Cheap Apartments for Rent in the Open Gates Neighborhood of Lexington, KY from $500 (56 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Open Gates 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.

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

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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.

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2173 Cypress Dr
1 Bedroom Apartments

2173 Cypress Dr

2173 Cypress DrLexington, KY 40504
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Malabu Bridge Condos
1 Bedroom Apartments

Malabu Bridge Condos

828 Malabu DrLexington, KY 40502
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1356 Royalty Ct
1 to 2 Bedroom Apartments

1356 Royalty Ct

1356 Royalty CtLexington, KY 40504
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Medical View Properties
1 to 2 Bedroom Apartments

Medical View Properties

805 Press AveLexington, KY 40508
Student Housing
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Prime at Gardenside
1 to 4 Bedroom Apartments

Prime at Gardenside

2044 Georgian WayLexington, KY 40504
Student Housing
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University Flats
2 to 4 Bedroom Apartments

University Flats

1160 University DrLexington, KY 40526
Student Housing
  • Utilities Included

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.

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Open Gates, Lexington, KY Local Guide

Cheapest Available Open Gates Apartments for Rent

 

The cheapest available apartment rental in the Open Gates area of Lexington, KY is a 1 Bed unit found at VELO Lexington priced from $745. Emerson Center 62+ Senior Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $750. Here are the most affordable Open Gates apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
VELO LexingtonNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
Emerson Center 62+ Senior ApartmentsStudioStudio,1BA$750
The Vue Lexington1 Bed 1 Bath1BR,1BA$949
Regency Apartments at SouthlandTwo Bedroom/One Bath2BR,1BA$995
Shillito Park Apartments1 Bed 1 Bath1BR,1BA$995
Landing at MalabuMalabu Flat 8481BR,1BA$995
Flats at TurflandFlat - Kitchen Bar1BR,1BA$995
ElementThe Keeneland1BR,1BA$999
Lansdowne Grove Apartments1BR 1B Premium1BR,1BA$1,025
Bridle Creek ApartmentsA1 Chevy Chase - One Bedroom, One Bathroom1BR,1BA$1,080

Best Value Apartments for Rent in Open Gates, KY

As of May 28, 2026 the best value apartment in the Open Gates area is the $1.46 price per square foot C1 University - 3br - Three Bedroom, Two Bathroom Model at Bridle Creek Apartments in the in the The Meadows At Brannon Crossing neighborhood starting from $1,776. The second greatest value Open Gates apartment is the Guadalupe Model at Saddle Run Townhomes starting at $1,427 with a $1.33 price per square foot in the The Meadows At Brannon Crossing neighborhood. Here is today’s list of the best values for Open Gates apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Bridle Creek ApartmentsC1 University - 3br - Three Bedroom, Two Bathroom3BR,2BA$1.46
Saddle Run TownhomesGuadalupe2BR,1.5BA$1.33
Barrel Oaks ApartmentsStretch Out and Settle In To This 3 Bedroom, 2 ...3BR,2BA$1.31
Prime at GardensideThe Derby2BR,2BA$1.29
The Wellington2 Bedroom2BR,1BA$1.31
Shillito Park Apartments1 Bed 1 Bath1BR,1BA$1.24
Regency Apartments at SouthlandFurnished Executive Unit - 1B & 2B1BR,1BA$1.57
The Colony at the OaksThe Willow1BR,1BA$1.45
The Vue Lexington1 Bed 1 Bath1BR,1BA$1.58
Tates Creek VillageStudioStudio ,1BA$1.55

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.

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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.

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Pet Friendly Lifestyle
Open Gates, Lexington, KY

Ranked #19

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Open Gates, Lexington, KY

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals and neighborhoods across the USA, including Lexington. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including searching for the best amenities, and the best outdoor access, pet-friendly features, family-friendliness, proximity to transit, in addition to floorplans, availablity, and pricing. These search options are in the site filters at the top of this page.

Frequently Asked Questions about Cheap Open Gates Apartments

What is a cheap apartment in Open Gates?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Open Gates is under $1,080.

What is the price of a cheap apartment in Open Gates?

The cheapest apartment in Open Gates is VELO Lexington which is listed at $745, while the average apartment in Open Gates costs $1,799.

What types of apartments are the cheapest in Open Gates?

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 15 regular apartments in Open Gates 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 Open Gates?

Cheap apartments in Open Gates have an average cost of $300 which is $1,499 cheaper than the average rent for all rentals in Open Gates.

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

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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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The Ultimate Lexington Student Housing Guide - Top Neighborhoods for Renting Near Major Universities

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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

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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.

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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.

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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.

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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.