
Cheap Apartments for Rent in the Masterson Station Neighborhood of Lexington, KY from $600 (19 Rentals)
Search the lowest-cost Apartments available for rent right now in the Masterson Station area of Lexington.


The Oasis at Kearney Creek - Senior 55+

Total Monthly Price
Kearney Ridge - Affordable Housing

Westchester on the Circle - NO VACANCY

Total Monthly Price
Emerald Twenty Four

Gated Villa Apartments at Kearney
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.

Total Monthly Price
The Artisan

Total Monthly Price
Ashton Park Apartments

Total Monthly Price
The Village at Great Acres

The Charles at Coventry

Total Monthly Price
Trailside at McConnells Trace

Wood Edge Villas
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.

Oakdale Apartments

Sandersville Townhomes

2740 Hayden Park Ln

2720 Hayden Park Ln

2765 Mable Ln

1137 Marlena Ln
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.

613 Havana Ct
Masterson Station, Lexington, KY Local Guide

How much does it cost to rent an apartment in Masterson Station?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Masterson Station Studio Apartments | $1,189 | $1,189 | $1,189 |
| Masterson Station 1 Bedroom Apartments | $1,356 | $770 | $1,572 |
| Masterson Station 2 Bedroom Apartments | $1,863 | $905 | $3,000 |
| Masterson Station 3 Bedroom Apartments | $1,976 | $1,260 | $2,530 |
| Masterson Station 4 Bedroom Apartments | $2,210 | $2,210 | $2,210 |
Browse Apartments in this Neighborhood
There are currently 19 rentals with your search options within a 2 mile radius of the Masterson Station Neighborhood of Lexington, KY.
See all Apartments in LexingtonExplore Lexington
Masterson Station, Lexington, KY Local Guide
- Nearby Lexington neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Masterson Station Apartments for Rent
 The cheapest available apartment rental in the Masterson Station area of Lexington, KY is a 1 Bed unit found at Kearney Ridge - Affordable Housing priced from $885. Gated Villa Apartments at Kearney has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,200. Here are the most affordable Masterson Station apartments for rent in Lexington, KY:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Kearney Ridge - Affordable Housing | One Bedroom | 1BR,1BA | $885 |
| Gated Villa Apartments at Kearney | 1BR/ 1 BA | 1BR,1BA | $1,200 |
| The Village at Great Acres | Carson | 1BR,1BA | $1,362 |
| Emerald Twenty Four | 3 BR Apt. | 3BR,2BA | $1,765 |
| Trailside at McConnells Trace | Madison A | 3BR,2BA | $1,835 |
Best Value Apartments for Rent in Masterson Station, KY
As of June 06, 2026 the best value apartment in the Masterson Station area is the $1.29 price per square foot 3 BR Townhome + Garage Model at Emerald Twenty Four in the in the Georgetown neighborhood starting from $1,936. The second greatest value Masterson Station apartment is the 186 Robinson Way Model at Citation Lofts starting at $3,000 with a $2.00 price per square foot in the St. Martins Village neighborhood. Here is today’s list of the best values for Masterson Station apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Emerald Twenty Four | 3 BR Townhome + Garage | 3BR,2.5BA | $1.29 |
| Citation Lofts | 186 Robinson Way | 2BR,2BA | $2.00 |
| Trailside at McConnells Trace | Rockwell | 3BR,2.5BA | $1.60 |
| Gated Villa Apartments at Kearney | 2 BR / 2BA | 2BR,2BA | $1.57 |
| Kearney Ridge - Affordable Housing | One Bedroom | 1BR,1BA | $1.21 |
| The Village at Great Acres | Kenton | 1BR,1BA | $2.58 |
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.
Read ArticleReal Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University
From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.
Read ArticleQuick 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.
Pet Friendly LifestyleMasterson Station, Lexington, KY
Ranked #55
Among cities in Kentucky for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
2.5Pet Friendly
Frequently Asked Questions about Cheap Masterson Station Apartments
What is the price of a cheap apartment in Masterson Station?
The cheapest apartment in Masterson Station is Kearney Ridge - Affordable Housing which is listed at $885, while the average apartment in Masterson Station costs $2,210.
What types of apartments are the cheapest in Masterson Station?
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 Masterson Station 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 Masterson Station?
Cheap apartments in Masterson Station have an average cost of $450 which is $1,760 cheaper than the average rent for all rentals in Masterson Station.
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.
Helpful Local Expert Guides

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.

The Ultimate Lexington Student Housing Guide - Top Neighborhoods for Renting Near Major Universities
Written by: Catrina Cowart
I'm Catrina, your ApartmentHomeLiving.

The Southern Spirit: Your Guide to Finding the Perfect Neighborhood to Rent in Lexington
Written by: Catrina Cowart
Hi, I’m Catrina, your ApartmentHomeLiving.com Local Expert for Lexington, Kentucky. Our team at ApartmentHomeLiving.
Articles, How-To's, and Tips

Pet-Friendly Renting: Everything You Need to Know Before You Move
Written by: Christine Leonard, Esq.
For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.

Creative Ways Developers Reimagine Retail Spaces as Residential Units
Written by: Robin Stewart
Adaptive reuse is when a commercial property is converted and repurposed. The real estate industry has embraced a growing number of these projects.

Neighborhood and Market Insights: How to Choose the Right Area to Rent
Written by: Robin Stewart
Apartment-hunting can be a gargantuan task. Renters have a wish list of items—some luxuries, some necessities—but finding what you seek in the right place is perhaps the most important part of the journey.

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back
Written by: Lauren Harrington
I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.