ApartmentsStudio XLStudio,1BA$790
Valore at the Baxter1 Bed | 1 Bath1BR,1BA$799

Best Value Apartments for Rent in Fayette County, KY

As of July 07, 2026 the best value apartment in the Fayette County area is the $1.16 price per square foot Taylor Made Model at Park Place Apartments in the in the The Meadows At Brannon Crossing neighborhood starting from $1,785. The second greatest value Fayette County apartment is the 525: 4 bed - 4.5 Bath Model at Latitude Lexington starting at $774 with a $0.53 price per square foot in the Downtown Lexington neighborhood. Here is today’s list of the best values for Fayette County apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Park Place ApartmentsTaylor Made2BR,2BA$1.16
Latitude Lexington525: 4 bed - 4.5 Bath4BR,4.5BA$0.53
Canter PointeSecretariat - 2x22BR,2BA$1.16
Caballo Crossing2 Bedroom 1 Bath2BR,1BA$1.00
2220 Apartments2BR - 1.5BTH2BR,1.5BA$1.12
Parkside Apartments2 Bedroom2BR,1BA$1.13
Park VistaPV1.11BR,1BA$1.12
The Landing at LexLand1.11BR,1BA$1.10
Preakness ApartmentsP111BR,1BA$1.12
1592 Alexandria Dr1 Beds, 1 Baths1BR,1BA$1.15

Frequently Asked Questions about Cheap Fayette County Apartments

What is a cheap apartment in Fayette County?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Fayette County is under $799.

What is the price of a cheap apartment in Fayette County?

The cheapest apartment in Fayette County is BelleFontaine Apartment Homes which is listed at $735, while the average apartment in Fayette County costs $3,625.

What types of apartments are the cheapest in Fayette County?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 58 regular apartments in Fayette County that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Fayette County?

Cheap apartments in Fayette County have an average cost of $794 which is $2,831 cheaper than the average rent for all rentals in Fayette County.

Expert Rental Resources

The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.

Articles, How-To's, and Tips

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.