Cheap Apartments for Rent in the Deerfield Neighborhood of Lexington, KY from $500 (33 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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Showing Results 1-33, Page 1 of 1

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 - Waller Avenue priced from $745. Crescent at Shadeland Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $819. Here are the most affordable Deerfield apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
VELO - Waller AvenueNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
Crescent at Shadeland Apartments0BR/1.0BAStudio,1BA$819
Brookhaven Apartments1 Bedroom/1 Bath1BR,1BA$825
Tates Creek Crossings1 Bedroom 1 Bath1BR,1BA$845
The Crossings Apartment Homes1 Bedroom, 1 Bathroom1BR,1BA$860
Chelsea Apartments1 Bedroom1BR,1BA$895
Lansdowne ApartmentsLarge 1BR/1BA1BR,1BA$925
Flats at TurflandNewly-Renovated One Bedroom Apartments!1BR,1BA$945
Landing at MalabuSummer Availability Newly-Renovated One Bedroom...1BR,1BA$945
Breckinridge CourtStudio 460 sf (st1)1BR,1BA$960

Best Value Apartments for Rent in Deerfield, KY

As of July 28, 2025 the best value apartment in the Deerfield area is the $0.88 price per square foot Two Bedroom Model at The Stretch in the in the Downtown Lexington neighborhood starting from $865. The second greatest value Deerfield apartment is the 1 Bed 1 Bath Model at Shillito Park Apartments starting at $1,025 with a $1.28 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.
The StretchTwo Bedroom2BR,2BA$0.88
Shillito Park Apartments1 Bed 1 Bath1BR,1BA$1.28
The Colony at the OaksThe Willow1BR,1BA$1.42
Rivers at BluegrassRenovated 1 Bed / 1 Bath1BR,1BA$1.33
The MetropolitanWoodford1BR,1BA$1.41
Canter PointeAffirmed - 1x11BR,1BA$1.43
Tates Creek Crossings1 Bedroom 1 Bath1BR,1BA$1.21
Chelsea Apartments1 Bedroom1BR,1BA$1.39
The Crossings Apartment Homes1 Bedroom, 1 Bathroom1BR,1BA$1.38
Brookhaven Apartments1 Bedroom/1 Bath1BR,1BA$1.38

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Pet Friendly Lifestyle
Deerfield, Lexington, KY

Ranked #9

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 $960.

What is the price of a cheap apartment in Deerfield?

The cheapest apartment in Deerfield is VELO - Waller Avenue 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 4 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 $2,939 which is $406 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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.