Cheap Apartments for Rent in the Castlewood Neighborhood of Lexington, KY from $400 (70 Rentals)

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

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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

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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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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The Paddock Apartments
$1,195 - $1,345
Total Monthly Price

Total Monthly Price

Base Rent
$1,195 - $1,345
Total Monthly Price
$1,195 - $1,345
1 to 2 Bedroom Apartments Available Jul 10

The Paddock Apartments

416 Hollow Creek RdLexington, KY 40511
Affordability
  • Verified
  • Customer Reviewed
  • Utilities Included
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Park Plaza Apartments
$1,289 - $3,695
Total Monthly Price

Total Monthly Price

Base Rent
$1,289 - $3,695
Total Monthly Price
$1,289 - $3,695
Studio to 2 Bedroom Apartments Available Now

Park Plaza Apartments

120 E Main StLexington, KY 40507
Family Friendly
  • Verified
  • Customer Reviewed
  • Utilities Included

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.

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Stonehurst Studios
Studio Apartments

Stonehurst Studios

256 Lyndhurst PlLexington, KY 40508
Student Housing
  • Utilities Included
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Hartford Place
Studio to 2 Bedroom Apartments

Hartford Place

1598 Martha CtLexington, KY 40505
  • Utilities Included
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Kampus Terraces
Studio Apartments

Kampus Terraces

317 Transylvania ParkLexington, KY 40508
Student Housing
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Kampus Heights
Studio Apartments

Kampus Heights

350 Linden WalkLexington, KY 40508
Student Housing
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Parkway Manor
1 to 3 Bedroom Apartments

Parkway Manor

431 Rogers RdLexington, KY 40505
  • Utilities Included
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St Martin Villa
1 to 2 Bedroom Apartments

St Martin Villa

412-422 Lima DrLexington, KY 40511
  • Utilities Included

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

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Heritage Hills
1 to 2 Bedroom Apartments

Heritage Hills

1708 Jennifer RdLexington, KY 40505
  • Utilities Included
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426 E High St
1 Bedroom Apartments

426 E High St

426 E High StLexington, KY 40507
Student Housing
  • Utilities Included
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Medical View Properties
1 to 2 Bedroom Apartments

Medical View Properties

805 Press AveLexington, KY 40508
Student Housing
  • Utilities Included
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Bluegrass Commons
Studio to 1 Bedroom Apartments

Bluegrass Commons

165 Virginia AveLexington, KY 40508
  • Utilities Included
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Valore at the Baxter
1 Bedroom Apartments

Valore at the Baxter

1597 Martha CtLexington, KY 40505
Corporate Housing
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Arlington Lofts
Studio to 1 Bedroom Apartments

Arlington Lofts

1001-1021 N Limestone StLexington, KY 40505
  • 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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Castlewood, Lexington, KY Local Guide

Cheapest Available Castlewood Apartments for Rent

 

The cheapest available apartment rental in the Castlewood area of Lexington, KY is a Studio unit found at The Dawn Run Apartments priced from $790. Valore at the Baxter has the second lowest priced unit, which is a 1 Bed apartment currently listed from $799. Here are the most affordable Castlewood apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
The Dawn Run ApartmentsStudio XLStudio,1BA$790
Valore at the Baxter1 Bed | 1 Bath1BR,1BA$799
Courtside Apartments1 Beds, 1 Baths1BR,1BA$800
Double Tree Apartments2 Bedroom Traditional2BR,1BA$910
The Ascent1555Renovated StudioStudio,1BA$975
Prime Hamburg ApartmentsElite 1 BR1BR,1BA$975
Revive 1749 - All Utilities Incl2BR/1.0BA2BR,1BA$1,090
The Oaks at Woodland1 Bed, 1 bath1BR,1BA$1,171
Artek Lofts1 Bed, 1 Bath Flat1BR,1BA$1,180
Studios180 - Short/Long Term LeasesStudioStudio,1BA$1,195

Best Value Apartments for Rent in Castlewood, KY

As of July 03, 2026 the best value apartment in the Castlewood area is the $1.88 price per square foot Two Bedroom Model at The Flats at 345 in the in the Northside Historic Residential neighborhood starting from $1,775. The second greatest value Castlewood apartment is the 326 E High St Model at 326 E High St, Unit 2 starting at $1,500 with a $1.67 price per square foot in the Northside Historic Residential neighborhood. Here is today’s list of the best values for Castlewood apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Flats at 345Two Bedroom2BR,2BA$1.88
326 E High St, Unit 2326 E High St3BR,1BA$1.67
Double Tree Apartments2 Bedroom Deluxe-Renovated2BR,1BA$1.18
Revive 1749 - All Utilities Incl2BR/1.0BA2BR,1BA$1.31
1809 at WinchesterA4 Alysheba - 1 Bedroom, 1 Bathroom1BR,1BA$1.75
Prime Hamburg ApartmentsElite 1 BR1BR,1BA$1.31
The Oaks at Woodland1 Bed, 1 bath1BR,1BA$1.95
The Dawn Run ApartmentsStudio XLStudio ,1BA$1.32
Valore at the Baxter1 Bed | 1 Bath1BR,1BA$1.34
Courtside Apartments1 Beds, 1 Baths1BR,1BA$1.39

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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Quick Rent Budget Calculator

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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Pet Friendly Lifestyle
Castlewood, Lexington, KY

Ranked #66

Among cities in Kentucky for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Castlewood, Lexington, KY

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of rentals in cities across the United States and customized analysis for Central Lexington, KY. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including our Star Ratings to compare for proximity to parks, luxury amenities, transit availability, pet-friendly communities, features that make it easier to raise kids, and how walkable or bikeable each community and area is. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Castlewood Apartments

What is a cheap apartment in Castlewood?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Castlewood is under $1,195.

What is the price of a cheap apartment in Castlewood?

The cheapest apartment in Castlewood is Valore at the Baxter which is listed at $799, while the average apartment in Castlewood costs $1,814.

What types of apartments are the cheapest in Castlewood?

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 16 regular apartments in Castlewood that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

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.

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