
Cheap Apartments for Rent in the Melrose-oak Park Neighborhood of Lexington, KY from $400 (14 Rentals)
Search the lowest-cost Apartments available for rent right now in the Melrose-oak Park area of Lexington.


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Preakness Apartments

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Melrose-oak Park, Lexington, KY Local Guide

How much does it cost to rent an apartment in Melrose-oak Park?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Melrose-oak Park Studio Apartments | $1,336 | $495 | $1,855 |
Melrose-oak Park 1 Bedroom Apartments | $1,237 | $715 | $1,995 |
Melrose-oak Park 2 Bedroom Apartments | $1,534 | $815 | $2,025 |
Melrose-oak Park 3 Bedroom Apartments | $1,431 | $973 | $2,145 |
Melrose-oak Park 4 Bedroom Apartments | $2,155 | $1,185 | $2,700 |
Browse Apartments in this Neighborhood
There are currently 14 rentals with your search options within a 1 mile radius of the Melrose-oak Park Neighborhood of Lexington, KY.
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Melrose-oak Park, Lexington, KY Local Guide
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Cheapest Available Melrose-oak Park Apartments for Rent
 The cheapest available apartment rental in the Melrose-oak Park area of Lexington, KY is a 1 Bed unit found at Preakness Apartments priced from $715. Ferrill Square Apartments - 55+ Community has the second lowest priced unit, which is a 1 Bed apartment currently listed from $854. Here are the most affordable Melrose-oak Park apartments for rent in Lexington, KY:
Apartment Listing | Model Name | Bed/Bath | Priced From |
---|---|---|---|
Preakness Apartments | P11 | 1BR,1BA | $715 |
Ferrill Square Apartments - 55+ Community | One Bedroom | 1BR,1BA | $854 |
Davis Park Station - NOW Leasing! | One Bedroom | 1BR,1BA | $870 |
The Studios at Belmont - MAJOR UTILITIES INCL | Studio | Studio,1BA | $895 |
MidTown Apartments | Woodland | 1BR,1BA | $975 |
Best Value Apartments for Rent in Melrose-oak Park, KY
As of May 01, 2025 the best value apartment in the Melrose-oak Park area is the $1.67 price per square foot Madison 2B Model at The Village at Great Acres in the in the Redd Road Rural Historic District neighborhood starting from $1,985. The second greatest value Melrose-oak Park apartment is the The Secretariat Model at Signature starting at $1,040 with a $1.13 price per square foot in the Downtown Lexington neighborhood. Here is today’s list of the best values for Melrose-oak Park apartments based on price per square foot:
Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
---|---|---|---|
The Village at Great Acres | Madison 2B | 2BR,2.5BA | $1.67 |
Signature | The Secretariat | 2BR,2BA | $1.13 |
Belmont Run Apartments | Two Bedroom | 2BR,1BA | $1.41 |
Davis Park Station - NOW Leasing! | One Bedroom | 1BR,1BA | $1.18 |
Preakness Apartments | P11 | 1BR,1BA | $1.07 |
Ferrill Square Apartments - 55+ Community | One Bedroom | 1BR,1BA | $1.29 |
907 Trifecta on Red Mile | Trifecta on Red Mile - One Bedroom | 1BR,1BA | $1.66 |
Townley Park Apartments | Augusta | 1BR,1BA | $1.95 |
The Flats at 345 | 325 Large One Bedroom | 1BR,1BA | $2.01 |
Artek Lofts | 1 Bed, 1 Bath Flat | 1BR,1BA | $2.25 |
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Pet Friendly LifestyleMelrose-Oak Park, Lexington, KY
Ranked #60
Among neighborhoods in Lexington, KY for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Best Local Schools in Melrose-Oak Park, Lexington, KY
School data provided by Great Schools
Frequently Asked Questions about Cheap Melrose-oak Park Apartments
What is a cheap apartment in Melrose-oak Park?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Melrose-oak Park is under $1,125.
What is the price of a cheap apartment in Melrose-oak Park?
The cheapest apartment in Melrose-oak Park is Preakness Apartments which is listed at $715, while the average apartment in Melrose-oak Park costs $3,345.
What types of apartments are the cheapest in Melrose-oak Park?
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 45 regular apartments in Melrose-oak Park 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.

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Written by: Christine Leonard, Esq.
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