1972 Cambridge Dr
LexingtonKY40504
Cheap Homes for Rent in Red Mile Neighborhood of Lexington, KY from $700 (7 Rentals)
Search the lowest-cost Homes available for rent right now in the Red Mile area of Lexington.
1021 Cross Keys Rd
LexingtonKY40504
313 Mockingbird Ln
LexingtonKY40503
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.
342 Waller Ave
LexingtonKY40504
326 Hummingbird Ln
LexingtonKY40503
222 Rugby Rd
LexingtonKY40504
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.
1100 Horsemans Ln
LexingtonKY40504
Showing Results 1-7, Page 1 of 1
Red Mile, Lexington, KY Local Guide
How much does it cost to rent a home in Red Mile?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Red Mile 2 Bedroom Homes for Rent | $1,300 | $900 | $1,600 |
| Red Mile 3 Bedroom Homes for Rent | $1,753 | $1,500 | $2,200 |
| Red Mile 4 Bedroom Homes for Rent | $3,300 | $3,000 | $3,600 |
| Red Mile 5 Bedroom Homes for Rent | $3,591 | $3,250 | $4,175 |
Browse Homes for Rent in this Neighborhood
There are currently 7 rentals with your search options within a 2 mile radius of the Red Mile Neighborhood of Lexington, KY.
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Red Mile, Lexington, KY Local Guide
- Nearby Lexington neighborhoods
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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 Lexington 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 Lexington | NEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO... | 1BR,1BA | $745 |
| Preakness Apartments | P11 | 1BR,1BA | $750 |
| 1901 Apartment Homes | 1 Bedroom 1 Bathroom | 1BR,1BA | $755 |
Best Value Apartments for Rent in Red Mile, KY
As of April 16, 2026 the best value apartment in the Red Mile area is the $1.25 price per square foot 2 Bedrooms W/ Balcony Model at Thoroughbred Crossing in the in the Beaumont Residential neighborhood starting from $1,200. The second greatest value Red Mile apartment is the 525: 1 Bed - 1 Bath Model at Latitude Lexington starting at $1,419 with a $1.75 price per square foot in the Downtown Lexington 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. |
|---|---|---|---|
| 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 Bedrooms, 1 Bathroom | 2BR,1BA | $1.13 |
| Trifecta on Red Mile - Newly Renovated! | Trifecta on Red Mile - Two Bedroom | 2BR,1BA | $1.75 |
| Preakness Apartments | P11 | 1BR,1BA | $1.12 |
| The Crossings Apartment Homes | 1 Bedroom, 1 Bathroom | 1BR,1BA | $1.38 |
| Senior Housing 55+ - Christian Towers II | Standard | 1BR,1BA | $1.59 |
| Oxford Circle | oxf 1.1 | 1BR,1BA | $1.36 |
| Christian Tpwers | 1 bedroom 1 bath | 1BR,1BA | $2.33 |
| Preserve Lexington | A1 | 1BR,1BA | $2.26 |
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.
Read Article
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.
Read ArticleThe 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.
Read ArticleCash 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.
Read ArticleQuick 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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Pet Friendly LifestyleRed Mile, Lexington, KY
Ranked #38
Among cities in Kentucky for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
3.5Pet Friendly
Frequently Asked Questions about Red Mile
What type of rentals are currently available in Red Mile?
There are currently 182 Apartments for Rent in Red Mile, KY with pricing that ranges from $739 to $5,200. There are also 26 Single Family Homes for rent, Condos, and Townhome rentals currently available in Red Mile ranging from $725 to $4,175.
What is the current price range for Rental Homes in Red Mile?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Red Mile ranges from $725 to $4,175 with an average monthly rent of $2,145.
How much are larger Three and Four Bedroom Rentals in Red Mile?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Red Mile range from $1,009 to $1,422, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,500 to $2,200. Four Bedroom Single-Family rentals are also available starting from $3,000 and Four Bedroom Apartments start at $739.
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.
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.
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.
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.