Cheap Apartments for Rent in the Highlands Neighborhood of Lexington, KY from $500 (16 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Highlands 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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Wood Edge Villas
1 to 3 Bedroom Apartments

Wood Edge Villas

2781 Jacquelyn LnLexington, KY 40511
  • Utilities Included
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St Martin Villa
1 to 2 Bedroom Apartments

St Martin Villa

412-422 Lima DrLexington, KY 40511
  • Utilities Included

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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Derby Pointe
1 to 2 Bedroom Apartments

Derby Pointe

1218 Winburn DrLexington, KY 40511
  • Utilities Included
Showing Results 1-16, Page 1 of 1

Highlands, Lexington, KY Local Guide

Cheapest Available Highlands Apartments for Rent

 

The cheapest available apartment rental in the Highlands area of Lexington, KY is a Studio unit found at Matador North Apartments priced from $800. 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 Highlands apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
Matador North ApartmentsStudioStudio,1BA$800
Ferrill Square Apartments - 55+ CommunityOne Bedroom1BR,1BA$806
Kearney Ridge - Affordable HousingOne Bedroom1BR,1BA$885
The Paddock ApartmentsOne Bedroom1BR,1BA$1,125
FIFTEEN51 Apartments of LexingtonBarrelStudio,1BA$1,299

Best Value Apartments for Rent in Highlands, KY

As of December 23, 2025 the best value apartment in the Highlands area is the $1.27 price per square foot 3 Bedroom Townhomes + Garage FOR NOV Model at Emerald Twenty Four in the in the Georgetown neighborhood starting from $1,909. The second greatest value Highlands apartment is the 2609 Bourbon Walk Model at Citation Lofts starting at $2,200 with a $1.47 price per square foot in the St. Martins Village neighborhood. Here is today’s list of the best values for Highlands apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Emerald Twenty Four3 Bedroom Townhomes + Garage FOR NOV3BR,2.5BA$1.27
Citation Lofts2609 Bourbon Walk2BR,2BA$1.47
The Artisan2 bedroom apt2BR,2BA$1.29
Gated Villa Apartments at KearneyTwo Bedroom2BR,2BA$1.38
Ashton Park ApartmentsAcacia2BR,2BA$1.49
The Paddock ApartmentsOne Bedroom1BR,1BA$1.32
Matador North Apartments1 Bedroom, 1 Bathroom1BR,1BA$1.25
Kearney Ridge - Affordable HousingOne Bedroom1BR,1BA$1.21
Ferrill Square Apartments - 55+ CommunityOne Bedroom1BR,1BA$1.22
FIFTEEN51 Apartments of LexingtonBarrelStudio ,1BA$2.59

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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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
Highlands, Lexington, KY

School data provided by Great Schools

Frequently Asked Questions about Cheap Highlands Apartments

What is the price of a cheap apartment in Highlands?

The cheapest apartment in Highlands is Ferrill Square Apartments - 55+ Community which is listed at $806, while the average apartment in Highlands costs $1,909.

What types of apartments are the cheapest in Highlands?

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 5 regular apartments in Highlands 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 Highlands?

Cheap apartments in Highlands have an average cost of $155 which is $1,754 cheaper than the average rent for all rentals in Highlands.

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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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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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!