445 Davidson Ct
LexingtonKY40508
Cheap Homes for Rent in Downtown Lexington Neighborhood of Lexington, KY from $800 (6 Rentals)
Search the lowest-cost Homes available for rent right now in the Downtown Lexington area of Lexington.
Smart Renter's Guide: Calculating Affordable Rent & Housing Costs
Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.
453 Race St
LexingtonKY40508
Navigating the Rental Market: Tips for First-Time Renters
Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.
1456 Meadowthorpe Avenue, Unit Apartment #2
1456 Meadowthorpe Avenue
LexingtonKY40511
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.
133 Twelfth St, Unit A
133 Twelfth St
LexingtonKY40505
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!
509 W 3rd St
LexingtonKY40508
Lexington's Best Affordable Neighborhoods
Learn about Lexington and the best places to live with original content written by our Local Expert Catrina Cowart
137 Eddie St
LexingtonKY40508
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Downtown Lexington, Lexington, KY Local Guide
How much does it cost to rent a home in Downtown Lexington?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Downtown Lexington 2 Bedroom Homes for Rent | $1,600 | $950 | $2,500 |
| Downtown Lexington 3 Bedroom Homes for Rent | $1,600 | $899 | $2,100 |
| Downtown Lexington 4 Bedroom Homes for Rent | $3,037 | $1,800 | $4,800 |
Browse Homes for Rent in this Neighborhood
There are currently 6 rentals with your search options within a 2 mile radius of the Downtown Lexington Neighborhood of Lexington, KY.
Explore 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 MidTown Apartments priced from $610. 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 Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| MidTown Apartments | Bedroom | 1BR,1BA | $610 |
| VELO - Waller Avenue | NEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO... | 1BR,1BA | $745 |
| Rose Tower Apartments | One Bedroom | 1BR,1BA | $850 |
Best Value Apartments for Rent in Downtown Lexington, KY
As of May 15, 2025 the best value apartment in the Downtown Lexington area is the $1.83 price per square foot 4 x 3 End Unit Model at Burley Properties in the in the Downtown Lexington neighborhood starting from $2,500. The second greatest value Downtown Lexington apartment is the Two Bedroom Model at The Stretch starting at $865 with a $0.88 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. |
|---|---|---|---|
| Burley Properties | 4 x 3 End Unit | 4BR,3BA | $1.83 |
| The Stretch | Two Bedroom | 2BR,2BA | $0.88 |
| Signature | The Secretariat | 2BR,2BA | $1.13 |
| Davis Park Station - NOW Leasing! | One Bedroom | 1BR,1BA | $1.18 |
| Hub Limestone | 2x1 A | 2BR,1BA | $1.72 |
| Ferrill Square Apartments - 55+ Community | One Bedroom | 1BR,1BA | $1.29 |
| Trifecta on Red Mile | Trifecta on Red Mile - One Bedroom | 1BR,1BA | $1.66 |
| 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 | $2.21 |
Quick Rent Budget Calculator
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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 Downtown Lexington
What type of rentals are currently available in Downtown Lexington?
There are currently 487 Apartments for Rent in Downtown Lexington, KY with pricing that ranges from $580 to $5,702. There are also 29 Single Family Homes for rent, Condos, and Townhome rentals currently available in Downtown Lexington ranging from $850 to $4,800.
What is the current price range for Rental Homes in Downtown Lexington?
Today's rental pricing for Homes for Rent, Condos and Townhomes in Downtown Lexington ranges from $850 to $4,800 with an average monthly rent of $1,803.
How much are larger Three and Four Bedroom Rentals in Downtown Lexington?
For those who are looking for larger living arrangements, Three Bedroom Apartments in Downtown Lexington range from $875 to $2,100, while Three Bedroom Homes, Condos, and Townhomes for rent range from $899 to $2,100. Four Bedroom Single-Family rentals are also available starting from $1,800 and Four Bedroom Apartments start at $1,700.
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.
Know Your Budget: Calculating What You Can Realistically Afford When Renting
Written by: Lauren Harrington
Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.
The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.
Navigating the Rental Market: Tips for First-Time Renters
Written by: Sandy Baker
Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.