Cheap Apartments for Rent in the Red Mile Neighborhood of Lexington, KY from $500 (29 Rentals)

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

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Hillrise Place
Studio Apartments

Hillrise Place

709 Hill Rise CtLexington, KY 40504
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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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Preakness Apartments
1 to 3 Bedroom Apartments

Preakness Apartments

1707-1724 Versailles RdLexington, KY 40504
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Oxford Circle
1 Bedroom Apartments

Oxford Circle

1805 Oxford CirLexington, 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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Stableview
2 Bedroom Apartments

Stableview

1050 Horsemans LnLexington, KY 40504
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Bluegrass Commons
Studio to 1 Bedroom Apartments

Bluegrass Commons

165 Virginia AveLexington, KY 40508
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Whitney Woods
2 to 3 Bedroom Apartments

Whitney Woods

700 Whitney Woods PlLexington, KY 40504
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Medical Villas
1 Bedroom Apartments

Medical Villas

180 Leader AveLexington, KY 40508
Student Housing
  • Utilities Included
Showing Results 1-29, Page 1 of 1

Red Mile, Lexington, KY Local Guide

Cheapest Available Red Mile Apartments for Rent

 

The cheapest available apartment rental in the Red Mile area of Lexington, KY is a 1 Bed unit found at VELO - Waller Avenue priced from $745. Oxford Circle has the second lowest priced unit, which is a 1 Bed apartment currently listed from $760. Here are the most affordable Red Mile apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
VELO - Waller AvenueNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
Oxford Circleoxf 1.11BR,1BA$760
The Crossings Apartment Homes1 Bedroom, 1 Bathroom1BR,1BA$860
The Studios at Belmont - MAJOR UTILITIES INCLStudioStudio,1BA$895
Preserve LexingtonA11BR,1BA$1,002
Belmont Run ApartmentsOne Bedroom1BR,1BA$1,075
Trifecta on Red Mile - Newly Renovated!Trifecta on Red Mile - One Bedroom1BR,1BA$1,095
Thoroughbred Crossing2 Bedroom Garden floor2BR,1BA$1,100
Studios340 - All Inclusive PricingStudioStudio,1BA$1,255
Gateway Lofts LexingtonYoungStudio,1BA$1,285

Best Value Apartments for Rent in Red Mile, KY

As of November 06, 2025 the best value apartment in the Red Mile area is the $1.83 price per square foot 4 x 3 Standard Model at Burley Properties in the in the Downtown Lexington neighborhood starting from $2,500. The second greatest value Red Mile apartment is the 2 Bedrooms W/ Balcony Model at Thoroughbred Crossing starting at $1,200 with a $1.25 price per square foot in the Beaumont Residential neighborhood. Here is today’s list of the best values for Red Mile apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Burley Properties4 x 3 Standard4BR,3BA$1.83
Thoroughbred Crossing2 Bedrooms W/ Balcony2BR,1BA$1.25
Latitude Lexington525: 1 Bed - 1 Bath1BR,1BA$1.75
Trifecta on Red Mile - Newly Renovated!Trifecta on Red Mile - Two Bedroom2BR,1BA$1.75
Belmont Run ApartmentsOne Bedroom1BR,1BA$1.56
The Crossings Apartment Homes1 Bedroom, 1 Bathroom1BR,1BA$1.38
Oxford Circleoxf 1.11BR,1BA$1.36
Gateway Lofts LexingtonYoungStudio ,1BA$2.83
Preserve LexingtonA11BR,1BA$2.26
The Studios at Belmont - MAJOR UTILITIES INCLStudioStudio ,1BA$2.84

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Pet Friendly Lifestyle
Red Mile, Lexington, KY

Ranked #50

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

Pet Friendliness Lifestyle Score

3.0
Pet Friendly

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Lifestyle Ratings

This website is proud to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals in cities and towns across the United States and customized analysis for Lexington, Kentucky. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including filtering automatically for proximity to parks, luxury housing options, apartment complexes for the kids, raising pets, transit options, and more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Getting Around the Red Mile Neighborhood in Lexington, KY

Walk Score®

57 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

66 / 100

Bikeable

Some bike infrastructure

Transit Score®

45 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Red Mile Apartments

What is a cheap apartment in Red Mile?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Red Mile is under $1,285.

What is the price of a cheap apartment in Red Mile?

The cheapest apartment in Red Mile is VELO - Waller Avenue which is listed at $745, while the average apartment in Red Mile costs $3,797.

What types of apartments are the cheapest in Red Mile?

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 27 regular apartments in Red Mile 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 Red Mile?

Cheap apartments in Red Mile have an average cost of $746 which is $3,051 cheaper than the average rent for all rentals in Red Mile.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Lexington article

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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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.