Cheap Homes for Rent in Melrose-oak Park Neighborhood of Lexington, KY from $1,200 (4 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Done

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

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.

Read Article

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.

Read Article
Showing Results 1-4, Page 1 of 1

Melrose-oak Park, Lexington, KY Local Guide

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

As of August 28, 2025 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 ListingModel NameBed/BathPrice Per Sq.Ft.
Trifecta on Red Mile - Newly Renovated!Trifecta on Red Mile - Two Bedroom2BR,1BA$1.75
Preakness ApartmentsP111BR,1BA$1.12
Ferrill Square Apartments - 55+ CommunityOne Bedroom1BR,1BA$1.22
Artek Lofts1 Bed, 1 Bath Flat1BR,1BA$2.32

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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
Melrose-Oak Park, Lexington, KY

Ranked #83

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

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

decorative image of woman handing cat to small boy

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 $740 to $1,515. There are also 11 Single Family Homes for rent, Condos, and Townhome rentals currently available in Melrose-oak Park ranging from $1,275 to $2,100.

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 $1,275 to $2,100 with an average monthly rent of $1,758.

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.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Lexington article

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.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

decorative image for Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting article

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

decorative image for Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.