Cheap Apartments for Rent in the Southwest Lexington Neighborhood of Lexington, KY from $500 (80 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Southwest Lexington area of Lexington.

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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Southwest Lexington, Lexington, KY Local Guide

Cheapest Available Southwest Lexington Apartments for Rent

 

The cheapest available apartment rental in the Southwest Lexington area of Lexington, KY is a 1 Bed unit found at VELO - Waller Avenue priced from $745. Preakness Apartments has the second lowest priced unit, which is a 2 Beds apartment currently listed from $815. Here are the most affordable Southwest Lexington apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
VELO - Waller AvenueNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
Preakness ApartmentsP212BR,1BA$815
Brookhaven Apartments1 Bedroom/1 Bath1BR,1BA$825
The Racquet Club ApartmentsSport1BR,1BA$840
Lansdowne ApartmentsSmall 1BR/1BA1BR,1BA$850
Rose Tower ApartmentsOne Bedroom1BR,1BA$850
The Crossings Apartment Homes1 Bedroom, 1 Bathroom1BR,1BA$860
Breckinridge Court1 Bed 1 Bath 628 sf (a1)1BR,1BA$880
Chelsea Apartments1 Bedroom1BR,1BA$895
Harrods Point Apartments - Newly remodeledSmall one BedroomStudio,1BA$899

Best Value Apartments for Rent in Southwest Lexington, KY

As of March 27, 2025 the best value apartment in the Southwest Lexington area is the $0.79 price per square foot 132 Greenbriar Rd Model at 132 Greenbriar Rd in the in the Montclair neighborhood starting from $1,900. The second greatest value Southwest Lexington apartment is the House Model at MidTown Apartments starting at $1,700 with a $1.08 price per square foot in the Montclair neighborhood. Here is today’s list of the best values for Southwest Lexington apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
132 Greenbriar Rd132 Greenbriar Rd4BR,2BA$0.79
MidTown ApartmentsHouse4BR,4BA$1.08
Tates Creek Village3 Bedroom 2.5 Bathroom3BR,2.5BA$1.03
Palomar View Apartments2X22BR,2BA$1.36
Tates Creek Crossings2 Bedroom 1.5 Bath2BR,1.5BA$1.14
Preakness ApartmentsP212BR,1BA$0.88
Park Thirty992 Bedrooms 2 Bathrooms2BR,2BA$1.15
Rivers at BluegrassRenovated 1 Bed / 1 Bath1BR,1BA$1.30
Canter PointeAffirmed - 1x11BR,1BA$1.32
Brookhaven Apartments1 Bedroom/1 Bath1BR,1BA$1.38

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Pet Friendly Lifestyle
Southwest Lexington, Lexington, KY

Ranked #2

Among neighborhoods in Lexington, KY for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Southwest Lexington, Lexington, KY

School data provided by Great Schools

Best Local Schools in
Southwest Lexington, Lexington, KY

School data provided by Great Schools

Lifestyle Ratings

This website is proud to bring you our detailed rental search system called 'Lifestyle ratings', composed of rentals in cities and towns across the United States including Southwest Lexington, Lexington, and the greater Lexington area. LifeStyle Ratings are a useful tool for comparing and sorting apartments and neighborhoods when choosing your rental home. This takes in many factors including rankings of the best places for convenient access to the outdoors, luxury amenities, pet-friendly features, family-friendliness, proximity to transit, and more. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Southwest Lexington Apartments

What is a cheap apartment in Southwest Lexington?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Southwest Lexington is under $899.

What is the price of a cheap apartment in Southwest Lexington?

The cheapest apartment in Southwest Lexington is VELO - Waller Avenue which is listed at $745, while the average apartment in Southwest Lexington costs $3,345.

What types of apartments are the cheapest in Southwest 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 28 regular apartments in Southwest Lexington 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 Southwest Lexington?

Cheap apartments in Southwest Lexington have an average cost of $1,065 which is $2,280 cheaper than the average rent for all rentals in Southwest Lexington.

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.

decorative image for A Local Expert’s Guide To 10 Budget-Friendly Neighborhoods to Rent in Lexington article

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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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.

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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.

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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.