Cheap Apartments for Rent in the Georgetown Neighborhood of Lexington, KY from $400 (72 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Georgetown area of Lexington.

property at 402 Gunn St

$900 - $1,025

1 Bedroom Rentals

Available Now

402 Gunn St

LexingtonKY40508

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.

property at 123 Montmullin St

$1,100

Total Monthly Price

Total Monthly Price

Base Rent
$1,100

Total Monthly Price
$1,100

1 Bedroom, 1 Bath Home for Rent

Available Jul 1

123 Montmullin St

LexingtonKY40508
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The Paddock Apartments
$1,125 - $1,265
Total Monthly Price

Total Monthly Price

Base Rent
$1,125 - $1,265

Total Monthly Price
$1,125 - $1,265
1 to 2 Bedroom Apartments Available Now

The Paddock Apartments

416 Hollow Creek RdLexington, KY 40511
Affordability
  • Verified
  • Customer Reviewed
  • Utilities Included

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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Emerald Twenty Four
Rent Specials
$1,189 - $1,936
Total Monthly Price

Total Monthly Price

Base Rent
$1,189 - $1,936

Total Monthly Price
$1,189 - $1,936
Studio to 3 Bedroom Apartments Available Now

Emerald Twenty Four

1024 Greendale RdLexington, KY 40511
Student Housing
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  • Customer Reviewed
  • Utilities Included
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The Artisan
$1,250 - $1,924
Total Monthly Price

Total Monthly Price

Base Rent
$1,250 - $1,924

Total Monthly Price
$1,250 - $1,924
1 to 3 Bedroom Apartments Available May 23

The Artisan

2601 Sandersville RdLexington, KY 40511
Furnished
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  • Customer Reviewed
  • Utilities Included
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Park Plaza Apartments
$1,279 - $3,695
Total Monthly Price

Total Monthly Price

Base Rent
$1,279 - $3,695

Total Monthly Price
$1,279 - $3,695
Studio to 2 Bedroom Apartments Available Now

Park Plaza Apartments

120 E Main StLexington, KY 40507
Family Friendly
  • Verified
  • Customer Reviewed
  • Utilities Included
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Ashton Park Apartments
Rent Specials
$1,325 - $1,625
Total Monthly Price

Total Monthly Price

Base Rent
$1,325 - $1,625

Total Monthly Price
$1,325 - $1,625
1 to 2 Bedroom Apartments Available May 22

Ashton Park Apartments

2700 Magnolia Springs DrLexington, KY 40511
Corporate Housing
  • Verified
  • Customer Reviewed
  • Utilities Included
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Stonehurst Studios
Studio Apartments

Stonehurst Studios

256 Lyndhurst PlLexington, KY 40508
Student Housing
  • Utilities Included
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Hillrise Place
Studio Apartments

Hillrise Place

709 Hill Rise CtLexington, KY 40504

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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Kampus Terraces
Studio Apartments

Kampus Terraces

317 Transylvania ParkLexington, KY 40508
Student Housing
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Kampus Heights
Studio Apartments

Kampus Heights

350 Linden WalkLexington, KY 40508
Student Housing
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Preakness Apartments
1 to 3 Bedroom Apartments

Preakness Apartments

1707-1724 Versailles RdLexington, KY 40504
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St Martin Villa
1 to 2 Bedroom Apartments

St Martin Villa

412-422 Lima DrLexington, KY 40511
  • Utilities Included
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Oxford Circle
1 Bedroom Apartments

Oxford Circle

1805 Oxford CirLexington, KY 40504
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426 E High St
1 Bedroom Apartments

426 E High St

426 E High StLexington, KY 40507
Student Housing
  • Utilities Included

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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Stableview
2 Bedroom Apartments

Stableview

1050 Horsemans LnLexington, KY 40504
  • Utilities Included
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Derby Pointe
1 to 2 Bedroom Apartments

Derby Pointe

1218 Winburn DrLexington, KY 40511
  • Utilities Included
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Arlington Lofts
Studio to 1 Bedroom Apartments

Arlington Lofts

1001-1021 N Limestone StLexington, KY 40505
  • Utilities Included
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330 Newtown Apartments
1 to 3 Bedroom Apartments

330 Newtown Apartments

330 Newtown PikeLexington, KY 40508
  • Utilities Included
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Christian Tpwers
1 Bedroom Apartments

Christian Tpwers

1511 Versailles RdLexington, KY 40504
Senior Living
  • Utilities Included
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Whitney Woods
2 to 3 Bedroom Apartments

Whitney Woods

700 Whitney Woods PlLexington, KY 40504
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Fox Run Apartments
Studio to 3 Bedroom Apartments

Fox Run Apartments

1840 Mccullough DrLexington, KY 40511
  • Utilities Included
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Rose Tower Apartments
1 Bedroom Apartments

Rose Tower Apartments

137 Rose StLexington, KY 40507
Corporate Housing
  • Utilities Included

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

Georgetown, Lexington, KY Local Guide

Cheapest Available Georgetown Apartments for Rent

 

The cheapest available apartment rental in the Georgetown area of Lexington, KY is a 1 Bed unit found at Caballo Crossing priced from $730. Preakness Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $750. Here are the most affordable Georgetown apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
Caballo Crossing1 Bedroom 1 Bath1BR,1BA$730
Preakness ApartmentsP111BR,1BA$750
Oxford Circleoxf 1.11BR,1BA$760
Ferrill Square Apartments - 55+ CommunityOne Bedroom1BR,1BA$806
Senior Housing 55+ - Christian Towers IIStandard1BR,1BA$992
Preserve LexingtonA11BR,1BA$999
Alcove at Russell1 Bedroom1BR,1BA$1,075
Trifecta on Red Mile - Newly Renovated!Trifecta on Red Mile - One Bedroom1BR,1BA$1,095
Hub Lexington Upper4x2 Mansion4BR,2BA$1,115
The Paddock ApartmentsOne Bedroom1BR,1BA$1,125

Best Value Apartments for Rent in Georgetown, KY

As of April 22, 2026 the best value apartment in the Georgetown area is the $1.15 price per square foot 3 Bedroom 3 Bath Model at Alcove at Russell Cave in the in the Winburn neighborhood starting from $1,488. The second greatest value Georgetown apartment is the One Bedroom Model at The Paddock Apartments starting at $1,125 with a $1.32 price per square foot in the Winburn neighborhood. Here is today’s list of the best values for Georgetown apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Alcove at Russell Cave3 Bedroom 3 Bath3BR,2BA$1.15
The Paddock ApartmentsOne Bedroom1BR,1BA$1.32
Latitude Lexington525: 1 Bed - 1 Bath1BR,1BA$1.75
Alcove at Russell1 Bedroom1BR,1BA$1.43
Caballo Crossing1 Bedroom 1 Bath1BR,1BA$0.97
Trifecta on Red Mile - Newly Renovated!Trifecta on Red Mile - Two Bedroom2BR,1BA$1.75
Preakness ApartmentsP111BR,1BA$1.12
Ferrill Square Apartments - 55+ CommunityOne Bedroom1BR,1BA$1.22
Senior Housing 55+ - Christian Towers IIStandard1BR,1BA$1.59
Oxford Circleoxf 1.11BR,1BA$1.36

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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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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. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including rankings of the best places for outdoor amenities like tennis courts, luxury amenities, transit availability, pet-friendly communities, places to raise kids, in addition to floorplans, availablity, and pricing. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Georgetown Apartments

What is a cheap apartment in Georgetown?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Georgetown is under $1,125.

What is the price of a cheap apartment in Georgetown?

The cheapest apartment in Georgetown is Caballo Crossing which is listed at $730, while the average apartment in Georgetown costs $5,200.

What types of apartments are the cheapest in Georgetown?

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 35 regular apartments in Georgetown 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 Georgetown?

Cheap apartments in Georgetown have an average cost of $629 which is $4,571 cheaper than the average rent for all rentals in Georgetown.

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.

Articles, How-To's, and Tips

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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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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.

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Maximizing Your Refund: Essential Tax Tips for Renters

Written by: Christine Leonard, Esq.

Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.