500 Ohio St
LexingtonKY40508
Cheap Apartments for Rent in the Downtown Lexington Neighborhood of Lexington, KY from $500 (29 Rentals)
Search the lowest-cost Apartments available for rent right now in the Downtown Lexington area of Lexington.
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from $7251 to 3 Bedroom Apartments Contact Us For Availability
Rosetown Apartments
320 Elm Tree LnLexington, KY 40508
261 Lyndhurst Pl
LexingtonKY40508
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from $7401 to 2 Bedroom Apartments Contact Us For Availability
Meadowthorpe Landing - Senior Housing
1447 Antique DrLexington, KY 40511
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from $7941 Bedroom Apartments Available Now
Ferrill Square Apartments - 55+ Community
471 Price RdLexington, KY 40508
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from $795Studio Apartments Available Aug 14
Kampus Properties STUDENT HOUSING - 2024-'25
400-418 Aylesford PlLexington, KY 40508
1023 N Broadway
LexingtonKY40505
468 N Limestone
LexingtonKY40508
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from $8501 Bedroom Apartments Contact Us For Availability
Rose Tower Apartments
137 Rose StLexington, KY 40507
Downtown 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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from $8701 to 3 Bedroom Apartments Contact Us For Availability
Davis Park Station - NOW Leasing!
512 De Roode StreetLexington, KY 40508
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from $895Studio Apartments Available Now
The Studios at Belmont - ALL UTILITIES INCL
333 Legion DrLexington, KY 40504
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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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1 Bedroom Apartments
Woodland Park Apartments - UTILITIES INCLUDED
184 Old Park AveLexington, KY 40502
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Showing Results 1-29, Page 1 of 1
Downtown Lexington, Lexington, KY Local Guide
How much does it cost to rent an apartment in Downtown Lexington?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Lexington Studio Apartments | $1,356 | $795 | $1,755 |
| Downtown Lexington 1 Bedroom Apartments | $1,386 | $570 | $3,941 |
| Downtown Lexington 2 Bedroom Apartments | $1,630 | $800 | $5,823 |
| Downtown Lexington 3 Bedroom Apartments | $2,050 | $820 | $6,123 |
| Downtown Lexington 4 Bedroom Apartments | $2,366 | $1,700 | $2,700 |
Browse Apartments in this Neighborhood
There are currently 29 rentals with your search options within a 2 mile radius of the Downtown Lexington Neighborhood of Lexington, KY.
See all Apartments in LexingtonExplore Lexington
Downtown Lexington, Lexington, KY Local Guide
- Nearby Lexington neighborhoods
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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 VELO - Waller Avenue priced from $745. Ferrill Square Apartments - 55+ Community has the second lowest priced unit, which is a 1 Bed apartment currently listed from $794. Here are the most affordable Downtown Lexington apartments for rent in Lexington, KY:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| VELO - Waller Avenue | NEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO... | 1BR,1BA | $745 |
| Ferrill Square Apartments - 55+ Community | One Bedroom | 1BR,1BA | $794 |
| Rose Tower Apartments | One Bedroom | 1BR,1BA | $850 |
| The Studios at Belmont - ALL UTILITIES INCL | Studio | Studio,1BA | $895 |
| Preserve Lexington | A1 | 1BR,1BA | $1,028 |
| Trifecta on Red Mile: MAJOR Renovations | One Bedroom | 1BR,1BA | $1,095 |
| Park Plaza Apartments | Maxwell | Studio,1BA | $1,120 |
| Artek Lofts | 1 Bed, 1 Bath Flat | 1BR,1BA | $1,125 |
| The Flats at 345 | 325 Large One Bedroom | 1BR,1BA | $1,125 |
| Studios180 - Short/Long Term Leases | Studio | Studio,1BA | $1,195 |
Best Value Apartments for Rent in Downtown Lexington, KY
As of April 08, 2025 the best value apartment in the Downtown Lexington area is the $1.08 price per square foot House Model at MidTown Apartments in the in the Montclair neighborhood starting from $1,700. The second greatest value Downtown Lexington apartment is the 4 x 3 End Unit Model at Burley Properties starting at $2,500 with a $1.83 price per square foot in the Downtown Lexington neighborhood. Here is today’s list of the best values for Downtown Lexington apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| MidTown Apartments | House | 4BR,4BA | $1.08 |
| Burley Properties | 4 x 3 End Unit | 4BR,3BA | $1.83 |
| Signature | The Secretariat | 2BR,2BA | $1.13 |
| Hub Limestone | 2x1 A | 2BR,1BA | $1.72 |
| Ferrill Square Apartments - 55+ Community | One Bedroom | 1BR,1BA | $1.20 |
| Trifecta on Red Mile: MAJOR Renovations | One Bedroom | 1BR,1BA | $1.68 |
| The Flats at 345 | 325 Large One Bedroom | 1BR,1BA | $2.01 |
| Artek Lofts | 1 Bed, 1 Bath Flat | 1BR,1BA | $2.25 |
| Rose Tower Apartments | One Bedroom | 1BR,1BA | $1.89 |
| Preserve Lexington | A1 | 1BR,1BA | $2.32 |
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Pet Friendly LifestyleDowntown Lexington, Lexington, KY
Ranked #31
Among neighborhoods in Lexington, KY for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
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 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 $1,195.
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 19 regular apartments in Downtown Lexington that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
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.
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.
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.
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.
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.