Cheap Homes for Rent in Downtown Lexington Neighborhood of Lexington, KY from $900 (21 Rentals)

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Search the lowest-cost Homes available for rent right now in the Downtown Lexington 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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Showing Results 1-21, 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 VELO Lexington priced from $745. The Studios at Belmont - MAJOR UTILITIES INCL has the second lowest priced unit, which is a Studio apartment currently listed from $935. Here are the most affordable Downtown Lexington apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
VELO LexingtonNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
The Studios at Belmont - MAJOR UTILITIES INCLStudioStudio,1BA$935
The Axis at 1435StudioStudio,1BA$970
Preserve LexingtonA11BR,1BA$1,021
The Oaks at Woodland1 Bed, 1 bath1BR,1BA$1,171

Best Value Apartments for Rent in Downtown Lexington, KY

As of June 06, 2026 the best value apartment in the Downtown Lexington area is the $0.53 price per square foot 525: 4 bed - 4.5 Bath Model at Latitude Lexington in the in the Downtown Lexington neighborhood starting from $774. The second greatest value Downtown Lexington apartment is the Two Bedroom Model at The Flats at 345 starting at $1,775 with a $1.88 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.
Latitude Lexington525: 4 bed - 4.5 Bath4BR,4.5BA$0.53
The Flats at 345Two Bedroom2BR,2BA$1.88
326 E High St, Unit 2326 E High St3BR,1BA$1.67
Trifecta on Red Mile - Newly Renovated!Trifecta on Red Mile - Two Bedroom2BR,1BA$1.75
Belmont Run ApartmentsOne Bedroom1BR,1BA$1.63
The Oaks at Woodland1 Bed, 1 bath1BR,1BA$1.95
Artek Lofts1 Bed, 1 Bath Flat1BR,1BA$2.36
Preserve LexingtonA21BR,1BA$2.34
MidTown ApartmentsLimestone1BR,1BA$2.67
The Axis at 1435Studio CourtyardStudio ,1BA$2.58

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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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 489 Apartments for Rent in Downtown Lexington, KY with pricing that ranges from $695 to $11,680. There are also 51 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Lexington ranging from $925 to $5,000.

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 $925 to $5,000 with an average monthly rent of $2,774.

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 $1,000 to $2,600, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,450 to $2,900. Four Bedroom Single-Family rentals are also available starting from $1,550 and Four Bedroom Apartments start at $739.

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.

Helpful Local Expert Guides

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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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The Ultimate Lexington Student Housing Guide - Top Neighborhoods for Renting Near Major Universities

Written by: Catrina Cowart

I'm Catrina, your ApartmentHomeLiving.

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The Southern Spirit: Your Guide to Finding the Perfect Neighborhood to Rent in Lexington

Written by: Catrina Cowart

Hi, I’m Catrina, your ApartmentHomeLiving.com Local Expert for Lexington, Kentucky. Our team at ApartmentHomeLiving.

Articles, How-To's, and Tips

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Creative Ways Developers Reimagine Retail Spaces as Residential Units

Written by: Robin Stewart

Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

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Neighborhood and Market Insights: How to Choose the Right Area to Rent

Written by: Robin Stewart

Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

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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.