Cheap Homes for Rent in Lexington, KY from $700 (77 Rentals)

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property at 421 Redding Rd

421 Redding Rd

LexingtonKY40517

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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property at 3573 Laredo Dr

3573 Laredo Dr

LexingtonKY40517

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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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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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.

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Lexington, KY Local Guide

Cheapest Neighborhoods for Apartments in Lexington, KY

Pricing Updated: 12/11/2025

Current apartment rentals in the Lexington, KY area range in price from $725 to $5,550 with an overall median price of $3,378. The three Lexington neighborhoods with the lowest median rent pricing are Calumet at $725, Coolavin Park at $950, and Brucetown at $950. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Lexington Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Calumet$1,325$7256
Coolavin Park$1,395$95011
Brucetown$1,400$9508
Melrose-oak Park$1,622$90012
Cardinal Valley$1,650$7255
Meadowthorpe$1,725$1,6502
Lansdowne Merrick$1,800$1,5502
Gainesway$1,820$89515
Zandale$1,825$1,5006
Tates Creek$1,895$1,1256

Cheapest Available Lexington Apartments for Rent

 

The cheapest available apartment rental in Lexington, KY is a Studio unit found at BelleFontaine Apartment Homes in the Boone Creek neighborhood priced from $685. Longwood in the Boone Creek neighborhood has the second lowest priced unit, which is a 2 Beds apartment currently listed from $730. Here is today’s list of the most affordable Lexington apartments for rent:

Apartment ListingModel NameBed/BathPriced From
BelleFontaine Apartment Homes0-1Studio,1BA$685
LongwoodJeffery2BR,2BA$730
VELO - Waller AvenueNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
CedarwoodJonahStudio,1BA$749
Emerson Center 62+ Senior ApartmentsStudioStudio,1BA$750
1901 Apartment Homes2 Bedroom, 1 Bathroom1BR,1BA$755
Matador North ApartmentsStudioStudio,1BA$800
Twenty Two Twenty2 Bedrooms, 1.5 Bathrooms2BR,1BA$805
Ferrill Square Apartments - 55+ CommunityOne Bedroom1BR,1BA$806
4044 Expo Ct, Lexington, KY, 40515-4682Covered front porch2BR,1BA$825

Best Value Apartments for Rent in Lexington, KY

As of December 11, 2025 the best value apartment in the Lexington area is the $1.07 price per square foot 3 Bedroom 2.5 Bath Model at The Pines in the in the Boone Creek neighborhood starting from $1,500. The second greatest value Lexington apartment is the Three Bedroom Model at Georgetown Oaks Apartments starting at $1,465 with a $1.05 price per square foot in the Adena Ridge neighborhood. Here is today’s list of the best values for Lexington apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Pines3 Bedroom 2.5 Bath3BR,2.5BA$1.07
Georgetown Oaks ApartmentsThree Bedroom3BR,2BA$1.05
Imperial Pointe2 Bedroom2BR,2BA$1.04
The Colony at the OaksThe Cypress2BR,1.5BA$0.96
Caballo Crossing2 Bedroom 1 Bath2BR,1BA$0.95
The Dawn Run Apartments2x1 SM2BR,1BA$1.08
Twenty Two Twenty2 Bedrooms, 1.5 Bathrooms2BR,1.5BA$0.95
The Landing at LexLand2.152BR,1.5BA$1.05
4044 Expo Ct, Lexington, KY, 40515-4682Covered front porch2BR,1BA$0.97
1901 Apartment Homes2 Bedroom, 1 Bathroom1BR,1BA$1.01

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
Lexington, KY

Ranked #3

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Lexington, KY Rentals by Map

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See the most popular apartments and homes in Lexington, KY

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Lexington, KY Area Reviews

  • Parks
  • Entertainment
  • Local Vibes
  • Restaurants
  • Location
  • Traffic
  • Public Transportation
  • Outdoor Access
  • Cost of Living
  • Safety

Catrina • 4+ years in Lexington

February 25, 2025

Lexington is a great place for people of all types. It is, interestingly, highly bilingual, with many Spanish-speaking residents. Public transportation throughout Lexington is not the best, and the cost of living has skyrocketed in recent years. That being said, it is very safe for a city, and while I've experienced petty theft twice, both times were because I had left my vehicle unlocked at an apartment complex. The outdoor areas are beautiful here, and there are more restaurants than you'd know what to do with. Overall, you get modern amenities with a southern touch.

Frequently Asked Questions about Lexington

What type of rentals are currently available in Lexington?

There are currently 1090 Apartments for Rent in Lexington, KY with pricing that ranges from $595 to $5,699. There are also 305 Single Family Homes for rent, Condos, and Townhome rentals currently available in Lexington ranging from $725 to $5,550.

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

Today's rental pricing for Homes for Rent, Condos and Townhomes in Lexington ranges from $725 to $5,550 with an average monthly rent of $2,778.

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

For those who are looking for larger living arrangements, Three Bedroom Apartments in Lexington range from $854 to $3,400, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,199 to $5,200. Four Bedroom Single-Family rentals are also available starting from $1,450 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.

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!