Cheap Apartments for Rent in the Deerfield Neighborhood of Lexington, KY from $700 (52 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Deerfield 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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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

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

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1101 Beaumont Centre LnLexington, KY 40513
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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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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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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 VELO Lexington priced from $745. Wellington Park Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $775. Here are the most affordable Deerfield apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
VELO LexingtonNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
Wellington Park ApartmentsOne Bed One Bath1BR,1BA$775
Parkside Apartments1 Bedroom1BR,1BA$785
Tates Creek Crossings1 Bedroom 1 Bath1BR,1BA$862
Rivers at BluegrassRenovated 1 Bed / 1 Bath1BR,1BA$900
Lansdowne Grove Apartments1BD/ 1 BA1BR,1BA$900
The Callaway1x1-A1BR,1BA$920
The Studios at Belmont - MAJOR UTILITIES INCLStudioStudio,1BA$935
The Axis at 1435StudioStudio,1BA$970
Regency Apartments at SouthlandOne Bedroom with Bonus Room1BR,1BA$995

Best Value Apartments for Rent in Deerfield, KY

As of June 21, 2026 the best value apartment in the Deerfield area is the $1.16 price per square foot Secretariat - 2x2 Model at Canter Pointe in the in the The Meadows At Brannon Crossing neighborhood starting from $1,099. The second greatest value Deerfield apartment is the 2 Bd 2 Bth 858 sf (b1) Model at Breckinridge Court starting at $1,175 with a $1.37 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.
Canter PointeSecretariat - 2x22BR,2BA$1.16
Breckinridge Court2 Bd 2 Bth 858 sf (b1)2BR,2BA$1.37
Shillito Park Apartments1 Bed 1 Bath1BR,1BA$1.24
Rivers at BluegrassRenovated 1 Bed / 1 Bath1BR,1BA$1.20
Vetra Lexington2 Bedroom 1 Bath2BR,1BA$1.42
The MetropolitanWoodford1BR,1BA$1.43
Tates Creek Crossings1 Bedroom 1 Bath1BR,1BA$1.23
The Callaway1x1-A1BR,1BA$1.34
Wellington Park ApartmentsOne Bed One Bath1BR,1BA$1.21
Parkside Apartments1 Bedroom1BR,1BA$1.30

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
Deerfield, Lexington, KY

Ranked #6

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 $995.

What is the price of a cheap apartment in Deerfield?

The cheapest apartment in Deerfield is VELO Lexington which is listed at $745, 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 21 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 $1,150 which is $2,195 cheaper than the average rent for all rentals in Deerfield.

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

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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

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

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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

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