Cheap Homes for Rent in Melrose-oak Park Neighborhood of Lexington, KY from $1,200 (7 Rentals)

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Search the lowest-cost Homes available for rent right now in the Melrose-oak Park area of Lexington.

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 Article

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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Showing Results 1-7, Page 1 of 1

Melrose-oak Park, Lexington, KY Local Guide

Cheapest Available Melrose-oak Park Apartments for Rent

 

The cheapest available apartment rental in the Melrose-oak Park area of Lexington, KY is a 1 Bed unit found at Ferrill Square Apartments - 55+ Community priced from $806. Trifecta on Red Mile - Newly Renovated! has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,095. Here are the most affordable Melrose-oak Park apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
Ferrill Square Apartments - 55+ CommunityOne Bedroom1BR,1BA$806
Trifecta on Red Mile - Newly Renovated!Trifecta on Red Mile - One Bedroom1BR,1BA$1,095
Artek Lofts1 Bed, 1 Bath Flat1BR,1BA$1,160

Best Value Apartments for Rent in Melrose-oak Park, KY

As of October 14, 2025 the best value apartment in the Melrose-oak Park area is the $1.57 price per square foot Churchill Model at Townley Park Apartments in the in the Georgetown neighborhood starting from $1,335. The second greatest value Melrose-oak Park apartment is the Trifecta on Red Mile - Two Bedroom Model at Trifecta on Red Mile - Newly Renovated! starting at $1,295 with a $1.75 price per square foot in the Downtown Lexington neighborhood. Here is today’s list of the best values for Melrose-oak Park apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Townley Park ApartmentsChurchill2BR,2BA$1.57
Trifecta on Red Mile - Newly Renovated!Trifecta on Red Mile - Two Bedroom2BR,1BA$1.75
Ferrill Square Apartments - 55+ CommunityOne Bedroom1BR,1BA$1.22
Artek Lofts1 Bed, 1 Bath Flat1BR,1BA$2.32

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Pet Friendly Lifestyle
Melrose-Oak Park, Lexington, KY

Ranked #81

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Best Local Schools in
Melrose-Oak Park, Lexington, KY

School data provided by Great Schools

Frequently Asked Questions about Melrose-oak Park

What type of rentals are currently available in Melrose-oak Park?

There are currently 69 Apartments for Rent in Melrose-oak Park, KY with pricing that ranges from $525 to $1,665. There are also 17 Single Family Homes for rent, Condos, and Townhome rentals currently available in Melrose-oak Park ranging from $1,250 to $3,000.

What is the current price range for Rental Homes in Melrose-oak Park?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Melrose-oak Park ranges from $1,250 to $3,000 with an average monthly rent of $1,665.

How much are larger Three and Four Bedroom Rentals in Melrose-oak Park?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Melrose-oak Park range from $939 to $1,250, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,250 to $1,850. Four Bedroom Single-Family rentals are also available starting from $1,650 and Four Bedroom Apartments start at $839.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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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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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.