Cheap Apartments for Rent in the Outer Southwest Lexington Neighborhood of Lexington, KY from $500 (62 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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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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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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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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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
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1356 Royalty Ct
1 to 2 Bedroom Apartments

1356 Royalty Ct

1356 Royalty CtLexington, KY 40504
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University Flats
2 to 4 Bedroom Apartments

University Flats

1160 University DrLexington, KY 40526
Student Housing
  • Utilities Included
property at 3573 Laredo Dr

$929 - $1,199

2 Bedroom Rentals

Available Now

3573 Laredo Dr

LexingtonKY40517

Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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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 Studio unit found at Emerson Center 62+ Senior Apartments priced from $750. Wellington Park Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $775. Here are the most affordable Outer Southwest Lexington apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
Emerson Center 62+ Senior ApartmentsStudioStudio,1BA$750
Wellington Park ApartmentsOne Bed One Bath1BR,1BA$775
Lansdowne ApartmentsSmall 1BR/1BA1BR,1BA$865
Brookhaven Apartments1 Bedroom/1 Bath1BR,1BA$895
Chelsea Apartments1 Bedroom1BR,1BA$895
Rivers at BluegrassRenovated 1 Bed / 1 Bath1BR,1BA$900
The Callaway1x1-B1BR,1BA$955
The Axis at 1435StudioStudio,1BA$970
Regency Apartments at SouthlandOne Bedroom with Bonus Room1BR,1BA$995
Flats at TurflandFlat - Kitchen Bar1BR,1BA$995

Best Value Apartments for Rent in Outer Southwest Lexington, KY

As of July 12, 2026 the best value apartment in the Outer Southwest Lexington area is the $1.33 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 $1,615. The second greatest value Outer Southwest Lexington apartment is the 2 Bedroom w/ Study Model at Limestone Square/Medical Villas starting at $1,240 with a $1.31 price per square foot in the Montclair 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$1.33
Limestone Square/Medical Villas2 Bedroom w/ Study2BR,2BA$1.31
Canter PointeSecretariat - 2x22BR,2BA$1.16
MAA MansionBradford2BR,1BA$1.35
Breckinridge Court2 Bd 2 Bth 858 sf (b1)2BR,2BA$1.38
Prime at GardensideB12BR,1BA$1.31
Shillito Park Apartments1 Bed 1 Bath1BR,1BA$1.24
The Callaway1x1-B1BR,1BA$1.21
Rivers at BluegrassRenovated 1 Bed / 1 Bath1BR,1BA$1.20
Wellington Park ApartmentsOne Bed One Bath1BR,1BA$1.21

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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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 $995.

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

The cheapest apartment in Outer Southwest Lexington is Wellington Park Apartments which is listed at $775, while the average apartment in Outer Southwest Lexington costs $1,813.

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 19 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 $588 which is $1,225 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.

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

Written by: Catrina Cowart

I'm Catrina, your ApartmentHomeLiving.

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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.

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Horses, Hoops, and a Short Commute: Renting Near Lexington's Top Employers

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Hi, I’m Catrina, your ApartmentHomeLiving.com Local Expert for Lexington, Kentucky.

Articles, How-To's, and Tips

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

Written by: Robin Stewart

There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.