Cheap Apartments for Rent in the Southwest Lexington Neighborhood of Lexington, KY from $500 (113 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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Flats at Turfland
$895 - $945
Total Monthly Price

Total Monthly Price

Base Rent
$775 - $825
Required Monthly Fees
$120
Total Monthly Price
$895 - $945
1 Bedroom Apartments Available Now

Flats at Turfland

2315 Harrodsburg RdLexington, KY 40504
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Landing at Malabu
$895 - $945
Total Monthly Price

Total Monthly Price

Base Rent
$775 - $825
Required Monthly Fees
$120
Total Monthly Price
$895 - $945
1 Bedroom Apartments Available Now

Landing at Malabu

848 Malabu DrLexington, KY 40502
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Creeks on Kirklevington
$928 - $1,703
Total Monthly Price

Total Monthly Price

Base Rent
$907 - $1,682
Required Monthly Fees
$21
Total Monthly Price
$928 - $1,703
Studio to 2 Bedroom Apartments Available Now

Creeks on Kirklevington

3050 Kirklevington DrLexington, KY 40517
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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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The Metropolitan
Rent Specials
$935 - $3,595
Total Monthly Price

Total Monthly Price

Base Rent
$845 - $3,505
Required Monthly Fees
$90
Total Monthly Price
$935 - $3,595
1 to 2 Bedroom Apartments Available Now

The Metropolitan

3751 Appian WayLexington, KY 40517
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property at 402 Gunn St

$950 - $1,025

1 Bedroom Rentals

Available Now

402 Gunn St

LexingtonKY40508
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The Axis at 1435
$970 - $1,125
Total Monthly Price

Total Monthly Price

Base Rent
$830 - $985
Required Monthly Fees
$140
Total Monthly Price
$970 - $1,125
Studio to 1 Bedroom Apartments Available Now

The Axis at 1435

1435 Nicholasville RdLexington, KY 40503
Student Housing
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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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Shillito Park Apartments
$995 - $1,295
Total Monthly Price

Total Monthly Price

Base Rent
$941 - $1,241
Required Monthly Fees
$54
Total Monthly Price
$995 - $1,295
1 to 2 Bedroom Apartments Available Now

Shillito Park Apartments

3500 Beaver Place RdLexington, KY 40503
Student Housing
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The Vue Lexington
Rent Specials
$995 - $1,150
Total Monthly Price

Total Monthly Price

Base Rent
$861 - $1,016
Required Monthly Fees
$134
Total Monthly Price
$995 - $1,150
1 to 2 Bedroom Apartments Available Now

The Vue Lexington

2070 Garden Springs DrLexington, KY 40504
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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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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. 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
VELO - Waller AvenueNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
Emerson Center 62+ Senior ApartmentsStudioStudio,1BA$750
Preakness ApartmentsP111BR,1BA$750
4044 Expo Ct, Lexington, KY, 40515-4682Covered front porch2BR,1BA$825
Breckinridge CourtStudio 460 sf (st2)1BR,1BA$830
The Crossings Apartment Homes1 Bedroom, 1 Bathroom1BR,1BA$860
Chelsea Apartments1 Bedroom1BR,1BA$895
Brookhaven Apartments1 Bedroom/1 Bath1BR,1BA$895
Flats at TurflandFlat - Open Kitchen1BR,1BA$895
Landing at MalabuMalabu Flat 8521BR,1BA$895

Best Value Apartments for Rent in Southwest Lexington, KY

As of January 30, 2026 the best value apartment in the Southwest Lexington area is the $1.03 price per square foot 3 Bedroom 2.5 Bathroom Model at Tates Creek Village in the in the Lansdowne neighborhood starting from $1,550. The second greatest value Southwest Lexington apartment is the Claiborne Model at Park Place Apartments starting at $1,690 with a $1.17 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.
Tates Creek Village3 Bedroom 2.5 Bathroom3BR,2.5BA$1.03
Park Place ApartmentsClaiborne2BR,2BA$1.17
Shillito Park Apartments2 Bed 2 Bath2BR,2BA$1.15
The Colony at the OaksThe Cypress2BR,1.5BA$1.21
The StretchTwo Bedroom2BR,2BA$0.95
Tates Creek Crossings2 Bedroom 1.5 Bath2BR,1.5BA$1.15
4044 Expo Ct, Lexington, KY, 40515-4682Covered front porch2BR,1BA$0.97
MidTown Apartments1 Bedroom1BR,1BA$1.17
Harrods Point Apartments - Newly remodeled1 Bedroom FULLY RENOVATED1BR,1BA$1.24
Preakness ApartmentsP111BR,1BA$1.12

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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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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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 $5,000.

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 67 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 $600 which is $4,400 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.

Articles, How-To's, and Tips

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Lexington article

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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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment

Written by: Bob Mallory

Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.