Cheap Apartments for Rent in the Outer Southwest Lexington Neighborhood of Lexington, KY from $500 (36 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Outer Southwest Lexington area of Lexington.

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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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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Lansdowne Grove
Studio to 2 Bedroom Apartments

Lansdowne Grove

3489 Lansdowne DrLexington, KY 40517
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University Flats
2 to 4 Bedroom Apartments

University Flats

1160 University DrLexington, KY 40526
Student Housing
  • Utilities Included

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Showing Results 1-36, Page 1 of 1

Outer Southwest Lexington, Lexington, KY Local Guide

Cheapest Available Outer Southwest Lexington Apartments for Rent

 

The cheapest available apartment rental in the Outer Southwest Lexington area of Lexington, KY is a 1 Bed unit found at VELO - Waller Avenue 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 Outer Southwest Lexington apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
VELO - Waller AvenueNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
Emerson Center 62+ Senior ApartmentsStudioStudio,1BA$750
Tates Creek Village1 Bedroom 1 Bathroom1BR,1BA$850
Flats at TurflandFlat - Open Kitchen1BR,1BA$895
Chelsea Apartments1 Bedroom1BR,1BA$895
Brookhaven Apartments1 Bedroom/1 Bath1BR,1BA$895
The MetropolitanWoodford1BR,1BA$926
Lansdowne ApartmentsLarge 1BR/1BA1BR,1BA$940
Landing at MalabuMalabu Flat 8481BR,1BA$945
Canter PointeAffirmed - 1x11BR,1BA$949

Best Value Apartments for Rent in Outer Southwest Lexington, KY

As of January 03, 2026 the best value apartment in the Outer Southwest Lexington area is the $1.17 price per square foot The Cypress Model at The Colony at the Oaks in the in the Lansdowne neighborhood starting from $1,229. The second greatest value Outer Southwest Lexington apartment is the 2 Bd 2 Bth 858 sf (b1) Model at Breckinridge Court starting at $1,265 with a $1.47 price per square foot in the The Meadows At Brannon Crossing neighborhood. Here is today’s list of the best values for Outer Southwest Lexington apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Colony at the OaksThe Cypress2BR,1.5BA$1.17
Breckinridge Court2 Bd 2 Bth 858 sf (b1)2BR,2BA$1.47
Shillito Park Apartments1 Bed 1 Bath1BR,1BA$1.24
3411 Spangler Dr, Unit B3411 Spangler Dr2BR,1BA$1.46
Barrel Oaks ApartmentsCozy Cul de Sac Apartment with Barrel Oaks Amen...2BR,1BA$1.40
The MetropolitanWoodford1BR,1BA$1.31
The Wellington1 Bedroom1BR,1BA$1.42
Canter PointeAffirmed - 1x11BR,1BA$1.36
Chelsea Apartments1 Bedroom1BR,1BA$1.39
Tates Creek Village1 Bedroom 1 Bathroom1BR,1BA$1.37

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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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.

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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.

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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.

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Best Local Schools in
Outer Southwest Lexington, Lexington, KY

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals in cities across the United States and customized analysis for Southwest Central Lexington, KY. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including rankings of the best places for easy access to the parks, luxury amenities, family-friendly amenities, raising pets, transit options, and how walkable or bikeable each community and area is. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap Outer Southwest Lexington Apartments

What is a cheap apartment in Outer Southwest Lexington?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Outer Southwest Lexington is under $949.

What is the price of a cheap apartment in Outer Southwest Lexington?

The cheapest apartment in Outer Southwest Lexington is VELO - Waller Avenue which is listed at $745, while the average apartment in Outer Southwest Lexington costs $5,000.

What types of apartments are the cheapest in Outer Southwest Lexington?

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 26 regular apartments in Outer Southwest Lexington 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 Outer Southwest Lexington?

Cheap apartments in Outer Southwest Lexington have an average cost of $316 which is $4,684 cheaper than the average rent for all rentals in Outer Southwest Lexington.

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.

Articles, How-To's, and Tips

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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 Make Your Apartment Holiday-Ready: Renter-Friendly Tips

Written by: Justin Habersaat

Getting your apartment ready for the holidays can be exciting but sometimes challenging in a smaller space. Here are some modern tips to keep things festive, safe, and inviting this season.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

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Apartment Common Area Rules: What Renters Need to Know

Written by: Christine Leonard, Esq.

Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.