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$740 - $9101 to 2 Bedroom Apartments Contact Us For Availability
Meadowthorpe Landing - Senior Housing
1447 Antique DrLexington, KY 40511
Cheap Apartments for Rent in the Downtown Lexington Neighborhood of Lexington, KY from $500 (38 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Lexington area of Lexington.
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$745 - $1,4001 Bedroom Apartments Available Now
VELO - Waller Avenue
353 Waller AveLexington, KY 40504
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$800 - $1,0001 to 3 Bedroom Apartments Available Now
Rosetown Apartments
320 Elm Tree LnLexington, KY 40508
1023 N Broadway
LexingtonKY40505
921 N Broadway
LexingtonKY40505
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$8061 Bedroom Apartments Available Now
Ferrill Square Apartments - 55+ Community
471 Price RdLexington, KY 40508
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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$870 - $1,2501 to 3 Bedroom Apartments Contact Us For Availability
Davis Park Station
512 De Roode StreetLexington, KY 40508
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$895Studio Apartments Available Now
The Studios at Belmont - MAJOR UTILITIES INCL
333 Legion DrLexington, KY 40504
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$920 - $1,080Studio to 1 Bedroom Apartments Available Now
The Axis at 1435
1435 Nicholasville RdLexington, KY 40503
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$998 - $4,7002 to 6 Bedroom Apartments Available Now
Kampus Properties STUDENT HOUSING - 2024-'25
400-418 Aylesford PlLexington, KY 40508
544 Pemberton St
LexingtonKY40508
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$1,075 - $1,1751 to 2 Bedroom Apartments Available Sep 29
Belmont Run Apartments
1232 Man O War PlLexington, KY 40504
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$1,095 - $1,2951 to 2 Bedroom Apartments Available Now
Trifecta on Red Mile - Newly Renovated!
700 Red Mile RdLexington, KY 40504
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$1,095 - $1,7751 to 2 Bedroom Apartments Available Now
The Flats at 345
345 Blackburn AveLexington, 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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$1,098 - $3,7011 to 3 Bedroom Apartments Available Now
Preserve Lexington
845 Red Mile RdLexington, KY 40504
312 S Upper St
LexingtonKY40508
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Woodland Park Apartments - UTILITIES INCLUDED
184 Old Park AveLexington, KY 40502
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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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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Showing Results 1-38, 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 | $1,326 | $825 | $2,003 |
| Downtown Lexington 1 Bedroom Apartments | $1,233 | $610 | $2,060 |
| Downtown Lexington 2 Bedroom Apartments | $1,340 | $854 | $2,885 |
| Downtown Lexington 3 Bedroom Apartments | $1,546 | $899 | $2,625 |
| Downtown Lexington 4 Bedroom Apartments | $1,338 | $739 | $2,780 |
Browse Apartments in this Neighborhood
There are currently 38 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 $806. 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 | $806 |
| 515 S Upper St | Near Campus | Studio,1BA | $825 |
| The Studios at Belmont - MAJOR UTILITIES INCL | Studio | Studio,1BA | $895 |
| Rosetown Apartments | Two Bedroom | 2BR,1BA | $900 |
| The Axis at 1435 | Studio | Studio,1BA | $920 |
| Rose Tower Apartments | One Bedroom | 1BR,1BA | $950 |
| Kampus Properties STUDENT HOUSING - 2024-'25 | 416 Aylesford Place #6 | 2BR,1BA | $998 |
| Hub Lexington Upper | 4x2 Balcony | 4BR,2BA | $1,075 |
| Trifecta on Red Mile - Newly Renovated! | Trifecta on Red Mile - One Bedroom | 1BR,1BA | $1,095 |
Best Value Apartments for Rent in Downtown Lexington, KY
As of September 14, 2025 the best value apartment in the Downtown Lexington area is the $1.83 price per square foot 4 x 3 Standard Model at Burley Properties in the in the Downtown Lexington neighborhood starting from $2,500. The second greatest value Downtown Lexington apartment is the Two Bedroom Model at The Stretch starting at $865 with a $0.88 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. |
|---|---|---|---|
| Burley Properties | 4 x 3 Standard | 4BR,3BA | $1.83 |
| The Stretch | Two Bedroom | 2BR,2BA | $0.88 |
| Latitude Lexington | 525: 1 Bed - 1 Bath | 1BR,1BA | $1.75 |
| Rosetown Apartments | Two Bedroom | 2BR,1BA | $1.19 |
| Hub Lexington Upper | 2x2 VIP | 2BR,2BA | $1.85 |
| Trifecta on Red Mile - Newly Renovated! | Trifecta on Red Mile - Two Bedroom | 2BR,1BA | $1.75 |
| Ferrill Square Apartments - 55+ Community | One Bedroom | 1BR,1BA | $1.22 |
| 515 S Upper St | Near Campus | Studio ,1BA | $1.38 |
| The Flats at 345 | 325 One Bedroom | 1BR,1BA | $2.11 |
| Rose Tower Apartments | One Bedroom | 1BR,1BA | $2.11 |
Quick Rent Budget Calculator
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Pet Friendly LifestyleDowntown Lexington, Lexington, KY
Ranked #45
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 $1,095.
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 $3,680.
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 37 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 $1,576 which is $2,104 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 Rental Move-In Inspection Checklist: A Guide for Renters
Written by: Trey Huguley
The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Written by: Christine Leonard, Esq.
For many people, obstacles can arise during the rental application process for a variety of issues.
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.