Most Affordable Neighborhoods in Lexington, KY
Some of the cheapest neighborhoods in Lexington are Ohio/Chestnut Street, West Lexington, and East Lexington. These neighborhoods offer some of the lowest rent prices in Lexington, making them ideal for renters on a budget. As of April 29, 2025, the average rent in Lexington is $1,077, which is 2.6% 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.
Ohio/Chestnut Street
Average Rent
$725/Month
TransitScore® Rating
45/100
Units Available
18 Rentals
When you’re looking for a great Lexington neighborhood on a budget, check out Ohio/Chestnut Street. The average rent is $725, compared to the city average of $1,077. Ohio/Chestnut Street is convenient to Liberty Shopping Center, Explorium, and Transylvania University. The community is walkable with a WalkScore® of 80.
West Lexington
Average Rent
$803/Month
Year-Over-Year Rent Change
0.7%
TransitScore® Rating
28/100
Units Available
48 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.
East Lexington
Average Rent
$853/Month
Year-Over-Year Rent Change
1.8%
TransitScore® Rating
32/100
Units Available
22 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.
Northside District
Average Rent
$888/Month
Year-Over-Year Rent Change
0.5%
TransitScore® Rating
43/100
Units Available
24 Rentals
Northside District is an affordable neighborhood in Lexington with an average rent price of $888. Compare this to the city average of $1,077. In the past year, rent prices have decreased by 0.5%. Northside District provides easy access to Northland Shopping Center, Kentucky State University, and Kentucky Horse Park. It’s a walkable neighborhood with a WalkScore® of 82.
Kenwick
Average Rent
$922/Month
Year-Over-Year Rent Change
1.4%
TransitScore® Rating
70/100
Units Available
23 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.
Shriners
Average Rent
$937/Month
Year-Over-Year Rent Change
12.7%
TransitScore® Rating
30/100
Units Available
17 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
$952/Month
Year-Over-Year Rent Change
4.8%
TransitScore® Rating
31/100
Units Available
11 Rentals
If you’re looking for a great, affordable neighborhood in Lexington, Garden Springs might be the perfect place! It has an average rent price of $952, while the city’s average stands at $1,077. In the last year, prices have increased by 4.8%. Garden Springs is near Transylvania University, Explorium, and Kentucky Horse Park.
Tates Creek
Average Rent
$1,002/Month
Year-Over-Year Rent Change
11.4%
TransitScore® Rating
23/100
Units Available
15 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.
Coolavin Park
Average Rent
$1,026/Month
TransitScore® Rating
37/100
Units Available
14 Rentals
Coolavin Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Coolavin Park is $1,026 while the city average is $1,077. Residents enjoy convenient access to Blue Grass, Kentucky State University, and Waveland State Historic Site. The neighborhood is considered walkable with a WalkScore® of 74.
North Elizabeth Street
Average Rent
$1,060/Month
Year-Over-Year Rent Change
0.9%
TransitScore® Rating
76/100
Units Available
34 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.
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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.