Cheap 1 Bedroom Apartments for Rent in the Downtown Lexington Neighborhood of Lexington, KY from $595 (24 Rentals)

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property at 422 Pyke Rd

422 Pyke Rd

LexingtonKY40504

Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.

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property at 468 N Limestone

468 N Limestone

LexingtonKY40508
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1356 Royalty Ct
1 Bedroom Apartments

1356 Royalty Ct

1356 Royalty CtLexington, KY 40504
  • Utilities Included

Downtown Lexington - One of the Best Affordable Neighborhoods in Lexington

Named as one of the Best Affordable Neighborhoods to rent in Lexington by our Local Expert Catrina Cowart. See how it ranks!

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426 E High St
1 Bedroom Apartments

426 E High St

426 E High StLexington, KY 40507
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Medical View Properties
1 Bedroom Apartments

Medical View Properties

805 Press AveLexington, KY 40508
Student Housing
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Bluegrass Commons
1 Bedroom Apartments

Bluegrass Commons

165 Virginia AveLexington, KY 40508
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Arlington Lofts
1 Bedroom Apartments

Arlington Lofts

1001-1021 N Limestone StLexington, KY 40505
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Lexington's Best Affordable Neighborhoods

Learn about Lexington and the best places to live with original content written by our Local Expert Catrina Cowart

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Downtown Lexington, Lexington, KY Local Guide

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How much rent can you afford?

The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.

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Frequently Asked Questions about Cheap Downtown Lexington Apartments

What is a cheap apartment in Downtown Lexington?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Downtown Lexington is under $1,125.

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

The cheapest apartment in Downtown Lexington is VELO - Waller Avenue which is listed at $745, while the average apartment in Downtown Lexington costs $3,345.

What types of apartments are the cheapest in Downtown 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 30 regular apartments in Downtown 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 Downtown Lexington?

Cheap apartments in Downtown Lexington have an average cost of $1,497 which is $1,848 cheaper than the average rent for all rentals in Downtown Lexington.

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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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.

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Renting Smart: Lease Basics Every Renter Needs

Written by: Christine Leonard, Esq.

Often, in the excitement of finding a new place to live, there’s a rush to make it happen, and - too often - a new tenant signs a lease without reading it carefully.