Cheap Apartments for Rent in the Deerfield Neighborhood of Lexington, KY from $500 (32 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 VELO - Waller Avenue priced from $745. Brookhaven Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $840. 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
Brookhaven Apartments1 Bedroom/1 Bath1BR,1BA$840
The Crossings Apartment Homes1 Bedroom, 1 Bathroom1BR,1BA$860
Flats at TurflandRenovated 1 Bedroom - Open Concept1BR,1BA$895
Chelsea Apartments1 Bedroom1BR,1BA$895
The Studios at Belmont - MAJOR UTILITIES INCLStudioStudio,1BA$895
Landing at Malabu852 Malabu - Newly-Renovated One Bedroom Apartm...1BR,1BA$895
Vetra Lexington1 Bedroom 1 Bath1BR,1BA$899
The Axis at 1435StudioStudio,1BA$920
Tates Creek Crossings2 Bedroom 1 Bath2BR,1BA$924

Best Value Apartments for Rent in Deerfield, KY

As of September 11, 2025 the best value apartment in the Deerfield area is the $0.88 price per square foot 2 Bedroom 1.5 Bathroom Model at Tates Creek Village in the in the Lansdowne neighborhood starting from $1,050. The second greatest value Deerfield apartment is the Renovated 2 Bed / 1 Bath Deluxe Model at Rivers at Bluegrass starting at $1,449 with a $1.26 price per square foot in the Stonewall Community 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.
Tates Creek Village2 Bedroom 1.5 Bathroom2BR,1.5BA$0.88
Rivers at BluegrassRenovated 2 Bed / 1 Bath Deluxe2BR,1BA$1.26
The StretchTwo Bedroom2BR,2BA$0.88
Tates Creek Crossings2 Bedroom 1.5 Bath2BR,1.5BA$1.14
The MetropolitanBluegrass2BR,1BA$1.21
4044 Expo Ct, Lexington, KY, 40515-4682Covered front porch2BR,1BA$1.09
Shillito Park Apartments1 Bed 1 Bath1BR,1BA$1.24
The Colony at the OaksThe Willow1BR,1BA$1.33
Chelsea Apartments1 Bedroom1BR,1BA$1.39
The Crossings Apartment Homes1 Bedroom, 1 Bathroom1BR,1BA$1.38

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Pet Friendly Lifestyle
Deerfield, Lexington, KY

Ranked #10

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 $924.

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 $3,680.

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 17 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 $2,014 which is $1,666 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

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