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.

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property at 422 Pyke Rd

422 Pyke Rd

LexingtonKY40504

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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 Preakness Apartments priced from $715. VELO - Waller Avenue has the second lowest priced unit, which is a 1 Bed apartment currently listed from $745. Here are the most affordable Southwest Lexington apartments for rent in Lexington, KY:

Apartment ListingModel NameBed/BathPriced From
Preakness ApartmentsP111BR,1BA$715
VELO - Waller AvenueNEWLY RENOVATED, AFFORDABLE, UNFURNISHED STUDIO...1BR,1BA$745
1592 Alexandria Dr1 Beds, 1 Baths1BR,1BA$750
Breckinridge CourtStudio 460 sf (st2)1BR,1BA$785
Brookhaven Apartments1 Bedroom/1 Bath1BR,1BA$825
Lansdowne ApartmentsSmall 1BR/1BA1BR,1BA$850
Rose Tower ApartmentsOne Bedroom1BR,1BA$850
The Crossings Apartment Homes1 Bedroom, 1 Bathroom1BR,1BA$860
Davis Park Station - NOW Leasing!One Bedroom1BR,1BA$870
The Studios at Belmont - MAJOR UTILITIES INCLStudioStudio,1BA$895

Best Value Apartments for Rent in Southwest Lexington, KY

As of April 28, 2025 the best value apartment in the Southwest Lexington area is the $1.03 price per square foot 3 Bedroom 2.5 Bathroom Model at Tates Creek Village in the in the Lansdowne neighborhood starting from $1,550. The second greatest value Southwest Lexington apartment is the The Pointe Pleasant Model at Creeks on Kirklevington starting at $1,376 with a $1.10 price per square foot in the The Meadows At Brannon Crossing 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.
Tates Creek Village3 Bedroom 2.5 Bathroom3BR,2.5BA$1.03
Creeks on KirklevingtonThe Pointe Pleasant2BR,1.5BA$1.10
Tates Creek Crossings2 Bedroom 1.5 Bath2BR,1.5BA$1.14
Park Thirty992 Bedrooms 2 Bathrooms2BR,2BA$1.15
The Callaway1 Bedroom Premium1BR,1BA$1.20
Rivers at BluegrassRenovated 1 Bed / 1 Bath1BR,1BA$1.30
Davis Park Station - NOW Leasing!One Bedroom1BR,1BA$1.18
Canter PointeAffirmed - 1x11BR,1BA$1.32
Preakness ApartmentsP111BR,1BA$1.07
1592 Alexandria Dr1 Beds, 1 Baths1BR,1BA$1.15

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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

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 $895.

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

The cheapest apartment in Southwest Lexington is Preakness Apartments which is listed at $715, 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 32 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 $1,098 which is $2,247 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.

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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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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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Rise of Digital Nomads: Remote Work Tips for Apartment Renters

Written by: Brandie Parton

As a digital nomad, you no longer call a set address or office building your home for eight hours of the day or more.

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Know Your Rights - How Discrimination Laws Impact Landlords and Tenants

Written by: Christine Leonard, Esq.

Everyone needs a place to live and to call home. For decades, the federal government has established protections to ensure that individuals and families can find housing free from discriminatory barriers.