Cheap Apartments for Rent in the Deerfield Neighborhood of Lexington, KY from $500 (34 Rentals)

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

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Deerfield, Lexington, KY Local Guide

Cheapest Available Deerfield Apartments for Rent

 

The cheapest available apartment rental in the Deerfield area of Lexington, KY is a 1 Bed unit found at MidTown Apartments priced from $610. VELO - Waller Avenue has the second lowest priced unit, which is a 1 Bed apartment currently listed from $745. Here are the most affordable Deerfield apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
MidTown ApartmentsBedroom1BR,1BA$610
VELO - Waller AvenueNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
Emerson Center 62+ Senior ApartmentsStudioStudio,1BA$799
Brookhaven Apartments1 Bedroom/1 Bath1BR,1BA$840
Tates Creek Village1 Bedroom 1 Bathroom1BR,1BA$850
The Crossings Apartment Homes1 Bedroom, 1 Bathroom1BR,1BA$860
Chelsea Apartments1 Bedroom1BR,1BA$895
Flats at TurflandRenovated 1 Bedroom - Open Concept1BR,1BA$895
The Studios at Belmont - MAJOR UTILITIES INCLStudioStudio,1BA$895
Landing at Malabu852 Malabu - Newly-Renovated One Bedroom Apartm...1BR,1BA$895

Best Value Apartments for Rent in Deerfield, KY

As of November 10, 2025 the best value apartment in the Deerfield area is the $1.26 price per square foot Renovated 2 Bed / 1 Bath Deluxe Model at Rivers at Bluegrass in the in the Stonewall Community neighborhood starting from $1,449. The second greatest value Deerfield apartment is the 2 Bedroom 1.5 Bath Den Model at Tates Creek Crossings starting at $1,222 with a $1.16 price per square foot in the The Meadows At Brannon Crossing neighborhood. Here is today’s list of the best values for Deerfield apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Rivers at BluegrassRenovated 2 Bed / 1 Bath Deluxe2BR,1BA$1.26
Tates Creek Crossings2 Bedroom 1.5 Bath Den2BR,1.5BA$1.16
The Colony at the OaksThe Cypress2BR,1.5BA$1.21
4044 Expo Ct, Lexington, KY, 40515-4682Covered front porch2BR,1BA$1.09
Shillito Park Apartments1 Bed 1 Bath1BR,1BA$1.24
The MetropolitanWoodford1BR,1BA$1.36
The Callaway1 Bedroom Traditional1BR,1BA$1.34
Chelsea Apartments1 Bedroom1BR,1BA$1.39
The Crossings Apartment Homes1 Bedroom, 1 Bathroom1BR,1BA$1.38
Tates Creek Village1 Bedroom 1 Bathroom1BR,1BA$1.37

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Pet Friendly Lifestyle
Deerfield, Lexington, KY

Ranked #8

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Frequently Asked Questions about Cheap Deerfield Apartments

What is a cheap apartment in Deerfield?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Deerfield is under $895.

What is the price of a cheap apartment in Deerfield?

The cheapest apartment in Deerfield is MidTown Apartments which is listed at $610, while the average apartment in Deerfield costs $3,345.

What types of apartments are the cheapest in Deerfield?

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 36 regular apartments in Deerfield 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 Deerfield?

Cheap apartments in Deerfield have an average cost of $1,341 which is $2,004 cheaper than the average rent for all rentals in Deerfield.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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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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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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.