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$725 - $1,0001 to 3 Bedroom Apartments Contact Us For Availability
Rosetown Apartments
320 Elm Tree LnLexington, KY 40508
Cheap Apartments for Rent in the Downtown Lexington Neighborhood of Lexington, KY from $500 (35 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Lexington area of Lexington.
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$740 - $9101 to 2 Bedroom Apartments Contact Us For Availability
Meadowthorpe Landing - Senior Housing
1447 Antique DrLexington, KY 40511
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$745 - $1,4001 Bedroom Apartments Available Now
VELO - Waller Avenue
353 Waller AveLexington, KY 40504
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$795 - $850Studio Apartments Available Aug 14
Kampus Properties STUDENT HOUSING - 2024-'25
400-418 Aylesford PlLexington, KY 40508
1005 N Broadway
LexingtonKY40505
921 N Broadway
LexingtonKY40505
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$8541 Bedroom Apartments Available Now
Ferrill Square Apartments - 55+ Community
471 Price RdLexington, KY 40508
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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$870 - $1,2501 to 3 Bedroom Apartments Contact Us For Availability
Davis Park Station
512 De Roode StreetLexington, KY 40508
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$920 - $1,080Studio to 1 Bedroom Apartments Available Aug 11
The Axis at 1435
1435 Nicholasville RdLexington, KY 40503
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$935Studio Apartments Available Sep 8
The Studios at Belmont - MAJOR UTILITIES INCL
333 Legion DrLexington, KY 40504
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$995 - $1,1751 to 2 Bedroom Apartments Available Aug 8
Belmont Run Apartments
1232 Man O War PlLexington, KY 40504
816 Aurora Ave
LexingtonKY40502
547 N Broadway
LexingtonKY40508
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$1,095 - $1,7751 to 2 Bedroom Apartments Available Now
The Flats at 345
345 Blackburn AveLexington, KY 40508
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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
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1 Bedroom Apartments
Woodland Park Apartments - UTILITIES INCLUDED
184 Old Park AveLexington, KY 40502
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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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 1-35, Page 1 of 1
Downtown Lexington, Lexington, KY Local Guide
How much does it cost to rent an apartment in Downtown Lexington?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Lexington Studio Apartments | $1,335 | $795 | $1,745 |
| Downtown Lexington 1 Bedroom Apartments | $1,414 | $610 | $4,398 |
| Downtown Lexington 2 Bedroom Apartments | $1,836 | $800 | $4,812 |
| Downtown Lexington 3 Bedroom Apartments | $1,890 | $875 | $6,791 |
| Downtown Lexington 4 Bedroom Apartments | $1,520 | $739 | $2,700 |
Browse Apartments in this Neighborhood
There are currently 35 rentals with your search options within a 2 mile radius of the Downtown Lexington Neighborhood of Lexington, KY.
See all Apartments in LexingtonExplore Lexington
Downtown Lexington, Lexington, KY Local Guide
- Nearby Lexington neighborhoods
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Cheapest Available Downtown Lexington Apartments for Rent
The cheapest available apartment rental in the Downtown Lexington area of Lexington, KY is a 1 Bed unit found at VELO - Waller Avenue priced from $745. Ferrill Square Apartments - 55+ Community has the second lowest priced unit, which is a 1 Bed apartment currently listed from $854. Here are the most affordable Downtown Lexington apartments for rent in Lexington, KY:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| VELO - Waller Avenue | NEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO... | 1BR,1BA | $745 |
| Ferrill Square Apartments - 55+ Community | One Bedroom | 1BR,1BA | $854 |
| Rose Tower Apartments | One Bedroom | 1BR,1BA | $900 |
| The Flats at 345 | 325 One Bedroom | 1BR,1BA | $1,095 |
| Park Plaza Apartments | Maxwell | Studio,1BA | $1,120 |
| Trifecta on Red Mile - Newly Renovated! | Trifecta on Red Mile - One Bedroom | 1BR,1BA | $1,145 |
| Artek Lofts | 1 Bed, 1 Bath Flat | 1BR,1BA | $1,160 |
| Studios180 - Short/Long Term Leases | Studio | Studio,1BA | $1,195 |
| 524 & 525 Angliana | 525: 1 Bed - 1 Bath | 1BR,1BA | $1,404 |
Best Value Apartments for Rent in Downtown Lexington, KY
As of July 31, 2025 the best value apartment in the Downtown Lexington area is the $1.55 price per square foot House Model at MidTown Apartments in the in the Montclair neighborhood starting from $2,450. The second greatest value Downtown Lexington apartment is the 4 x 3 Standard Model at Burley Properties starting at $2,500 with a $1.83 price per square foot in the Downtown Lexington neighborhood. Here is today’s list of the best values for Downtown Lexington apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| MidTown Apartments | House | 4BR,4BA | $1.55 |
| Burley Properties | 4 x 3 Standard | 4BR,3BA | $1.83 |
| 201 Price Rd, Unit Apt 223 | 201 Price Rd | 1BR,1BA | $1.22 |
| The Stretch | Two Bedroom | 2BR,2BA | $0.88 |
| 524 & 525 Angliana | 525: 1 Bed - 1 Bath | 1BR,1BA | $1.73 |
| Preserve Lexington | A3 | 1BR,1BA | $2.11 |
| Ferrill Square Apartments - 55+ Community | One Bedroom | 1BR,1BA | $1.29 |
| Trifecta on Red Mile - Newly Renovated! | Trifecta on Red Mile - One Bedroom | 1BR,1BA | $1.74 |
| The Flats at 345 | 325 One Bedroom | 1BR,1BA | $2.11 |
| Rose Tower Apartments | One Bedroom | 1BR,1BA | $2.00 |
Quick Rent Budget Calculator
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Pet Friendly LifestyleDowntown Lexington, Lexington, KY
Ranked #43
Among cities in Kentucky for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Best Local Schools in Downtown Lexington, Lexington, KY
School data provided by Great Schools
Lifestyle Ratings
ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of rentals in metropolitan areas across the United States, including Lexington. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including rankings of the best places for proximity to parks, luxury amenities, apartment complexes for the kids, raising pets, transit options, and much more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!
Frequently Asked Questions about Cheap Downtown Lexington Apartments
What is a cheap apartment in Downtown Lexington?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Lexington is under $1,404.
What is the price of a cheap apartment in Downtown Lexington?
The cheapest apartment in Downtown Lexington is VELO - Waller Avenue which is listed at $745, while the average apartment in Downtown Lexington costs $3,872.
What types of apartments are the cheapest in Downtown Lexington?
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 22 regular apartments in Downtown Lexington 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 Downtown Lexington?
Cheap apartments in Downtown Lexington have an average cost of $1,055 which is $2,817 cheaper than the average rent for all rentals in Downtown Lexington.
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.
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.
The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Written by: Christine Leonard, Esq.
Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.
Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Written by: Christine Leonard, Esq.
Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.
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.