Cheap Homes for Rent in Lexington, KY from $700 (74 Rentals)

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Search the lowest-cost Homes available for rent right now in 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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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
property at 597 Delzan Pl

$1,149

Total Monthly Price

Total Monthly Price

Base Rent
$1,149
Total Monthly Price
$1,149

2 Bedroom, 1 Bath Townhome for Rent

Available Now

597 Delzan Pl

LexingtonKY40503
property at 3573 Laredo Dr

$929 - $1,199

2 Bedroom Rentals

Available Now

3573 Laredo Dr

LexingtonKY40517
property at 375 S Upper St

$1,200

1 Bedroom, 1 Bath Condo for Rent

Available Now

375 S Upper St

LexingtonKY40508

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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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Showing Results 1-50, Page 1 of 2

Lexington, KY Local Guide

Cheapest Neighborhoods for Apartments in Lexington, KY

Pricing Updated: 02/19/2026

Current apartment rentals in the Lexington, KY area range in price from $525 to $5,699 with an overall median price of $2,653. The three Lexington neighborhoods with the lowest median rent pricing are Melrose-oak Park at $525, Calumet at $620, and Ohio Chestnut Street at $800. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Lexington Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Melrose-oak Park$1,209$52510
Calumet$1,220$62016
Ohio Chestnut Street$1,295$80014
Tates Creek$1,349$92811
Castlewood$1,389$52578
Meadows - Loudon$1,450$8759
Outer East Lexington$1,450$62554
East Lexington$1,506$62589
North Broadway/short Street$1,554$73942
Beaumont Residential$1,667$62059

Cheapest Available Lexington Apartments for Rent

 

The cheapest available apartment rental in Lexington, KY is a 1 Bed unit found at 1901 Apartment Homes in the Beaumont Residential neighborhood priced from $620. BelleFontaine Apartment Homes in the Boone Creek neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $685. Here is today’s list of the most affordable Lexington apartments for rent:

Apartment ListingModel NameBed/BathPriced From
1901 Apartment Homes2 Bedroom, 1 Bathroom1BR,1BA$620
BelleFontaine Apartment Homes0-1Studio,1BA$685
Caballo Crossing1 Bedroom 1 Bath1BR,1BA$700
LongwoodJeffery2BR,2BA$730
The Landing at LexLand1.11BR,1BA$745
VELO - Waller AvenueNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
CedarwoodJonahStudio,1BA$749
Emerson Center 62+ Senior ApartmentsStudioStudio,1BA$750
Oxford Circleoxf 1.11BR,1BA$760

Best Value Apartments for Rent in Lexington, KY

As of February 19, 2026 the best value apartment in the Lexington area is the $0.92 price per square foot House Model at MidTown Apartments in the in the Montclair neighborhood starting from $1,445. The second greatest value Lexington apartment is the 3 Bedroom 2.5 Bath Model at The Pines starting at $1,500 with a $1.07 price per square foot in the Boone Creek 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.
MidTown ApartmentsHouse4BR,4BA$0.92
The Pines3 Bedroom 2.5 Bath3BR,2.5BA$1.07
Victory Point Apartments & Townhomes3 Bed Townhome New Construction3BR,2.5BA$0.91
Imperial Pointe2 Bedroom2BR,2BA$1.04
Elk River2B2B2BR,2BA$0.97
Twenty Two Twenty2 Bedrooms, 1.5 Bathrooms2BR,1.5BA$0.95
4044 Expo Ct, Lexington, KY, 40515-4682Covered front porch2BR,1BA$0.97
The Dawn Run Apartments2x1 SM2BR,1BA$1.08
1901 Apartment Homes2 Bedroom, 1 Bathroom1BR,1BA$0.83
Caballo Crossing1 Bedroom 1 Bath1BR,1BA$0.93

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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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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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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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 1098 Apartments for Rent in Lexington, KY with pricing that ranges from $525 to $5,699. There are also 277 Single Family Homes for rent, Condos, and Townhome rentals currently available in Lexington ranging from $750 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 $750 to $5,550 with an average monthly rent of $2,598.

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 $3,650, while Three Bedroom Homes, Condos, and Townhomes for rent range from $875 to $5,200. Four Bedroom Single-Family rentals are also available starting from $1,400 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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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.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.