Cheap Apartments for Rent in the Southwest Lexington Neighborhood of Lexington, KY from $500 (85 Rentals)

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

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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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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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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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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Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Southwest Lexington, Lexington, KY Local Guide

Cheapest Available Southwest Lexington Apartments for Rent

 

The cheapest available apartment rental in the Southwest Lexington area of Lexington, KY is a 1 Bed unit found at MidTown Apartments priced from $610. VELO - Waller Avenue has the second lowest priced unit, which is a 1 Bed apartment currently listed from $745. Here are the most affordable Southwest Lexington apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
MidTown ApartmentsBedroom1BR,1BA$610
VELO - Waller AvenueNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
1592 Alexandria Dr1 Beds, 1 Baths1BR,1BA$750
Emerson Center 62+ Senior ApartmentsStudioStudio,1BA$799
Preakness ApartmentsP11U1BR,1BA$805
4044 Expo Ct, Lexington, KY, 40515-4682Covered front porch2BR,1BA$825
Brookhaven Apartments1 Bedroom/1 Bath1BR,1BA$840
Tates Creek Village1 Bedroom 1 Bathroom1BR,1BA$850
Crescent at Shadeland Apartments0BR/1.0BAStudio,1BA$859
The Crossings Apartment Homes1 Bedroom, 1 Bathroom1BR,1BA$860

Best Value Apartments for Rent in Southwest Lexington, KY

As of November 10, 2025 the best value apartment in the Southwest 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 Southwest Lexington apartment is the B2 Ridley's Cheer - Two Bedroom, Two Bathroom Model at Enclave Hartland starting at $1,449 with a $1.30 price per square foot in the The Meadows At Brannon Crossing neighborhood. Here is today’s list of the best values for Southwest 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
Enclave HartlandB2 Ridley's Cheer - Two Bedroom, Two Bathroom2BR,2BA$1.30
Tates Creek Crossings2 Bedroom 1.5 Bath Den2BR,1.5BA$1.16
The Colony at the OaksThe Cypress2BR,1.5BA$1.21
The Callaway2 Bedroom Traditional2BR,1BA$1.30
4044 Expo Ct, Lexington, KY, 40515-4682Covered front porch2BR,1BA$0.97
Shillito Park Apartments1 Bed 1 Bath1BR,1BA$1.24
Preakness ApartmentsP11U1BR,1BA$1.03
Rosetown ApartmentsTwo Bedroom2BR,1BA$1.19
1592 Alexandria Dr1 Beds, 1 Baths1BR,1BA$1.15

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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Quick 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 Lifestyle
Southwest Lexington, Lexington, KY

Ranked #3

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
Southwest Lexington, Lexington, KY

School data provided by Great Schools

Lifestyle Ratings

This website is proud to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals in cities and towns across the United States including Southwest Lexington, Lexington, and the greater Lexington area. 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 convenient access to the outdoors, luxury amenities, pet-friendly features, family-friendliness, proximity to transit, and more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Southwest Lexington Apartments

What is a cheap apartment in Southwest Lexington?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Southwest Lexington is under $860.

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

The cheapest apartment in Southwest Lexington is MidTown Apartments which is listed at $610, while the average apartment in Southwest Lexington costs $3,345.

What types of apartments are the cheapest in Southwest 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 75 regular apartments in Southwest 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 Southwest Lexington?

Cheap apartments in Southwest Lexington have an average cost of $547 which is $2,798 cheaper than the average rent for all rentals in Southwest 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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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! 

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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.