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

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Search the lowest-cost Apartments available for rent right now in the Outer Southwest Lexington 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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Barrel Oaks Apartments
Rent Specials
$969 - $1,399
Total Monthly Price

Total Monthly Price

Base Rent
$969 - $1,399
Total Monthly Price
$969 - $1,399
1 to 3 Bedroom Apartments Available Now

Barrel Oaks Apartments

249 E Reynolds RdLexington, KY 40517
Student Housing
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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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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.

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The Art of the Rental Viewing: What to look for during a property tour

Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.

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2173 Cypress Dr
1 Bedroom Apartments

2173 Cypress Dr

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

Malabu Bridge Condos

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

1356 Royalty Ct

1356 Royalty CtLexington, KY 40504
  • Utilities Included
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Merrick Place
1 to 3 Bedroom Apartments

Merrick Place

3260 Commodore DrLexington, KY 40502
  • 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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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 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 Outer Southwest Lexington 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
Tates Creek Village1 Bedroom 1 Bathroom1BR,1BA$850
Breckinridge CourtStudio 460 sf (st2)1BR,1BA$875
Lansdowne Grove Apartments1BD/ 1 BA1BR,1BA$900
The Callaway1x1-A1BR,1BA$920
Flats at TurflandFlat - Open Kitchen1BR,1BA$945
The Vue Lexington1 Bed 1 Bath1BR,1BA$949
Barrel Oaks ApartmentsTimeless One Bedroom with the Willow1BR,1BA$969
Canter PointeAffirmed - 1x11BR,1BA$975

Best Value Apartments for Rent in Outer Southwest Lexington, KY

As of April 12, 2026 the best value apartment in the Outer Southwest Lexington 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 Outer Southwest Lexington apartment is the 2 Bed 2 Bath Model at Shillito Park Apartments starting at $1,295 with a $1.15 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.
Bridle Creek ApartmentsC1 University - 3br - Three Bedroom, Two Bathroom3BR,2BA$1.46
Shillito Park Apartments2 Bed 2 Bath2BR,2BA$1.15
Saddle Run TownhomesGuadalupe2BR,1.5BA$1.06
The Colony at the OaksThe Cypress2BR,1.5BA$1.22
2204 Winterberry Dr, Unit Side A2204 Winterberry Dr2BR,1BA$1.11
Rivers at BluegrassClassic 1 Bed / 1 Bath1BR,1BA$1.37
The Wellington1 Bedroom1BR,1BA$1.42
Canter PointeAffirmed - 1x11BR,1BA$1.39
The Callaway1x1-A1BR,1BA$1.34
Tates Creek Village1 Bedroom 1 Bathroom1BR,1BA$1.37

10 Hidden Costs of Renting You Should Budget for Before Signing a Lease

Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.

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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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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.

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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 $975.

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

The cheapest apartment in Outer Southwest Lexington is VELO Lexington which is listed at $745, while the average apartment in Outer Southwest Lexington costs $1,776.

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 33 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 $175 which is $1,601 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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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.

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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.

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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.