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$745 - $1,4001 Bedroom Apartments Available Now
VELO - Waller Avenue
353 Waller AveLexington, KY 40504
Cheap Apartments for Rent in the Red Mile Neighborhood of Lexington, KY from $500 (31 Rentals)
Search the lowest-cost Apartments available for rent right now in the Red Mile area of Lexington.
1921 Oxford Cir
LexingtonKY40504
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$755 - $9371 to 2 Bedroom Apartments Available Now
1901 Apartment Homes
1909 Cambridge DrLexington, KY 40504
337 S Broadway Park
LexingtonKY40504
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$860 - $1,1751 to 3 Bedroom Apartments Available Now
The Crossings Apartment Homes
1040 Cross Keys RdLexington, KY 40504
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Rent Specials
$870 - $1,2501 to 3 Bedroom Apartments Contact Us For Availability
Davis Park Station
512 De Roode StreetLexington, KY 40508
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$895Studio Apartments Available Jan 9, 2026
The Studios at Belmont - MAJOR UTILITIES INCL
333 Legion DrLexington, KY 40504
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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Rent Specials
$9921 Bedroom Apartments Contact Us For Availability
Senior Housing 55+ - Christian Towers II
1513 Versailles RdLexington, KY 40504
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858 S Broadway
LexingtonKY40504
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$1,034 - $3,6251 to 3 Bedroom Apartments Available Now
Preserve Lexington
845 Red Mile RdLexington, KY 40504
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$1,050 - $1,1751 to 2 Bedroom Apartments Available Now
Belmont Run Apartments
1232 Man O War PlLexington, KY 40504
860 S Broadway
LexingtonKY40504
731-733-733 Terrace View Dr
LexingtonKY40504
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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$1,095 - $1,2951 to 2 Bedroom Apartments Available Now
Trifecta on Red Mile - Newly Renovated!
700 Red Mile RdLexington, KY 40504
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$1,100 - $1,2002 Bedroom Apartments Available Now
Thoroughbred Crossing
1346 Village DrLexington, KY 40504
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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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1 to 3 Bedroom Apartments
Westminster Village - Affordable Housing
1510 Versailles RdLexington, KY 40504
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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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Showing Results 1-31, Page 1 of 1
Red Mile, Lexington, KY Local Guide
How much does it cost to rent an apartment in Red Mile?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Red Mile Studio Apartments | $1,355 | $895 | $1,737 |
| Red Mile 1 Bedroom Apartments | $1,240 | $610 | $2,631 |
| Red Mile 2 Bedroom Apartments | $1,284 | $835 | $3,163 |
| Red Mile 3 Bedroom Apartments | $1,353 | $999 | $1,750 |
| Red Mile 4 Bedroom Apartments | $1,379 | $739 | $3,600 |
Browse Apartments in this Neighborhood
There are currently 31 rentals with your search options within a 2 mile radius of the Red Mile Neighborhood of Lexington, KY.
See all Apartments in LexingtonExplore Lexington
Red Mile, Lexington, KY Local Guide
- Nearby Lexington neighborhoods
- Nearby Cities
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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. Preakness Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $750. Here are the most affordable Red Mile apartments for rent in Lexington, KY:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| VELO - Waller Avenue | NEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO... | 1BR,1BA | $745 |
| Preakness Apartments | P11 | 1BR,1BA | $750 |
| 1901 Apartment Homes | 2 Bedroom, 1 Bathroom | 1BR,1BA | $755 |
| The Crossings Apartment Homes | 1 Bedroom, 1 Bathroom | 1BR,1BA | $860 |
| Preserve Lexington | A1 | 1BR,1BA | $1,034 |
| Belmont Run Apartments | One Bedroom | 1BR,1BA | $1,050 |
| Trifecta on Red Mile - Newly Renovated! | Trifecta on Red Mile - One Bedroom | 1BR,1BA | $1,095 |
| Thoroughbred Crossing | 2 Bedroom Garden floor | 2BR,1BA | $1,100 |
| Gateway Lofts Lexington | Young | Studio,1BA | $1,184 |
| Christian Tpwers | 1 bedroom 1 bath | 1BR,1BA | $1,219 |
Best Value Apartments for Rent in Red Mile, KY
As of December 09, 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 Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Burley Properties | 4 x 3 Standard | 4BR,3BA | $1.83 |
| Thoroughbred Crossing | 2 Bedrooms W/ Balcony | 2BR,1BA | $1.25 |
| Latitude Lexington | 525: 1 Bed - 1 Bath | 1BR,1BA | $1.75 |
| 1901 Apartment Homes | 2 Bedroom, 1 Bathroom | 1BR,1BA | $1.01 |
| Trifecta on Red Mile - Newly Renovated! | Trifecta on Red Mile - Two Bedroom | 2BR,1BA | $1.75 |
| Belmont Run Apartments | One Bedroom | 1BR,1BA | $1.52 |
| Preakness Apartments | P11 | 1BR,1BA | $1.12 |
| The Crossings Apartment Homes | 1 Bedroom, 1 Bathroom | 1BR,1BA | $1.38 |
| Christian Tpwers | 1 bedroom 1 bath | 1BR,1BA | $2.33 |
| Preserve Lexington | A1 | 1BR,1BA | $2.33 |
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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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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Pet Friendly LifestyleRed Mile, Lexington, KY
Ranked #44
Among cities in Kentucky for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet Friendly
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
How much is rent for a Cheap One Bedroom Red Mile Apartment?
The lowest price for a Cheap One Bedroom Red Mile Apartment is $745 at VELO - Waller Avenue.
What is the lowest price for a Cheap Two Bedroom Red Mile Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Red Mile is starting from $815 at Preakness Apartments.
What is the most affordable Red Mile Three Bedroom Apartment?
The best deal on a cheap Red Mile Three Bedroom Apartment rental is at The Crossings Apartment Homes and starts from $1,175.
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
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.
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.
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.
How to Negotiate Your Apartment Lease and Save Money
Written by: Christine Leonard, Esq.
Everything is a negotiation in real estate!