Cheap Homes for Rent in Downtown Lexington Neighborhood of Lexington, KY from $800 (10 Rentals)

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

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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 - 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 ListingModel NameBed/BathPriced From
VELO - Waller AvenueNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
Ferrill Square Apartments - 55+ CommunityOne Bedroom1BR,1BA$806
Rose Tower ApartmentsOne Bedroom1BR,1BA$900

Best Value Apartments for Rent in Downtown Lexington, KY

As of August 03, 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 ListingModel NameBed/BathPrice Per Sq.Ft.
MidTown ApartmentsHouse4BR,4BA$1.55
Burley Properties4 x 3 Standard4BR,3BA$1.83
201 Price Rd, Unit Apt 223201 Price Rd1BR,1BA$1.22
Kampus Properties STUDENT HOUSING - 2024-'25416 Aylesford Place #62BR,1BA$1.33
Ferrill Square Apartments - 55+ CommunityOne Bedroom1BR,1BA$1.22
Trifecta on Red Mile - Newly Renovated!Trifecta on Red Mile - One Bedroom1BR,1BA$1.74
The Flats at 345325 One Bedroom1BR,1BA$2.11
Artek Lofts1 Bed, 1 Bath Flat1BR,1BA$2.32
Rose Tower ApartmentsOne Bedroom1BR,1BA$2.00
Preserve LexingtonA11BR,1BA$2.70

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Frequently Asked Questions about Downtown Lexington

What type of rentals are currently available in Downtown Lexington?

There are currently 477 Apartments for Rent in Downtown Lexington, KY with pricing that ranges from $610 to $5,247. There are also 30 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Lexington ranging from $850 to $3,600.

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 $850 to $3,600 with an average monthly rent of $1,963.

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 $875 to $5,247, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,299 to $2,100. Four Bedroom Single-Family rentals are also available starting from $1,675 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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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.

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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.

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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.