Cheap Apartments for Rent in the Cave Hill Neighborhood of Lexington, KY from $500 (22 Rentals)

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

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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BFA
Rent Specials
$1,159 - $2,0091 to 3 Bedroom Apartments Available Now

BFA

1101 Beaumont Centre LnLexington, KY 40513
Pet Friendly
  • Verified
  • Customer Reviewed
  • 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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2173 Cypress Dr
1 Bedroom Apartments

2173 Cypress Dr

2173 Cypress DrLexington, KY 40504
  • Utilities Included
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Prime at Gardenside
1 to 4 Bedroom Apartments

Prime at Gardenside

2044 Georgian WayLexington, KY 40504
Student Housing
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Palomar Woods
1 to 3 Bedroom Apartments

Palomar Woods

1850 Old Higbee Mill RdLexington, KY 40514

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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Cave Hill, Lexington, KY Local Guide

Cheapest Available Cave Hill Apartments for Rent

 

The cheapest available apartment rental in the Cave Hill area of Lexington, KY is a Studio unit found at Emerson Center 62+ Senior Apartments priced from $750. Wellington Park Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $775. Here are the most affordable Cave Hill apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
Emerson Center 62+ Senior ApartmentsStudioStudio,1BA$750
Wellington Park ApartmentsOne Bed One Bath1BR,1BA$775
Parkside Apartments1 Bedroom1BR,1BA$785
Harrods Point Apartments - Newly remodeledSmall one Bedroom1BR,1BA$929
Flats at BeaumontNewly-Renovated Studio Apartments!Studio,1BA$950

Best Value Apartments for Rent in Cave Hill, KY

As of June 22, 2026 the best value apartment in the Cave Hill area is the $1.32 price per square foot 3 Bedroom Model at Palomar View Apartments in the in the Stonewall Community neighborhood starting from $1,736. The second greatest value Cave Hill apartment is the 2x2 With Garage Model at The Tracery Apartments starting at $1,904 with a $1.64 price per square foot in the Stonewall Community neighborhood. Here is today’s list of the best values for Cave Hill apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Palomar View Apartments3 Bedroom3BR,2BA$1.32
The Tracery Apartments2x2 With Garage2BR,2BA$1.64
Prime at GardensideThe Derby2BR,2BA$1.29
2204 Winterberry Dr, Unit Side A2204 Winterberry Dr2BR,1BA$1.11
Harrods Point Apartments - Newly remodeled1 Bedroom FULLY RENOVATED1BR,1BA$1.24
BFA1BR/1.0BA1BR,1BA$1.55
The Wellington1 Bedroom1BR,1BA$1.58
Wellington Park ApartmentsOne Bed One Bath1BR,1BA$1.21
Parkside Apartments1 Bedroom1BR,1BA$1.30
The Vue Lexington1 Bed 1 Bath1BR,1BA$1.66

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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Best Local Schools in
Cave Hill, Lexington, KY

School data provided by Great Schools

Frequently Asked Questions about Cheap Cave Hill Apartments

What is a cheap apartment in Cave Hill?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Cave Hill is under $1,159.

What is the price of a cheap apartment in Cave Hill?

The cheapest apartment in Cave Hill is Wellington Park Apartments which is listed at $775, while the average apartment in Cave Hill costs $1,772.

What types of apartments are the cheapest in Cave Hill?

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 3 regular apartments in Cave Hill 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 Cave Hill?

Cheap apartments in Cave Hill have an average cost of $103 which is $1,669 cheaper than the average rent for all rentals in Cave Hill.

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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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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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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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.

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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.

Articles, How-To's, and Tips

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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.

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.