Cheap Apartments for Rent in Lexington, KY from $400 (188 Rentals)

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

property at 468 N Limestone

468 N Limestone

LexingtonKY40508
Showing Results 1-50, Page 1 of 4

Lexington, KY Local Guide

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Written By:
Trey Huguley
Senior Manager, Product Marketing

Cheapest Neighborhoods for Apartments in Lexington, KY

Pricing Updated: 03/01/2025

Current apartment rentals in the Lexington, KY area range in price from $475 to $6,569 with an overall median price of $2,580. The three Lexington neighborhoods with the lowest median rent pricing are Pralltown at $680, Harrods Hill at $745, and Beaumont Residential at $715. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Lexington Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Pralltown$1,185$680108
Harrods Hill$1,275$745449
Beaumont Residential$1,290$715822
Meadowthorpe$1,348$740534
Calumet$1,355$715613
Georgetown$1,400$4751451
Gainesway$1,475$7651261
St. Martins Village$1,500$6801540
Castlewood$1,600$4751499
Shriners$1,600$4751611

Cheapest Available Lexington Apartments for Rent

 

The cheapest available apartment rental in Lexington, KY is a 1 Bed unit found at MidTown Apartments in the Montclair neighborhood priced from $531. BelleFontaine Apartment Homes in the Boone Creek neighborhood has the second lowest priced unit, which is a Studio apartment currently listed from $685. Here is today’s list of the most affordable Lexington apartments for rent:

Apartment ListingModel NameBed/BathPriced From
MidTown ApartmentsBedroom1BR,1BA$531
BelleFontaine Apartment Homes0-1Studio,1BA$685
Caballo Crossing1 Bedroom 1 Bath1BR,1BA$700
Oxford Circleoxf 1.11BR,1BA$700
Eastland Hillseast1.11BR,1BA$709
Preakness ApartmentsP111BR,1BA$715
VELO - Waller AvenueNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
1592 Alexandria Dr1 Beds, 1 Baths1BR,1BA$750
1901 Apartment Homes1 Bedroom, 1 Bathroom1BR,1BA$755
Breckinridge CourtStudio 460 sf (st2)1BR,1BA$765

Best Value Apartments for Rent in Lexington, KY

As of March 01, 2025 the best value apartment in the Lexington area is the $1.07 price per square foot 3 Bedroom 2.5 Bath Model at The Pines in the in the Boone Creek neighborhood starting from $1,500. The second greatest value Lexington apartment is the House Model at Park Hills Apartments starting at $1,034 with a $0.82 price per square foot in the Boone Creek neighborhood. Here is today’s list of the best values for Lexington apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Pines3 Bedroom 2.5 Bath3BR,2.5BA$1.07
Park Hills ApartmentsHouse2BR,2.5BA$0.82
The StretchTwo Bedroom2BR,2BA$0.86
Limestone Square/Medical Villas3 Bedroom3BR,2BA$0.86
Caballo Crossing2 Bedroom 1 Bath2BR,1BA$0.95
Twenty Two Twenty2 Bedrooms, 1.5 Bathrooms2BR,1.5BA$0.95
1901 Apartment Homes1 Bedroom, 1 Bathroom1BR,1BA$1.01
Eastland Hillseast1.11BR,1BA$0.95
Park VistaPV1.11BR,1BA$1.12
Preakness ApartmentsP111BR,1BA$1.07

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Lexington Overview

Lexington, a vibrant, diverse city, offers its residents a high quality of life in a beautiful setting. The city is one of the oldest in the nation and distinguished itself early on as a destination for thoroughbred horse farms and racing. The city lies in the heart of the Blue Grass region of Kentucky with rolling, verdant hills and a moderate four-season climate. Life in Lexington apartments provides lots of options and conveniences to enjoy this region where employment opportunities are abundant in academia, manufacturing and services. Wages in the region are higher than the national rate, but the cost of housing ranks 26 percent lower than the U.S. average.

Why live in Lexington, KY?

Few cities in the U.S. offer the diversity found in Lexington, from historical significance to a vibrant economic base rooted in higher education, manufacturing, high tech and services. The cost of living in Lexington is lower than the U.S. average, while wages for some jobs tend to be higher - since Kentucky isn’t a right-to-work state. The unemployment rate is typically lower than the national average, while the climate in Lexington offers four distinct seasons without the extremes and outdoor recreation is abundant. The city and surrounding environment offer stunning beauty and recreation, along with the world-class horse racing. All of this and much more make life in apartments in Lexington oamong the best in the country!

Pet Friendly Lifestyle
Lexington, KY

Ranked #2

Among cities in Kentucky for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

2.5
Pet Friendly

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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Lexington, KY Rentals by Map

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See the most popular apartments and homes in Lexington, KY

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Getting Around Lexington, KY

Walk Score®

58 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

55 / 100

Bikeable

Some bike infrastructure

Transit Score®

38 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Lexington Apartments

What is the Cheapest Studio apartment in Lexington?

Currently the most affordable Cheap Studio Apartment in Lexington is at BelleFontaine Apartment Homes listed at $685.

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

The lowest price for a Cheap One Bedroom Lexington Apartment is $531 at MidTown Apartments.

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

Today's best deal for a Cheap Two Bedroom Apartment in Lexington is starting from $799 at Eastland Hills.

What is the most affordable Lexington Three Bedroom Apartment?

The best deal on a cheap Lexington Three Bedroom Apartment rental is at Twenty Two Twenty and starts from $1,000.

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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Understanding Amenity Fees: Know Where You Might Be Able to Save Money

Written by: Amber Kanuckel

With the rising costs of housing, a lot of renters are asking this question: Is it possible to opt out of various amenities that your rental property offers so that you can avoid paying the fees.

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What to Know About Fees and Fines When Renting

Written by: Trey Huguley

When it comes to renting a new apartment or home there can be a number of fees that you will want to keep in mind going into the process.

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Battling the Butts: Your Guide to the Reality of Smoke-Free Renting

Written by: Andrea Lee Negroni, JD

While many apartment buildings are “no smoking” properties, it’s hard to know exactly how many. In 2017, the National Apartment Association reported more than half of rental properties had smoke free policies.

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How Your Move-In Inspection Can Protect Your Security Deposit

Written by: Christine Leonard, Esq.

If you’re anything like most people, housing costs represent a huge chunk of your monthly budget. On top of that, moving can be both a stressful and expensive affair.