Cheap Apartments for Rent in the Downtown Lexington Neighborhood of Lexington, KY from $500 (31 Rentals)

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

property at 468 N Limestone

468 N Limestone

LexingtonKY40508
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Stonehurst Studios
Studio Apartments

Stonehurst Studios

256 Lyndhurst PlLexington, KY 40508
Student Housing
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Kampus Terraces
Studio Apartments

Kampus Terraces

317 Transylvania ParkLexington, KY 40508
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1356 Royalty Ct
1 Bedroom Apartments

1356 Royalty Ct

1356 Royalty CtLexington, KY 40504
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Kampus Heights
Studio Apartments

Kampus Heights

350 Linden WalkLexington, KY 40508
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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 to 2 Bedroom Apartments

Medical View Properties

805 Press AveLexington, KY 40508
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Bluegrass Commons
Studio to 1 Bedroom Apartments

Bluegrass Commons

165 Virginia AveLexington, KY 40508
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Arlington Lofts
Studio to 1 Bedroom Apartments

Arlington Lofts

1001-1021 N Limestone StLexington, KY 40505
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The Lex
Studio to 4 Bedroom Apartments

The Lex

521 S BroadwayLexington, KY 40508
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Showing Results 1-31, Page 1 of 1

Downtown Lexington, Lexington, KY Local Guide

Cheapest Available Downtown Lexington Apartments for Rent

 

The cheapest available apartment rental in the Downtown Lexington area of Lexington, KY is a 1 Bed unit found at MidTown Apartments priced from $531. VELO - Waller Avenue has the second lowest priced unit, which is a 1 Bed apartment currently listed from $745. Here are the most affordable Downtown Lexington apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
MidTown ApartmentsBedroom1BR,1BA$531
VELO - Waller AvenueNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
Ferrill Square Apartments - 55+ CommunityOne Bedroom1BR,1BA$794
Rose Tower ApartmentsOne Bedroom1BR,1BA$850
Davis Park Station - NOW Leasing!One Bedroom1BR,1BA$870
Trifecta on Red Mile: MAJOR RenovationsOne Bedroom1BR,1BA$1,095
Artek Lofts1 Bed, 1 Bath Flat1BR,1BA$1,125
Preserve LexingtonA11BR,1BA$1,182
Studios180 - Short/Long Term LeasesStudioStudio,1BA$1,195
Studios340 - Short/Long Term LeasesSTUDIOSStudio,1BA$1,255

Best Value Apartments for Rent in Downtown Lexington, KY

As of March 01, 2025 the best value apartment in the Downtown Lexington area is the $0.86 price per square foot Two Bedroom Model at The Stretch in the in the Downtown Lexington neighborhood starting from $840. The second greatest value Downtown Lexington apartment is the 3 Bedroom Model at Limestone Square/Medical Villas starting at $820 with a $0.86 price per square foot in the Montclair neighborhood. Here is today’s list of the best values for Downtown Lexington apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The StretchTwo Bedroom2BR,2BA$0.86
Limestone Square/Medical Villas3 Bedroom3BR,2BA$0.86
SignatureThe Secretariat2BR,2BA$1.13
LEX Properties - 260 Lexington Ave1 Bedroom Expanded1BR,1BA$1.91
Davis Park Station - NOW Leasing!One Bedroom1BR,1BA$1.18
Hub Limestone2x1 A2BR,1BA$1.72
Ferrill Square Apartments - 55+ CommunityOne Bedroom1BR,1BA$1.20
Trifecta on Red Mile: MAJOR RenovationsOne Bedroom1BR,1BA$1.68
Rose Tower ApartmentsOne Bedroom1BR,1BA$1.89
MidTown ApartmentsBedroom1BR,1BA$1.25

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Pet Friendly Lifestyle
Downtown Lexington, Lexington, KY

Ranked #20

Among neighborhoods in Lexington, KY for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Downtown Lexington, Lexington, KY

School data provided by Great Schools

Best Local Schools in
Downtown Lexington, Lexington, KY

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of rentals in metropolitan areas across the United States, including Lexington. Our Lifestyle Ratings help you zero-in on the perfect place to call home. This takes in many factors including rankings of the best places for proximity to parks, luxury amenities, apartment complexes for the kids, raising pets, transit options, and much more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Downtown Lexington Apartments

What is the Cheapest Studio apartment in Downtown Lexington?

Currently the most affordable Cheap Studio Apartment in Downtown Lexington is at Studios180 - Short/Long Term Leases listed at $1,195.

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

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

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

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Lexington is starting from $1,033 at Davis Park Station - NOW Leasing!.

What is the most affordable Downtown Lexington Three Bedroom Apartment?

The best deal on a cheap Downtown Lexington Three Bedroom Apartment rental is at Davis Park Station - NOW Leasing! and starts from $1,250.

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.