Best Affordable Neighborhoods in Lexington, KY
Some of the cheapest neighborhoods in Lexington are East Lexington, West Lexington, and Cardinal Valley. These neighborhoods offer some of the lowest rent prices in Lexington, making them ideal for renters on a budget. As of May 5, 2026, the average rent in Lexington is $1,096, which is 1% higher than last year. However, it's important to remember that rental prices can vary significantly based on factors such as location, amenities, and floor plans.
East Lexington
Average Rent
$902/Month
Year-Over-Year Rent Change
3.5%
Units Available
31 Rentals
East Lexington is a growing neighborhood offering a variety of housing options and easy travel throughout Lexington. Its location along Kentucky Route 4 makes it ideal for commuters.
West Lexington
Average Rent
$918/Month
Year-Over-Year Rent Change
0.7%
Units Available
51 Rentals
West Lexington is located just inside Kentucky Route 4, giving residents easy access to the rest of the city while providing a slow pace of life surrounded by greenery. Ranch-style and colonial homes are a hallmark of this neighborhood.
Cardinal Valley
Average Rent
$932/Month
Units Available
31 Rentals
Cardinal Valley offers a community-oriented atmosphere and easy access to shopping and dining along Versailles Road. The area has a variety of homes in ranch and colonial architecture with manicured front lawns.
Shriners
Average Rent
$988/Month
Year-Over-Year Rent Change
0.8%
Units Available
15 Rentals
Named after the Shriners Children's Hospital, Shriners is a charming residential neighborhood offering renters a diverse selection of housing options. Although the hospital relocated to the UK HealthCare campus in 2017, Clay's Spring Park in front of the former hospital location remains a meeting point for community events.
Garden Springs
Average Rent
$990/Month
Year-Over-Year Rent Change
1.6%
Units Available
22 Rentals
Garden Springs is an affordable neighborhood in Lexington with an average rent price of $990. Compare this to the city average of $1,096. In the past year, rent prices have increased by 1.6%. Garden Springs provides easy access to Turfland Mall, Waveland State Historic Site, and National College, Lexington.
Kenwick
Average Rent
$1,091/Month
Year-Over-Year Rent Change
3.8%
Units Available
14 Rentals
Kenwick is a historic neighborhood known for its charming bungalows and tree-lined streets. Renters will enjoy the close-knit community and proximity to downtown Lexington, as well as local cafes and shops. The neighborhood is ideal for those seeking a blend of historic charm and modern living.
Tates Creek
Average Rent
$1,161/Month
Year-Over-Year Rent Change
5.9%
Units Available
13 Rentals
Tates Creek is a desirable neighborhood known for its spacious homes, well-maintained parks, and top-rated schools. This neighborhood is set apart by the Tates Creek Golf Course, a public golf course with a banquet room that residents can book for events.
North Elizabeth Street
Average Rent
$1,212/Month
Year-Over-Year Rent Change
1%
Units Available
27 Rentals
North Elizabeth Street is a charming neighborhood next door to the University of Kentucky. The college enriches the neighborhood culture by providing residents with easy access to shows at the Otis A. Singletary Center for the Arts, art exhibits at the University of Kentucky Art Museum, and sporting events at the University of Kentucky Memorial Coliseum.
Andover Forest
Average Rent
$1,238/Month
Units Available
21 Rentals
If you’re looking for a great, affordable neighborhood in Lexington, Andover Forest might be the perfect place! It has an average rent price of $1,238, while the city’s average stands at $1,096. Andover Forest is near Explorium, Andover Shoppes, and Blue Grass.
Lansdowne
Average Rent
$1,241/Month
Year-Over-Year Rent Change
3.9%
Units Available
28 Rentals
Lansdowne is a sought-after neighborhood that residents appreciate for its suburban atmosphere and proximity to shopping and dining along Tates Creek Road. The area is perfect for renters seeking a peaceful, well-maintained community.
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Methodology
Transit Score measures access to public transit. Scores range from 0 (minimal transit) to 100 (rider’s paradise). Learn more about the Transit Score methodology. Rental data is sourced from CoStar Group’s Market Trend reports. As a leading authority in commercial real estate information, analytics, and news, CoStar performs in-depth research to build and sustain an extensive database of commercial real estate insights.
We've combined this data with public records to provide the most current rental information available.