27 Cheap Apartments for rent in Lexington, KY

Last updated September 26 at 11:57AM
421 Redding Road
Lexington
Lexington, KY
Updated September 26 at 9:38AM
1 Bedroom
$580
163 Lakeshore Drive
Shriners
Lexington, KY
Updated September 22 at 9:58AM
1 Bedroom
$495
2035 Altamont Court
Shriners
Lexington, KY
Updated September 16 at 10:19AM
2 Bedrooms
$650
340 Madison Pl
Woodward Heights
Lexington, KY
Updated September 26 at 10:08AM
Studio
$600
265 Lyndhurst Pl
Aylesford Place-Woodland Park
Lexington, KY
Updated September 26 at 10:12AM
1 Bedroom
$650
381 South Main Street
Winchester
Winchester, KY
Updated August 15 at 4:53AM
Studio
$600
805 Fields Avenue
Frankfort
Frankfort, KY
Updated August 30 at 3:01AM
2 Bedrooms
$425
Results within 5 miles of Lexington, KY
102 Woodhill Lane
Frankfort
Frankfort, KY
Updated August 31 at 3:23AM
2 Bedrooms
$495
Results within 10 miles of Lexington, KY
101 Compton Dr
Frankfort
Frankfort, KY
Updated September 26 at 10:12AM
Studio
$465
1674 Maywick View Lane
Lexington
Lexington, KY
Updated August 27 at 10:05AM
2 Bedrooms
$600
Results within 20 miles of Lexington, KY
2157 Cypress
Garden Springs
Lexington, KY
Updated August 24 at 7:34PM
1 Bedroom
$575
568 N Broadway
North Upper Street
Lexington, KY
Updated September 26 at 1:35AM
Studio
$650
127 College St
Winchester
Winchester, KY
Updated September 26 at 1:32AM
2 Bedrooms
$675
565 Schenkel Ln
Frankfort
Frankfort, KY
Updated September 26 at 1:41AM
1 Bedroom
$495
4 Dogwood
Frankfort
Frankfort, KY
Updated September 19 at 2:16AM
1 Bedroom
$500
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Rent Report
Lexington

September 2017 Lexington Rent Report

Welcome to the September 2017 Lexington Rent Report. Lexington rents declined over the past month. In this report, we'll evaluate trends in the Lexington rental market, including comparisons to similar cities nationwide.

Lexington rents declined over the past month

Lexington rents have declined 0.6% over the past month, but have increased moderately by 2.8% in comparison to the same time last year. Currently, median rents in Lexington stand at $670 for a one-bedroom apartment and $860 for a two-bedroom. Lexington's year-over-year rent growth leads the state average of 2.7%, but trails the national average of 3.0%.

Lexington rents more affordable than many large cities nationwide

Rent growth in Lexington has been relatively stable over the past year - some other large cities have seen more substantial increases; in contrast, rents in a few cities have actually declined. Lexington is still more affordable than most large cities across the country.

  • Lexington's median two-bedroom rent of $860 is below the national average of $1,160. Nationwide, rents have grown by 3.0% over the past year compared to the 2.8% rise in Lexington.
  • While rents in Lexington remained moderately stable this year, similar cities saw increases, including Seattle (+5.4%), Phoenix (+4.9%), and Denver (+3.0%); note that median 2BR rents in these cities go for $1,710, $1,020, and $1,350 respectively.
  • Renters will find more reasonable prices in Lexington than most large cities. For example, San Francisco has a median 2BR rent of $3,070, which is more than three-and-a-half times the price in Lexington.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.