Cheap Homes for Rent in Downtown Lexington Neighborhood of Lexington, KY from $900 (20 Rentals)

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Search the lowest-cost Homes available for rent right now in the Downtown Lexington area of Lexington.

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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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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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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property at 161 Preston Ave

161 Preston Ave

LexingtonKY40502
Showing Results 1-20, Page 1 of 1

Downtown Lexington, Lexington, KY Local Guide

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 MidTown Apartments priced from $610. VELO - Waller Avenue has the second lowest priced unit, which is a 1 Bed apartment currently listed from $745. Here are the most affordable Downtown Lexington apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
MidTown ApartmentsBedroom1BR,1BA$610
VELO - Waller AvenueNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
Ferrill Square Apartments - 55+ CommunityOne Bedroom1BR,1BA$806
The Studios at Belmont - MAJOR UTILITIES INCLStudioStudio,1BA$895
Rosetown ApartmentsTwo Bedroom2BR,1BA$900

Best Value Apartments for Rent in Downtown Lexington, KY

As of November 10, 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 Flats at 345 starting at $1,725 with a $1.82 price per square foot in the Northside Historic Residential neighborhood. Here is today’s list of the best values for Downtown Lexington apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Burley Properties4 x 3 Standard4BR,3BA$1.83
The Flats at 345Two Bedroom2BR,2BA$1.82
Latitude Lexington525: 1 Bed - 1 Bath1BR,1BA$1.75
Preserve LexingtonA31BR,1BA$1.75
Rosetown ApartmentsTwo Bedroom2BR,1BA$1.19
Hub Lexington Upper2x2 VIP2BR,2BA$1.85
Trifecta on Red Mile - Newly Renovated!Trifecta on Red Mile - Two Bedroom2BR,1BA$1.75
Belmont Run ApartmentsOne Bedroom1BR,1BA$1.56
Ferrill Square Apartments - 55+ CommunityOne Bedroom1BR,1BA$1.22
MidTown ApartmentsBedroom1BR,1BA$1.43

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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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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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
Downtown Lexington, Lexington, KY

Ranked #36

Among cities in Kentucky for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Downtown Lexington, Lexington, KY

School data provided by Great Schools

Frequently Asked Questions about Downtown Lexington

What type of rentals are currently available in Downtown Lexington?

There are currently 492 Apartments for Rent in Downtown Lexington, KY with pricing that ranges from $595 to $5,000. There are also 63 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Lexington ranging from $975 to $4,500.

What is the current price range for Rental Homes in Downtown Lexington?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Lexington ranges from $975 to $4,500 with an average monthly rent of $2,708.

How much are larger Three and Four Bedroom Rentals in Downtown Lexington?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Lexington range from $989 to $2,100, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,250 to $2,995. Four Bedroom Single-Family rentals are also available starting from $1,550 and Four Bedroom Apartments start at $739.

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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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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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.