Cheap Apartments for Rent in the South Lexington Neighborhood of Lexington, KY from $500 (73 Rentals)

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

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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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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

The Southern Spirit: Your Guide to Finding the Perfect Area of Lexington to Rent

Discover Lexington's unique balance of lively downtown growth, university energy, and friendly Southern spirit. A local guide to neighborhoods, dining, and outdoor life.

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South Lexington, Lexington, KY Local Guide

Cheapest Available South Lexington Apartments for Rent

 

The cheapest available apartment rental in the South 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 South 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
The Callaway1x1-A1BR,1BA$920
Harrods Point Apartments - Newly remodeledSmall one Bedroom1BR,1BA$929
The Vue Lexington1 Bed 1 Bath1BR,1BA$949
Flats at Beaumont -Newly-Renovated Condo-Style!Newly-Renovated Studio Apartments!Studio,1BA$950
Flats at TurflandFlat - Open Kitchen1BR,1BA$995
Regency Apartments at SouthlandTwo Bedroom/One Bath2BR,1BA$995
Shillito Park Apartments1 Bed 1 Bath1BR,1BA$995
Prime at GardensideThe Summit1BR,1BA$999

Best Value Apartments for Rent in South Lexington, KY

As of May 21, 2026 the best value apartment in the South 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 South Lexington apartment is the 2 Bedroom Model at Palomar View Apartments starting at $1,495 with a $1.37 price per square foot in the Stonewall Community neighborhood. Here is today’s list of the best values for South 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
Palomar View Apartments2 Bedroom2BR,2BA$1.37
Saddle Run TownhomesGuadalupe2BR,1.5BA$1.33
Barrel Oaks ApartmentsStretch Out and Settle In To This 3 Bedroom, 2 ...3BR,2BA$1.31
rmLexingtonRM-101BR,1BA$1.50
Shillito Park Apartments1 Bed 1 Bath1BR,1BA$1.24
Harrods Point Apartments - Newly remodeled1 Bedroom FULLY RENOVATED1BR,1BA$1.24
The Colony at the OaksThe Willow1BR,1BA$1.46
Vetra Lexington2 Bedroom 1 Bath2BR,1BA$1.42
The Callaway1x1-A1BR,1BA$1.34

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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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 Lifestyle
South Lexington, Lexington, KY

Ranked #11

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
South 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 Southwestern Lexington, KY. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including rankings of the best places for outdoor amenities like tennis courts, luxury amenities, transit availability, pet-friendly communities, features that make it easier to raise kids, and much more. Find Lifestyle Search in the filter options (above). Happy Searching!

Frequently Asked Questions about Cheap South Lexington Apartments

What is a cheap apartment in South Lexington?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in South Lexington is under $999.

What is the price of a cheap apartment in South Lexington?

The cheapest apartment in South Lexington is VELO Lexington which is listed at $745, while the average apartment in South Lexington costs $4,097.

What types of apartments are the cheapest in South 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 27 regular apartments in South 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 South Lexington?

Cheap apartments in South Lexington have an average cost of $830 which is $3,267 cheaper than the average rent for all rentals in South 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

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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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Written by: Christine Leonard, Esq.

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