
Cheap Apartments for Rent in the North Elizabeth St Neighborhood of Lexington, KY from $400 (40 Rentals)
Search the lowest-cost Apartments available for rent right now in the North Elizabeth St area of Lexington.


VELO Lexington

422 Aylesford Pl, Unit 7, Unit 7

Davis Park Station

The Studios at Belmont - MAJOR UTILITIES INCL

The Axis at 1435

807 Press Ave, Unit 1, Unit 1

148 Shawnee Pl
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.

217-219-219 Norway St

Belmont Run Apartments

Preserve Lexington

Total Monthly Price
Studios340 - All Inclusive Pricing

Total Monthly Price
Park Plaza Apartments

Gateway Lofts Lexington

260 Lexington Avenue

312 S Upper St
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.

127 Gazette Ave, Unit 1, Unit 1

Total Monthly Price
326 E High St, Unit 2, Unit 2

Stonehurst Studios

Walton Place Apartments

Imperial Studio Apartments

Kampus Terraces

1356 Royalty Ct

Kampus Heights
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.

426 E High St

Medical View Properties

Stableview

Bluegrass Commons

Rose Tower Apartments

University Flats

Medical Villas

342 Waller Ave
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.

Kampus Townhouses

Kampus Park

271 Lexington Ave

476 Bob O Link Dr

Red Mile Square Townhomes

316 Transylvania Park

1100 Horsemans Ln

425 Gibson Ave
The Southern Spirit: Your Guide to Finding the Perfect Area of Lexington to Rent
Discover Lexington's unique balance of lively downtown growth, university energy, and friendly Southern spirit. A local guide to neighborhoods, dining, and outdoor life.
North Elizabeth St, Lexington, KY Local Guide

How much does it cost to rent an apartment in North Elizabeth St?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| North Elizabeth St Studio Apartments | $1,447 | $669 | $2,407 |
| North Elizabeth St 1 Bedroom Apartments | $3,002 | $745 | $10,000+ |
| North Elizabeth St 2 Bedroom Apartments | $1,602 | $999 | $2,089 |
| North Elizabeth St 3 Bedroom Apartments | $1,642 | $1,009 | $2,600 |
| North Elizabeth St 4 Bedroom Apartments | $1,392 | $739 | $2,900 |
Browse Apartments in this Neighborhood
There are currently 40 rentals with your search options within a 1 mile radius of the North Elizabeth St Neighborhood of Lexington, KY.
See all Apartments in LexingtonExplore Lexington
North Elizabeth St, Lexington, KY Local Guide
- Nearby Lexington neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available North Elizabeth St Apartments for Rent
 The cheapest available apartment rental in the North Elizabeth St area of Lexington, KY is a 1 Bed unit found at VELO Lexington priced from $745. The Axis at 1435 has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,115. Here are the most affordable North Elizabeth St apartments for rent in Lexington, KY:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| VELO Lexington | NEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO... | 1BR,1BA | $745 |
| The Axis at 1435 | One Bedroom Courtyard | 1BR,1BA | $1,115 |
| MidTown Apartments | Limestone | 1BR,1BA | $1,200 |
| Preserve Lexington | A1 | 1BR,1BA | $1,235 |
| Studios340 - All Inclusive Pricing | Studio | Studio,1BA | $1,255 |
| Park Plaza Apartments | Maxwell | Studio,1BA | $1,279 |
| Gateway Lofts Lexington | Young | Studio,1BA | $1,344 |
| 1729 Midtown | 2x1 | 2BR,1BA | $1,800 |
Best Value Apartments for Rent in North Elizabeth St, KY
As of May 19, 2026 the best value apartment in the North Elizabeth St area is the $0.53 price per square foot 525: 4 bed - 4.5 Bath Model at Latitude Lexington in the in the Downtown Lexington neighborhood starting from $774. The second greatest value North Elizabeth St apartment is the 326 E High St Model at 326 E High St, Unit 2 starting at $1,500 with a $1.67 price per square foot in the Northside Historic Residential neighborhood. Here is today’s list of the best values for North Elizabeth St apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Latitude Lexington | 525: 4 bed - 4.5 Bath | 4BR,4.5BA | $0.53 |
| 326 E High St, Unit 2 | 326 E High St | 3BR,1BA | $1.67 |
| 1729 Midtown | 2x1 | 2BR,1BA | $2.43 |
| MidTown Apartments | Limestone | 1BR,1BA | $2.50 |
| Gateway Lofts Lexington | Young | Studio ,1BA | $2.94 |
| The Axis at 1435 | One Bedroom Courtyard | 1BR,1BA | $2.52 |
| Preserve Lexington | A1 | 1BR,1BA | $2.79 |
| Park Plaza Apartments | Maxwell | Studio ,1BA | $3.35 |
| Limestone Square/Medical Villas | Studio | Studio ,1BA | $3.23 |
| VELO Lexington | FULLY FURNISHED, NEWLY RENOVATED, AFFORDABLE ST... | 1BR,1BA | $3.34 |
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 LifestyleNorth Elizabeth St, Lexington, KY
Ranked #51
Among cities in Kentucky for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet Friendly
Best Local Schools in North Elizabeth St, Lexington, KY
School data provided by Great Schools
Lifestyle Ratings
ApartmentHomeLiving.com is proud to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals in cities across the United States, including Lexington. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including filtering automatically for convenient access to the outdoors, luxury housing options, places to raise kids, raising pets, transit options, and how walkable or bikeable each community and area is. These search options are in the site filters at the top of this page.
Frequently Asked Questions about Cheap North Elizabeth St Apartments
What is a cheap apartment in North Elizabeth St?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in North Elizabeth St is under $1,800.
What is the price of a cheap apartment in North Elizabeth St?
The cheapest apartment in North Elizabeth St is VELO Lexington which is listed at $745, while the average apartment in North Elizabeth St costs $4,850.
What types of apartments are the cheapest in North Elizabeth St?
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 25 regular apartments in North Elizabeth St 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 North Elizabeth St?
Cheap apartments in North Elizabeth St have an average cost of $833 which is $4,017 cheaper than the average rent for all rentals in North Elizabeth St.
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

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.

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.