Cheap Apartments for Rent in Lexington, KY from $595 (254 Rentals)

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

property at 733 Hill Rise Ct
$750 - $1,150
1 To 3 Bedroom Rentals
Available Now
Affordability

733 Hill Rise Ct

LexingtonKY40504

Horses, Hoops, and a Short Commute: Renting Near Lexington's Top Employers

Finding the right neighborhood near your Lexington workplace doesn't have to be complicated. Our local expert breaks down the best areas to rent near Toyota, UK, Lexmark, and more.

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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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property at 1081 Cross Keys Rd
$875 - $1,800
1 Bedroom Rentals
Available Now
Affordability

1081 Cross Keys Rd

LexingtonKY40504

The Southern Spirit: Your Guide to Finding the Perfect Area of Lexington to Rent

Discover Lexington's unique balance of lively downtown growth, university energy, and friendly Southern spirit. A local guide to neighborhoods, dining, and outdoor life.

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Lexington's Best Affordable Neighborhoods

Learn about Lexington and the best places to live with original content written by our Local Expert Catrina Cowart

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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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Lexington, KY Local Guide

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Written By:
Trey Huguley
Director, Product Marketing

Cheapest Neighborhoods for Apartments in Lexington, KY

Pricing Updated: 09/15/2026

Current apartment rentals in the Lexington, KY area range in price from $595 to $6,250 with an overall median price of $1,315. The three Lexington neighborhoods with the lowest median rent pricing are Meadows - Loudon at $992, Ohio Chestnut Street at $997, and Ashland Park at $1,000. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Lexington Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Meadows - Loudon$992$81514
Ohio Chestnut Street$997$5957
Ashland Park$1,000$66529
Calumet$1,100$78536
Outer East Lexington$1,100$59549
Outer West Lexington$1,102$745119
Beaumont Residential$1,105$75092
Shadeland Community$1,115$89526
Southern Heights$1,125$74517
Red Mile$1,140$74598

Cheapest Available Lexington Apartments for Rent

 

The cheapest available apartment rental in Lexington, 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 Lexington apartments for rent:

Apartment ListingModel NameBed/BathPriced From
BelleFontaine Apartment Homes0-1Studio,1BA$685
The Landing at LexLand1.11BR,1BA$745
Emerson Center 62+ Senior ApartmentsStudioStudio,1BA$750
Preakness ApartmentsP111BR,1BA$750
1592 Alexandria Dr1 Beds, 1 Baths1BR,1BA$750
Hub Limestone4x3 Lite4BR,3BA$775
Wellington Park ApartmentsOne Bed One Bath1BR,1BA$775
Valore at the Baxter1 Bed | 1 Bath1BR,1BA$799
Park VistaPV1.11BR,1BA$829
Prime Hamburg Apartments1BR - 1BTH1BR,1BA$850

Best Value Apartments for Rent in Lexington, KY

As of September 15, 2026 the best value apartment in the Lexington area is the $1.07 price per square foot The Starpine Model at EAGLE CREEK TOWNHOMES in the in the Boone Creek neighborhood starting from $1,605. The second greatest value Lexington apartment is the 132 Greenbriar Rd Model at 132 Greenbriar Rd starting at $1,400 with a $1.00 price per square foot in the Montclair 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.
EAGLE CREEK TOWNHOMESThe Starpine3BR,2.5BA$1.07
132 Greenbriar Rd132 Greenbriar Rd2BR,1BA$1.00
401 Patchen Drive2BR/2.5BA2BR,2.5BA$1.03
Latitude Lexington525: 2 Bed - 2 Bath2BR,2BA$1.07
Caballo Crossing2 Bedroom 1 Bath2BR,1BA$1.00
The Dawn Run Apartments2x1 SM2BR,1BA$1.08
Parkside Apartments2 Bedroom2BR,1BA$1.13
Park VistaPV1.11BR,1BA$1.12
The Landing at LexLand1.11BR,1BA$1.10
1592 Alexandria Dr1 Beds, 1 Baths1BR,1BA$1.15

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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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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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Lexington Overview

Lexington, a vibrant, diverse city, offers its residents a high quality of life in a beautiful setting. The city is one of the oldest in the nation and distinguished itself early on as a destination for thoroughbred horse farms and racing. The city lies in the heart of the Blue Grass region of Kentucky with rolling, verdant hills and a moderate four-season climate. Life in Lexington apartments provides lots of options and conveniences to enjoy this region where employment opportunities are abundant in academia, manufacturing and services. Wages in the region are higher than the national rate, but the cost of housing ranks 26 percent lower than the U.S. average.

Why live in Lexington, KY?

Few cities in the U.S. offer the diversity found in Lexington, from historical significance to a vibrant economic base rooted in higher education, manufacturing, high tech and services. The cost of living in Lexington is lower than the U.S. average, while wages for some jobs tend to be higher - since Kentucky isn’t a right-to-work state. The unemployment rate is typically lower than the national average, while the climate in Lexington offers four distinct seasons without the extremes and outdoor recreation is abundant. The city and surrounding environment offer stunning beauty and recreation, along with the world-class horse racing. All of this and much more make life in apartments in Lexington oamong the best in the country!

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

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Lexington, KY Area Reviews

  • Parks
  • Entertainment
  • Local Vibes
  • Restaurants
  • Location
  • Traffic
  • Public Transportation
  • Outdoor Access
  • Cost of Living
  • Safety

Catrina • 4+ years in Lexington

March 15, 2026

Lexington is a great place to live, and depending on which part of the city you choose, it can be good for students, families, private individuals, people who want to be close to shopping, etc. The sky is the limit in Lexington for foodies, and if you enjoy Bourbon, this is the place to be. Traffic is abysmal at certain times of the day (especially inside the circle) but if you can drive outside rush hours, you'll be fine.

Catrina • 4+ years in Lexington

February 25, 2025

Lexington is a great place for people of all types. It is, interestingly, highly bilingual, with many Spanish-speaking residents. Public transportation throughout Lexington is not the best, and the cost of living has skyrocketed in recent years. That being said, it is very safe for a city, and while I've experienced petty theft twice, both times were because I had left my vehicle unlocked at an apartment complex. The outdoor areas are beautiful here, and there are more restaurants than you'd know what to do with. Overall, you get modern amenities with a southern touch.

Frequently Asked Questions about Cheap Lexington Apartments

What is a cheap apartment in Lexington?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Lexington is under $850.

What is the price of a cheap apartment in Lexington?

The cheapest apartment in Lexington is BelleFontaine Apartment Homes which is listed at $735, while the average apartment in Lexington costs $1,315.

What types of apartments are the cheapest in Lexington?

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 4,993 regular apartments in Lexington 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 Lexington?

Cheap apartments in Lexington have an average cost of $653 which is $662 cheaper than the average rent for all rentals in Lexington.

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.

Helpful Local Expert Guides

decorative image for Horses, Hoops, and a Short Commute: Renting Near Lexington's Top Employers article

Horses, Hoops, and a Short Commute: Renting Near Lexington's Top Employers

Written by: Catrina Cowart

Hi, I’m Catrina, your ApartmentHomeLiving.com Local Expert for Lexington, Kentucky.

decorative image for The Southern Spirit: Your Guide to Finding the Perfect Neighborhood to Rent in Lexington article

The Southern Spirit: Your Guide to Finding the Perfect Neighborhood to Rent in Lexington

Written by: Catrina Cowart

Hi, I’m Catrina, your ApartmentHomeLiving.com Local Expert for Lexington, Kentucky. Our team at ApartmentHomeLiving.

decorative image for The Ultimate Lexington Student Housing Guide - Top Neighborhoods for Renting Near Major Universities article

The Ultimate Lexington Student Housing Guide - Top Neighborhoods for Renting Near Major Universities

Written by: Catrina Cowart

I'm Catrina, your ApartmentHomeLiving.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Lexington article

A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Lexington

Written by: Catrina Cowart

Hi, I'm Catrina, your ApartmentHomeLiving.com Local Expert for Lexington, Kentucky, and I'm happy to talk to you about some of the neighborhoods that I've found to be particularly charming in this small city.

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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.

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Exploring Rental Options: Apartments, Townhomes, and Lofts - Oh My!

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Where do you see yourself? When you think of home, sweet home, are you in a 3/2 apartment? Dreaming of a tall townhome? Maybe an industrial loft heavy on cool vibes is on your visioning board.

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Practical Tips for Renters: How to Identify a Great Rental and Avoid Red Flags

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First Apartment Regrets: Real Renters Share What They'd Do Differently

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Hindsight is 20/20. Live and Learn. With age comes wisdom. We’re familiar with all those expressions, and all of them apply to lessons first-time renters learn.