Cheap New Apartments for Rent in Lexington, KY from $540 (29 Rentals)

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

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

Your first apartment comes with a learning curve nobody warns you about. Hear from real renters who've been there and get the advice they wish someone had given them on day one.

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The Artisan
$1,250 - $1,924
Total Monthly Price

Total Monthly Price

Base Rent
$1,250 - $1,924
Total Monthly Price
$1,250 - $1,924
Built in 20211 to 3 Bedroom Apartments Available Now

The Artisan

2601 Sandersville RdLexington, KY 40511
Furnished
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  • Customer Reviewed
  • Utilities Included
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Trent Village Apartments
Built in 20161 to 2 Bedroom Apartments

Trent Village Apartments

1393 Trent BlvdLexington, KY 40517
Senior Living
  • Utilities Included
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Arlington Lofts
Built in 2020Studio to 1 Bedroom Apartments

Arlington Lofts

1001-1021 N Limestone StLexington, KY 40505
  • Utilities Included

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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330 Newtown Apartments
Built in 20231 to 3 Bedroom Apartments

330 Newtown Apartments

330 Newtown PikeLexington, KY 40508
  • Utilities Included
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University Flats
Built in 20172 to 4 Bedroom Apartments

University Flats

1160 University DrLexington, KY 40526
Student Housing
  • Utilities Included
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Alcove at Russell Cave
Built in 20241 to 3 Bedroom Apartments

Alcove at Russell Cave

1975 Russell Cave RdLexington, KY 40511
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524 W Third St
Built in 20231 Bedroom Apartments

524 W Third St

524 W Third StLexington, KY 40508
  • Utilities Included
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Oakdale Apartments
Built in 20231 to 3 Bedroom Apartments

Oakdale Apartments

2445 Mulundy WayLexington, KY 40511
  • Utilities Included
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Amerson Orchard Apartments
Rent Specials
$999 - $2,164
Total Monthly Price

Total Monthly Price

Base Rent
$999 - $2,164
Total Monthly Price
$999 - $2,164
Built in 20171 to 4 Bedroom Apartments Available Now

Amerson Orchard Apartments

102 Amerson Orchard RdGeorgetown, KY 40324
Family Friendly
  • Verified
  • Customer Reviewed
  • Utilities Included

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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Showing Results 1-29, Page 1 of 1

Lexington, KY Local Guide

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

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Lexington, KY Area Reviews

  • Parks
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  • Restaurants
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  • 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 $865.

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 $1,354.

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 1,555 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 $710 which is $644 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

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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.

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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.

Articles, How-To's, and Tips

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

Written by: Robin Stewart

Renters want to find a great apartment, the right place for them, one that checks all the boxes of location, rental cost, amenities, safety, and more.

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

Written by: Robin Stewart

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.

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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.