Cheap Apartments for Rent in the South Lexington Neighborhood of Lexington, KY from $500 (31 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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2173 Cypress Dr
1 Bedroom Apartments

2173 Cypress Dr

2173 Cypress DrLexington, KY 40504
  • Utilities Included
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1356 Royalty Ct
1 to 2 Bedroom Apartments

1356 Royalty Ct

1356 Royalty CtLexington, KY 40504
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Medical View Properties
1 to 2 Bedroom Apartments

Medical View Properties

805 Press AveLexington, KY 40508
Student Housing
  • Utilities Included
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Bluegrass Commons
Studio to 1 Bedroom Apartments

Bluegrass Commons

165 Virginia AveLexington, KY 40508
  • Utilities Included

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Lansdowne Grove
Studio to 2 Bedroom Apartments

Lansdowne Grove

3489 Lansdowne DrLexington, KY 40517
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University Flats
2 to 4 Bedroom Apartments

University Flats

1160 University DrLexington, KY 40526
Student Housing
  • Utilities Included
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Medical Villas
1 Bedroom Apartments

Medical Villas

180 Leader AveLexington, KY 40508
Student Housing
  • Utilities Included
Showing Results 1-31, Page 1 of 1

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 - Waller Avenue priced from $745. Brookhaven Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $840. Here are the most affordable South Lexington apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
VELO - Waller AvenueNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
Brookhaven Apartments1 Bedroom/1 Bath1BR,1BA$840
Flats at TurflandRenovated 1 Bedroom - Open Concept1BR,1BA$895
The Studios at Belmont - MAJOR UTILITIES INCLStudioStudio,1BA$895
Chelsea Apartments1 Bedroom1BR,1BA$895
Harrods Point Apartments - Newly remodeledSmall one BedroomStudio,1BA$899
Vetra Lexington1 Bedroom 1 Bath1BR,1BA$899
The Axis at 1435StudioStudio,1BA$920
4044 Expo Ct, Lexington, KY, 40515-4682Covered front porch2BR,1BA$925
Lansdowne ApartmentsLarge 1BR/1BA1BR,1BA$940

Best Value Apartments for Rent in South Lexington, KY

As of September 10, 2025 the best value apartment in the South Lexington area is the $1.26 price per square foot Renovated 2 Bed / 1 Bath Deluxe Model at Rivers at Bluegrass in the in the Stonewall Community neighborhood starting from $1,449. The second greatest value South Lexington apartment is the 2X2 Model at Palomar View Apartments starting at $1,520 with a $1.40 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.
Rivers at BluegrassRenovated 2 Bed / 1 Bath Deluxe2BR,1BA$1.26
Palomar View Apartments2X22BR,2BA$1.40
4044 Expo Ct, Lexington, KY, 40515-4682Covered front porch2BR,1BA$1.09
Shillito Park Apartments1 Bed 1 Bath1BR,1BA$1.28
Lansdowne ApartmentsLarge 2BR/1BA2BR,1BA$1.51
The Colony at the OaksThe Willow1BR,1BA$1.33
Barrel Oaks ApartmentsDB 2/1 Premium Unit (Magnolia)2BR,1BA$1.40
Belmont Run ApartmentsOne Bedroom1BR,1BA$1.56
Chelsea Apartments1 Bedroom1BR,1BA$1.39
Brookhaven Apartments1 Bedroom/1 Bath1BR,1BA$1.40

Quick Rent Budget Calculator

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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 #20

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!

Getting Around the South Lexington Neighborhood in Lexington, KY

Walk Score®

65 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

60 / 100

Bikeable

Some bike infrastructure

Transit Score®

29 / 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 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 $940.

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

The cheapest apartment in South Lexington is VELO - Waller Avenue which is listed at $745, while the average apartment in South Lexington costs $3,422.

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 12 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 $900 which is $2,522 cheaper than the average rent for all rentals in South Lexington.

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.

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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 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.

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Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

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