Cheap Apartments for Rent in the Southwest Lexington Neighborhood of Lexington, KY from $500 (76 Rentals)

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

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Stonehurst Studios
Studio Apartments

Stonehurst Studios

256 Lyndhurst PlLexington, KY 40508
Student Housing
  • Utilities Included
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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 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 Southwest Lexington apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
VELO - Waller AvenueNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
Preakness ApartmentsP111BR,1BA$750
515 S Upper StNear CampusStudio,1BA$825
Brookhaven Apartments1 Bedroom/1 Bath1BR,1BA$840
Crescent at Shadeland Apartments0BR/1.0BAStudio,1BA$859
The Crossings Apartment Homes1 Bedroom, 1 Bathroom1BR,1BA$860
Chelsea Apartments1 Bedroom1BR,1BA$895
Flats at TurflandRenovated 1 Bedroom - Open Concept1BR,1BA$895
Landing at Malabu852 Malabu - Newly-Renovated One Bedroom Apartm...1BR,1BA$895
The Studios at Belmont - MAJOR UTILITIES INCLStudioStudio,1BA$895

Best Value Apartments for Rent in Southwest Lexington, KY

As of September 13, 2025 the best value apartment in the Southwest Lexington area is the $1.11 price per square foot Taylor Made Model at Park Place Apartments in the in the The Meadows At Brannon Crossing neighborhood starting from $1,710. The second greatest value Southwest Lexington apartment is the 2 Bedroom 1.5 Bathroom Model at Tates Creek Village starting at $1,050 with a $0.88 price per square foot in the Lansdowne 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.
Park Place ApartmentsTaylor Made2BR,2BA$1.11
Tates Creek Village2 Bedroom 1.5 Bathroom2BR,1.5BA$0.88
3324 Wood Valley Ct, Unit B3324 Wood Valley Ct2BR,1BA$1.23
The MetropolitanBarton2BR,2BA$1.17
The StretchTwo Bedroom2BR,2BA$0.88
Canter PointeSecretariat - 2x22BR,2BA$1.21
Tates Creek Crossings2 Bedroom 1.5 Bath2BR,1.5BA$1.14
4044 Expo Ct, Lexington, KY, 40515-4682Covered front porch2BR,1BA$1.09
Rosetown ApartmentsTwo Bedroom2BR,1BA$1.19
Preakness ApartmentsP111BR,1BA$1.12

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Pet Friendly Lifestyle
Southwest Lexington, Lexington, KY

Ranked #7

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 $895.

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

The cheapest apartment in Southwest Lexington is VELO - Waller Avenue which is listed at $745, while the average apartment in Southwest Lexington costs $3,680.

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 45 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 $1,336 which is $2,344 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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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.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.