Cheap Homes for Rent in Lexington, KY from $600 (22 Rentals)

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property at 445 Davidson Ct

445 Davidson Ct

LexingtonKY40508

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.

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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.

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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 3573 Laredo Dr

3573 Laredo Dr

LexingtonKY40517

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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Lexington, KY Local Guide

Cheapest Neighborhoods for Apartments in Lexington, KY

Pricing Updated: 05/18/2025

Current apartment rentals in the Lexington, KY area range in price from $675 to $6,000 with an overall median price of $2,419. The three Lexington neighborhoods with the lowest median rent pricing are Meadowthorpe at $950, Hollywood at $1,395, and Ashland at $1,500. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Lexington Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Meadowthorpe$950$9501
Hollywood$1,447$1,3951
Ashland$1,500$1,5001
North Upper Street$1,500$8506
Stoney Brook$1,500$1,1956
Stonewall Community$1,695$1,6951
Tates Creek$1,695$1,6951
Historic South Hill$1,700$1,3951
Kenwick$1,700$8994
Ohio Chestnut Street$1,700$8509

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 $610. 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$610
BelleFontaine Apartment Homes0-1Studio,1BA$685
Caballo Crossing1 Bedroom 1 Bath1BR,1BA$700
Preakness ApartmentsP111BR,1BA$715
Oxford Circleoxf 1.11BR,1BA$735

Best Value Apartments for Rent in Lexington, KY

As of May 18, 2025 the best value apartment in the Lexington area is the $1.11 price per square foot B4 Stanton - 2 Bedroom, 3 Bathroom Model at Hamburg Farms in the in the Liberty Area neighborhood starting from $1,831. The second greatest value Lexington apartment is the 3 Bedroom 2.5 Bathroom Model at Tates Creek Village starting at $1,550 with a $1.03 price per square foot in the Lansdowne 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.
Hamburg FarmsB4 Stanton - 2 Bedroom, 3 Bathroom2BR,3BA$1.11
Tates Creek Village3 Bedroom 2.5 Bathroom3BR,2.5BA$1.03
The Pines3 Bedroom 2.5 Bath3BR,2.5BA$1.07
The StretchTwo Bedroom2BR,2BA$0.88
2844 Ryan Cir, Unit B2844 Ryan Cir2BR,5BA$1.00
Caballo Crossing2 Bedroom 1 Bath2BR,1BA$0.95
The Dawn Run Apartments2x1 SM2BR,1BA$1.08
Twenty Two Twenty2 Bedrooms, 1.5 Bathrooms2BR,1.5BA$0.95
Park VistaPV1.11BR,1BA$1.12
Preakness ApartmentsP111BR,1BA$1.07

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Lexington, KY Area Reviews

  • Parks
  • Entertainment
  • Local Vibes
  • Restaurants
  • Location
  • Traffic
  • Public Transportation
  • Outdoor Access
  • Cost of Living
  • Safety

Catrina • 4+ years in Lexington

February 25, 2025

Lexington is a great place for people of all types. It is, interestingly, highly bilingual, with many Spanish-speaking residents. Public transportation throughout Lexington is not the best, and the cost of living has skyrocketed in recent years. That being said, it is very safe for a city, and while I've experienced petty theft twice, both times were because I had left my vehicle unlocked at an apartment complex. The outdoor areas are beautiful here, and there are more restaurants than you'd know what to do with. Overall, you get modern amenities with a southern touch.

Frequently Asked Questions about Lexington

What type of rentals are currently available in Lexington?

There are currently 1061 Apartments for Rent in Lexington, KY with pricing that ranges from $625 to $5,735. There are also 166 Single Family Homes for rent, Condos, and Townhome rentals currently available in Lexington ranging from $675 to $6,000.

What is the current price range for Rental Homes in Lexington?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Lexington ranges from $675 to $6,000 with an average monthly rent of $1,892.

How much are larger Three and Four Bedroom Rentals in Lexington?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Lexington range from $854 to $4,098, while Three Bedroom Homes, Condos, and Townhomes for rent range from $899 to $6,000. Four Bedroom Single-Family rentals are also available starting from $1,400 and Four Bedroom Apartments start at $1,220.

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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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.

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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.

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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.