Cheap Apartments for Rent near Lexington, IN from $400 (59 Rentals)

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

Rent According to Income: A Look at Income-Restricted Rentals

Find income-restricted rentals and housing subsidies. Explore government programs designed to help low-income families secure stable, affordable housing.

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

Finding the right apartment starts with three things: location, cost, and amenities. Get the insider perspective from a real estate professional on how to nail all three.

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Foxtail Pointe
2 to 3 Bedroom Apartments

Foxtail Pointe

8810 Old Highway 60Sellersburg, IN 47172
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Water's Edge
1 to 3 Bedroom Apartments

Water's Edge

20 Red Oak WayAustin, IN 47102
  • Utilities Included

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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281 E Main St
1 Bedroom Apartments

281 E Main St

281 E Main StHanover, IN 47243
  • Utilities Included
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Cedar Springs
1 to 2 Bedroom Apartments

Cedar Springs

501 Cedar Springs PlLa Grange, KY 40031
  • Utilities Included
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Highland Glen
1 to 3 Bedroom Apartments

Highland Glen

725 S Mansfield DrScottsburg, IN 47170
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Summit Place Apartments
1 to 2 Bedroom Apartments

Summit Place Apartments

5201 Eagles Peak WayLouisville, KY 40241
Corporate Housing
  • Utilities Included

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

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Lexington, IN Local Guide

Cheapest Available Lexington Apartments for Rent and Nearby

 

The cheapest available apartment rental in Lexington, IN is a 1 Bed unit found at 217 Hooton Blvd priced from $800. Oldham Oaks has the second lowest priced unit, which is a 2 Beds apartment currently listed from $905. Here is today’s list of the most affordable Lexington apartments for rent:

Apartment ListingModel NameBed/BathPriced From
217 Hooton Blvd1 Bedroom, 1 Bathroom1BR,1BA$800
Oldham Oaks2 Bedroom2BR,2BA$905
Ashby1 Bedroom 1 Bathroom - Small1BR,1BA$937
Stonebridge ApartmentsFirst Floor 1Bed/1Bath1BR,1BA$995
Green Valley ApartmentsThe Sunrise2BR,1BA$995
Charlestown FlatsOne Bedroom Flat1BR,1BA$995
Autumn Ridge Apartments1 Bedroom 1 Bathroom1BR,1BA$1,015
Nicholas LandingOne Bedroom1BR,1BA$1,031
Parkside Trace Apartments1 BEDROOM 1 BATHROOM NEW CONSTRUCTION1BR,1BA$1,050
Renaissance Park ApartmentsNew Construction Two Bedroom Two Bathroom2BR,2BA$1,095

Best Value Apartments for Rent in Lexington, IN and Nearby

As of July 25, 2026 the best value apartment in the Lexington area is the $0.91 price per square foot 3 Bedroom Model at Oldham Oaks in the starting from $1,230. The second greatest value Lexington apartment is the Thoroughbred Model at Crestwood Commons starting at $1,345 with a $1.11 price per square foot in the East End neighborhood. Here is today’s list of the best values for Lexington apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Oldham Oaks3 Bedroom3BR,2BA$0.91
Crestwood CommonsThoroughbred2BR,2BA$1.11
Plum Ridge ApartmentsTwo Bed2BR,2BA$1.05
Rivers Edge Residences2 Beds, 2 baths2BR,2BA$1.10
Adelyn Apartments4229-72BR,2BA$1.03
Lakeview2 Bedroom 2 Bath - B2BR,2BA$1.07
Green Valley ApartmentsThe Sunrise2BR,1BA$1.00
Wolf Run Park Apartments2Bedroom/2Bathroom 986 sqft2BR,2BA$1.17
Renaissance Park ApartmentsTwo Bedroom Two Bathroom2BR,2BA$1.22
217 Hooton Blvd1 Bedroom, 1 Bathroom1BR,1BA$1.05

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.

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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Lexington, IN Rentals by Map

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See the most popular apartments and homes in Lexington, IN

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Frequently Asked Questions about Cheap Lexington Apartments

What is the Cheapest Studio apartment in Lexington?

Currently the most affordable Cheap Studio Apartment in Lexington is at The Jeff On 10th listed at $1,150.

How much is rent for a Cheap One Bedroom Lexington Apartment?

The lowest price for a Cheap One Bedroom Lexington Apartment is $800 at 217 Hooton Blvd.

What is the lowest price for a Cheap Two Bedroom Lexington Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Lexington is starting from $905 at Oldham Oaks.

What is the most affordable Lexington Three Bedroom Apartment?

The best deal on a cheap Lexington Three Bedroom Apartment rental is at Oldham Oaks and starts from $1,230.

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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Rent According to Income: A Look at Income-Restricted Rentals

Written by: Robin Stewart

The idea of affordable housing can be subjective. Every individual is in a different place financially and vocationally. What one may easily afford could be a struggle for someone else.

decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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.

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

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.