close
View Me
Rent Specials
from $7151 to 3 Bedroom Apartments Available Now
Preakness Apartments
1707-1724 Versailles RdLexington, KY 40504
Cheap Apartments for Rent in the Red Mile Neighborhood of Lexington, KY from $500 (18 Rentals)
Search the lowest-cost Apartments available for rent right now in the Red Mile area of Lexington.
close
View Me
close
View Me
from $7551 to 2 Bedroom Apartments Available Now
1901 Apartment Homes
1909 Cambridge DrLexington, KY 40504
close
View Me
from $8601 to 3 Bedroom Apartments Available Now
The Crossings Apartment Homes
1040 Cross Keys RdLexington, KY 40504
close
View Me
from $8701 to 3 Bedroom Apartments Contact Us For Availability
Davis Park Station - NOW Leasing!
512 De Roode StreetLexington, KY 40508
close
View Me
close
View Me
Rent Specials
from $9001 Bedroom Apartments Contact Us For Availability
Senior Housing 55+ - Christian Towers II
1513 Versailles RdLexington, KY 40504
close
View Me
close
View Me
close
View Me
Lexington's Best Affordable Neighborhoods
Learn about Lexington and the best places to live with original content written by our Local Expert Catrina Cowart
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
close
View Me
2 to 3 Bedroom Apartments
Westminster Village - Affordable Housing
1510 Versailles RdLexington, KY 40504
Showing Results 1-18, Page 1 of 1
Red Mile, Lexington, KY Local Guide
How much does it cost to rent an apartment in Red Mile?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Red Mile Studio Apartments | $1,446 | $935 | $2,149 |
| Red Mile 1 Bedroom Apartments | $1,373 | $531 | $4,732 |
| Red Mile 2 Bedroom Apartments | $1,363 | $815 | $1,670 |
| Red Mile 3 Bedroom Apartments | $1,861 | $820 | $6,013 |
| Red Mile 4 Bedroom Apartments | $2,366 | $1,700 | $2,700 |
Browse Apartments in this Neighborhood
There are currently 18 rentals with your search options within a 2 mile radius of the Red Mile Neighborhood of Lexington, KY.
See all Apartments in LexingtonExplore Lexington
Red Mile, Lexington, KY Local Guide
- Nearby Lexington neighborhoods
- Nearby Cities
- ZIP codes
- Local Counties
- School Districts
Cheapest Available Red Mile Apartments for Rent
The cheapest available apartment rental in the Red Mile area of Lexington, KY is a 1 Bed unit found at VELO - Waller Avenue priced from $745. 1901 Apartment Homes has the second lowest priced unit, which is a 1 Bed apartment currently listed from $755. Here are the most affordable Red Mile 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 |
| 1901 Apartment Homes | 1 Bedroom, 1 Bathroom | 1BR,1BA | $755 |
| Preakness Apartments | P21 | 2BR,1BA | $815 |
| The Crossings Apartment Homes | 1 Bedroom, 1 Bathroom | 1BR,1BA | $860 |
| Preserve Lexington | A1 | 1BR,1BA | $1,057 |
Best Value Apartments for Rent in Red Mile, KY
As of March 27, 2025 the best value apartment in the Red Mile 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 Red Mile 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 Red Mile 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 |
| Preakness Apartments | P21 | 2BR,1BA | $0.88 |
| Signature | The Secretariat | 2BR,2BA | $1.13 |
| Thoroughbred Crossing | 2 Bedroom Garden floor | 2BR,1BA | $1.22 |
| 1901 Apartment Homes | 2 Bedrooms, 1 Bathroom | 2BR,1BA | $1.13 |
| Trifecta on Red Mile: MAJOR Renovations | One Bedroom | 1BR,1BA | $1.68 |
| The Crossings Apartment Homes | 1 Bedroom, 1 Bathroom | 1BR,1BA | $1.38 |
| Limestone Square/Medical Villas | Medical Villas (Renovated) | 1BR,1BA | $2.44 |
| Preserve Lexington | A1 | 1BR,1BA | $2.39 |
Quick Rent Budget Calculator
How much rent can you afford?
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.
Let everyone know!
Do you know the Red Mile area?
If you’re an expert on all things Red Mile, tell us what you love (and don't) by rating it and writing a review.
Write a Review
Pet Friendly LifestyleRed Mile, Lexington, KY
Ranked #48
Among neighborhoods in Lexington, KY for Apartment listings with Pet Friendly Amenities
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Lifestyle Ratings
This website is proud to bring you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals in cities and towns across the United States and customized analysis for Lexington, Kentucky. LifeStyle Ratings are the best way to sort through finding a place to live - beyond price and floorplan. This takes in many factors including filtering automatically for proximity to parks, luxury housing options, apartment complexes for the kids, raising pets, transit options, and more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!
Getting Around the Red Mile Neighborhood in Lexington, KY
Walk Score®
57 / 100
Somewhat Walkable
Some errands can be accomplished on foot
Bike Score®
66 / 100
Bikeable
Some bike infrastructure
Transit Score®
45 / 100
Some Transit
A few nearby public transportation options
What Are Walk Score®, Transit Score®, and Bike Score® Ratings?
- Walk Score® measures the walkability of any address.
- Transit Score® measures access to public transit.
- Bike Score® measures the bikeability of any address.
Frequently Asked Questions about Cheap Red Mile Apartments
What is a cheap apartment in Red Mile?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Red Mile is under $1,269.
What is the price of a cheap apartment in Red Mile?
The cheapest apartment in Red Mile is VELO - Waller Avenue which is listed at $745, while the average apartment in Red Mile costs $3,345.
What types of apartments are the cheapest in Red Mile?
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 17 regular apartments in Red Mile that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.
How do the prices of cheap apartments compare to the average apartment in Red Mile?
Cheap apartments in Red Mile have an average cost of $1,581 which is $1,764 cheaper than the average rent for all rentals in Red Mile.
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.