Cheap Apartments for Rent in the 40516 ZIP Code of Lexington, KY from $300 (17 Rentals)

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Search the lowest-cost Apartments available for rent right now in the 40516 ZIP Code area of Lexington.

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The Ascent1555
Rent Specials
$925 - $1,345
Total Monthly Price

Total Monthly Price

Base Rent
$925 - $1,345
Total Monthly Price
$925 - $1,345
Studio to 2 Bedroom Apartments Available Now

The Ascent1555

1555 Eastland PkyLexington, KY 40505
Affordability
  • Verified
  • Customer Reviewed
  • Utilities Included

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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The Avery
Rent Specials
$1,474 - $2,354
Total Monthly Price

Total Monthly Price

Base Rent
$1,474 - $2,354
Total Monthly Price
$1,474 - $2,354
1 to 3 Bedroom Apartments Available Now

The Avery

6600 Man O War BlvdLexington, KY 40509
Pet Friendly
  • Verified
  • Customer Reviewed
  • 3D Tour

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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Hartford Place
Studio to 2 Bedroom Apartments

Hartford Place

1598 Martha CtLexington, KY 40505
  • Utilities Included
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Parkway Manor
1 to 3 Bedroom Apartments

Parkway Manor

431 Rogers RdLexington, KY 40505
  • Utilities Included
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Heritage Hills
1 to 2 Bedroom Apartments

Heritage Hills

1708 Jennifer RdLexington, KY 40505
  • Utilities Included
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Valore at the Baxter
1 Bedroom Apartments

Valore at the Baxter

1597 Martha CtLexington, KY 40505
Corporate Housing
  • Utilities Included
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Hamburg Senior Residence
1 to 2 Bedroom Apartments

Hamburg Senior Residence

1601 Villa Medici PassLexington, KY 40509
Senior Living
  • Utilities Included

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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Cottages of Laclede
2 to 3 Bedroom Apartments

Cottages of Laclede

268 Laclede AveLexington, KY 40505
  • Utilities Included
Showing Results 1-17, Page 1 of 1

Frequently Asked Questions about Cheap the 40516 ZIP Code Apartments

What is the Cheapest Studio apartment in 40516?

Currently the most affordable Cheap Studio Apartment in 40516 is at Sandlin Villas Apartments listed at $702.

How much is rent for a Cheap One Bedroom 40516 Apartment?

The lowest price for a Cheap One Bedroom 40516 Apartment is $695 at Blossom Wood Apartments.

What is the lowest price for a Cheap Two Bedroom 40516 Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in 40516 is starting from $704 at Rivers Edge Apartments.

What is the most affordable 40516 Three Bedroom Apartment?

The best deal on a cheap 40516 Three Bedroom Apartment rental is at Rivers Edge Apartments and starts from $814.

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.

decorative image for A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back article

A Seasoned Property Manager's Step-by-Step Guide to Getting Your Deposit Back

Written by: Lauren Harrington

I’m going to talk with you as a seasoned property manager and friend. So, let’s start with your security deposit. I want you to think about this guide as insider information. You deserve your deposit back.

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Written by: Lauren Harrington

This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.