208 Clyde St
LexingtonKY40508
Cheap Homes for Rent in Melrose-oak Park Neighborhood of Lexington, KY from $1,100 (2 Rentals)
Search the lowest-cost Homes available for rent right now in the Melrose-oak Park area of Lexington.
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.
1435 N Forbes Rd
LexingtonKY40511
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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Melrose-oak Park, Lexington, KY Local Guide
How much does it cost to rent a home in Melrose-oak Park?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Melrose-oak Park 2 Bedroom Homes for Rent | $1,661 | $1,100 | $2,900 |
| Melrose-oak Park 3 Bedroom Homes for Rent | $1,548 | $1,450 | $1,650 |
| Melrose-oak Park 4 Bedroom Homes for Rent | $2,715 | $1,795 | $4,500 |
Browse Homes for Rent in this Neighborhood
There are currently 2 rentals with your search options within a 1 mile radius of the Melrose-oak Park Neighborhood of Lexington, KY.
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Melrose-oak Park, Lexington, KY Local Guide
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Best Value Apartments for Rent in Melrose-oak Park, KY
As of May 31, 2026 the best value apartment in the Melrose-oak Park area is the $1.75 price per square foot Trifecta on Red Mile - Two Bedroom Model at Trifecta on Red Mile - Newly Renovated! in the in the Downtown Lexington neighborhood starting from $1,295. The second greatest value Melrose-oak Park apartment is the P11 Model at Preakness Apartments starting at $750 with a $1.12 price per square foot in the Beaumont Residential neighborhood. Here is today’s list of the best values for Melrose-oak Park apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Trifecta on Red Mile - Newly Renovated! | Trifecta on Red Mile - Two Bedroom | 2BR,1BA | $1.75 |
| Preakness Apartments | P11 | 1BR,1BA | $1.12 |
| Senior Housing 55+ - Christian Towers II | Standard | 1BR,1BA | $1.59 |
| Artek Lofts | 1 Bed, 1 Bath Flat | 1BR,1BA | $2.36 |
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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Real 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
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Pet Friendly LifestyleMelrose-Oak Park, Lexington, KY
Ranked #77
Among cities in Kentucky for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
2.5Pet Friendly
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 68 Apartments for Rent in Melrose-oak Park, KY with pricing that ranges from $525 to $1,740. There are also 15 Single Family Homes for rent, Condos, and Townhome rentals currently available in Melrose-oak Park ranging from $1,100 to $4,500.
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 $1,100 to $4,500 with an average monthly rent of $1,974.
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 $1,009 to $1,270, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,450 to $1,650. Four Bedroom Single-Family rentals are also available starting from $1,795 and Four Bedroom Apartments start at $959.
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
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.
Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts
Written by: Lauren Harrington
This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.