Cheap Apartments for Rent in the Deerfield Neighborhood of Lexington, KY from $600 (53 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

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

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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Showing Results 1-50, Page 1 of 2

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. Breckinridge Court has the second lowest priced unit, which is a 1 Bed apartment currently listed from $845. 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
Breckinridge CourtStudio 460 sf (st2)1BR,1BA$845
Crescent at Shadeland Apartments0BR/1.0BAStudio,1BA$859
The Crossings Apartment Homes1 Bedroom, 1 Bathroom1BR,1BA$860
Tates Creek Crossings1 Bedroom 1 Bath1BR,1BA$894
The Studios at Belmont - MAJOR UTILITIES INCLStudioStudio,1BA$895
Barrel Oaks ApartmentsTimeless One Bedroom with the Willow1BR,1BA$899
The Callaway1x1-A1BR,1BA$920
The Vue Lexington1 Bed 1 Bath1BR,1BA$949
Canter PointeAffirmed - 1x11BR,1BA$975

Best Value Apartments for Rent in Deerfield, KY

As of May 07, 2026 the best value apartment in the Deerfield area is the $1.03 price per square foot 3 Bedroom 2.5 Bathroom Model at Tates Creek Village in the in the Lansdowne neighborhood starting from $1,550. The second greatest value Deerfield apartment is the 1 Bed 1 Bath Model at Shillito Park Apartments starting at $995 with a $1.24 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.
Tates Creek Village3 Bedroom 2.5 Bathroom3BR,2.5BA$1.03
Shillito Park Apartments1 Bed 1 Bath1BR,1BA$1.24
Vetra Lexington2 Bedroom 1 Bath2BR,1BA$1.42
Creeks on KirklevingtonThe Calloway1BR,1BA$1.35
Barrel Oaks ApartmentsCozy Cul de Sac Apartment with Barrel Oaks Amen...2BR,1BA$1.40
The Wellington1 Bedroom1BR,1BA$1.42
Tates Creek Crossings1 Bedroom 1 Bath1BR,1BA$1.28
Canter PointeAffirmed - 1x11BR,1BA$1.39
The Callaway1x1-A1BR,1BA$1.34
The Crossings Apartment Homes1 Bedroom, 1 Bathroom1BR,1BA$1.38

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 $975.

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 39 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 $1,051 which is $2,294 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.

Articles, How-To's, and Tips

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Lexington article

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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A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

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Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.