Cheap Apartments for Rent in the Southwest Lexington Neighborhood of Lexington, KY from $400 (114 Rentals)

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

property at 562 Woodland Ave

$850

Total Monthly Price

Total Monthly Price

Base Rent
$850
Total Monthly Price
$850

Studio, 1 Bath Condo for Rent

Available Now

562 Woodland Ave

LexingtonKY40508

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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 Preakness Apartments priced from $750. 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 Southwest Lexington apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
Preakness ApartmentsP111BR,1BA$750
Emerson Center 62+ Senior ApartmentsStudioStudio,1BA$750
1592 Alexandria Dr1 Beds, 1 Baths1BR,1BA$750
Wellington Park ApartmentsOne Bed One Bath1BR,1BA$775
Lansdowne ApartmentsSmall 1BR/1BA1BR,1BA$865
562 Woodland Ave0 Beds, 1 BathsStudio,1BA$875
VELO LexingtonFULLY FURNISHED, NEWLY RENOVATED, AFFORDABLE ST...1BR,1BA$895
Brookhaven Apartments1 Bedroom/1 Bath1BR,1BA$895
Chelsea Apartments1 Bedroom1BR,1BA$895
Rivers at Bluegrass1 Bed, 1 Bath1BR,1BA$900

Best Value Apartments for Rent in Southwest Lexington, KY

As of August 14, 2026 the best value apartment in the Southwest Lexington area is the $1.15 price per square foot 2 Bed 2 Bath Model at Shillito Park Apartments in the in the The Meadows At Brannon Crossing neighborhood starting from $1,295. The second greatest value Southwest Lexington apartment is the Camarillo Model at Saddle Run Townhomes starting at $1,175 with a $1.16 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.
Shillito Park Apartments2 Bed 2 Bath2BR,2BA$1.15
Saddle Run TownhomesCamarillo2BR,1.5BA$1.16
Bridle Creek ApartmentsB1 Fayette - Two Bedroom, Two Bathroom2BR,2BA$1.29
Limestone Square/Medical Villas2 Bedroom w/ Study2BR,2BA$1.31
Malabu Terrace Condominiums1 Beds, 1 Baths1BR,1BA$1.02
Parkside Apartments2 Bedroom2BR,1BA$1.13
Rivers at Bluegrass1 Bed, 1 Bath1BR,1BA$1.20
Preakness ApartmentsP111BR,1BA$1.12
1592 Alexandria Dr1 Beds, 1 Baths1BR,1BA$1.15
Wellington Park ApartmentsOne Bed One Bath1BR,1BA$1.21

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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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 $900.

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

The cheapest apartment in Southwest Lexington is Preakness Apartments which is listed at $750, while the average apartment in Southwest Lexington costs $1,402.

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 40 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 $676 which is $726 cheaper than the average rent for all rentals in Southwest 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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Horses, Hoops, and a Short Commute: Renting Near Lexington's Top Employers

Written by: Catrina Cowart

Hi, I’m Catrina, your ApartmentHomeLiving.com Local Expert for Lexington, Kentucky.

decorative image for The Southern Spirit: Your Guide to Finding the Perfect Neighborhood to Rent in Lexington article

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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The Ultimate Lexington Student Housing Guide - Top Neighborhoods for Renting Near Major Universities

Written by: Catrina Cowart

I'm Catrina, your ApartmentHomeLiving.

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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.

Articles, How-To's, and Tips

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decorative image for Renters Insurance 101: What It Is, What It Covers, and Why You Need It article

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There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.