Cheap Homes for Rent in Southwest Lexington Neighborhood of Lexington, KY from $700 (14 Rentals)

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

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.

property at 1135 Cooper Dr

1135 Cooper Dr

LexingtonKY40502
property at 1142 Dunbarton Ln

1142 Dunbarton Ln

LexingtonKY40502

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.

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 $715. 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
Preakness ApartmentsP111BR,1BA$715
VELO - Waller AvenueNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
1592 Alexandria Dr1 Beds, 1 Baths1BR,1BA$750
Crescent at Shadeland Apartments0BR/1.0BAStudio,1BA$819
Brookhaven Apartments1 Bedroom/1 Bath1BR,1BA$825

Best Value Apartments for Rent in Southwest Lexington, KY

As of June 19, 2025 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 3318 Wood Valley Ct Model at 3318 Wood Valley Ct, Unit Duplex starting at $1,500 with a $1.25 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.
Tates Creek Village3 Bedroom 2.5 Bathroom3BR,2.5BA$1.03
3318 Wood Valley Ct, Unit Duplex3318 Wood Valley Ct2BR,1BA$1.25
The StretchTwo Bedroom2BR,2BA$0.88
The Callaway2 Bedroom Premium2BR,1BA$1.26
Tates Creek Crossings2 Bedroom 1 Bath2BR,1BA$1.02
Park Thirty992 Bedrooms 2 Bathrooms2BR,2BA$1.15
Shillito Park Apartments1 Bed 1 Bath1BR,1BA$1.24
Rivers at BluegrassRenovated 1 Bed / 1 Bath1BR,1BA$1.30
Preakness ApartmentsP111BR,1BA$1.07
1592 Alexandria Dr1 Beds, 1 Baths1BR,1BA$1.15

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Frequently Asked Questions about Southwest Lexington

What type of rentals are currently available in Southwest Lexington?

There are currently 555 Apartments for Rent in Southwest Lexington, KY with pricing that ranges from $610 to $7,045. There are also 56 Single Family Homes for rent, Condos, and Townhome rentals currently available in Southwest Lexington ranging from $799 to $3,995.

What is the current price range for Rental Homes in Southwest Lexington?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Southwest Lexington ranges from $799 to $3,995 with an average monthly rent of $2,119.

How much are larger Three and Four Bedroom Rentals in Southwest Lexington?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Southwest Lexington range from $875 to $7,045, while Three Bedroom Homes, Condos, and Townhomes for rent range from $899 to $2,900. Four Bedroom Single-Family rentals are also available starting from $2,000 and Four Bedroom Apartments start at $2,450.

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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Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

decorative image for The Art of the Rental Viewing: What to look for during a property tour article

The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.