27 Cheap Apartments for rent in Lexington, KY

Last updated January 20 at 11:42am UTC
243 Stone Ave
Aylesford Place-Woodland Park
Lexington, KY
Updated January 18 at 2:03pm UTC
1 Bedroom
$600
340 Madison Pl
Woodward Heights
Lexington, KY
Updated January 4 at 9:30am UTC
Studio
$600
265 Lyndhurst Pl
Aylesford Place-Woodland Park
Lexington, KY
Updated January 20 at 11:42am UTC
1 Bedroom
$650
261 Lyndhurst Pl
Aylesford Place-Woodland Park
Lexington, KY
Updated January 20 at 11:41am UTC
1 Bedroom
$625
628 Pasadena Drive
Lexington
Lexington, KY
Updated January 15 at 1:12am UTC
1 Bedroom
$475
1674 Alexandria Drive
Lexington
Lexington, KY
Updated January 3 at 11:38am UTC
1 Bedroom
$500
861 E High Street
Chenault Road
Lexington, KY
Updated January 9 at 9:43am UTC
1 Bedroom
$525
421 Redding Road
Lexington
Lexington, KY
Updated January 3 at 11:40am UTC
1 Bedroom
$625
109 Hagerman Court
Aylesford Place-Woodland Park
Lexington, KY
Updated January 16 at 9:27am UTC
1 Bedroom
$450
713 N Upper St
Lexington
Lexington, KY
Updated January 19 at 11:05am UTC
1 Bedroom
$650
468 N Limestone
North Upper Street
Lexington, KY
Updated January 4 at 12:30pm UTC
1 Bedroom
$575
1580 Alexandria Dr
Lexington
Lexington, KY
Updated January 4 at 9:33am UTC
1 Bedroom
$650
419 Aylesford Pl
Aylesford Place-Woodland Park
Lexington, KY
Updated January 18 at 10:12am UTC
Studio
$595
1592 Alexandria Dr
Lexington
Lexington, KY
Updated January 6 at 10:16am UTC
1 Bedroom
$650
185 Donabrook Ct
Lexington
Lexington, KY
Updated January 20 at 11:41am UTC
2 Bedrooms
$625
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January 2018 Lexington Rent Report

Welcome to the January 2018 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.

View full Lexington Rent Report
Rent Report
Lexington

January 2018 Lexington Rent Report

Welcome to the January 2018 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 marginally over the past month

Lexington rents have declined 0.1% over the past month, but are up slightly by 1.8% in comparison to the same time last year. Currently, median rents in Lexington stand at $660 for a one-bedroom apartment and $850 for a two-bedroom. Lexington's year-over-year rent growth leads the state average of 1.0%, but trails the national average of 2.8%.

Lexington rents more affordable than many large cities nationwide

As rents have increased slightly in Lexington, a few large cities nationwide have also seen rents grow modestly. Lexington is still more affordable than most large cities across the country.

  • Lexington's median two-bedroom rent of $850 is below the national average of $1,160. Nationwide, rents have grown by 2.8% over the past year compared to the 1.8% rise in Lexington.
  • While Lexington's rents rose slightly over the past year, many cities nationwide also saw increases, including Phoenix (+3.8%), Seattle (+3.0%), and Dallas (+2.2%).
  • Renters will find more reasonable prices in Lexington than most large cities. For example, San Francisco has a median 2BR rent of $3,010, 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.