Most Affordable Neighborhoods in Lexington, KY
Some of the cheapest neighborhoods in Lexington are Terrace View, Hamilton Park, and Cardinal Valley. These neighborhoods offer some of the lowest rent prices in Lexington, making them ideal for renters on a budget. As of July 29, 2025, the average rent in Lexington is $1,093, which is 3.6% 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.
Terrace View
Average Rent
$791/Month
TransitScore® Rating
31/100
Units Available
12 Rentals
Terrace View is a top choice for budget-conscious renters for a variety of reasons. The average rent in Terrace View is $791 while the city average is $1,093. Residents enjoy convenient access to Waveland State Historic Site, Blue Grass, and Simpson Center. The neighborhood is considered car-dependent with a WalkScore® of 39.
Hamilton Park
Average Rent
$791/Month
TransitScore® Rating
32/100
Units Available
12 Rentals
When you’re looking for a great Lexington neighborhood on a budget, check out Hamilton Park. The average rent is $791, compared to the city average of $1,093. Hamilton Park is convenient to University of Kentucky, National College, Lexington, and Gardenside Shopping Center. The community is car-dependent with a WalkScore® of 48.
Cardinal Valley
Average Rent
$802/Month
Year-Over-Year Rent Change
9.9%
TransitScore® Rating
31/100
Units Available
11 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.
West Lexington
Average Rent
$854/Month
Year-Over-Year Rent Change
1%
TransitScore® Rating
28/100
Units Available
28 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
$910/Month
Year-Over-Year Rent Change
2.5%
TransitScore® Rating
32/100
Units Available
19 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.
Eastland Parkway
Average Rent
$1,007/Month
Year-Over-Year Rent Change
6.5%
TransitScore® Rating
29/100
Units Available
13 Rentals
Eastland Parkway is a tranquil neighborhood offering affordable housing and good schools like Dixie Elementary Magnet School. Eastland Parkway is known for Patchen Wilkes Farm, the horse nursery of businessman and University of Kentucky royalty Warren W. Rosenthal.
Kenwick
Average Rent
$1,018/Month
Year-Over-Year Rent Change
1.1%
TransitScore® Rating
70/100
Units Available
12 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.
The Oaks Condominiums
Average Rent
$1,026/Month
TransitScore® Rating
24/100
Units Available
16 Rentals
The Oaks Condominiums is an affordable neighborhood in Lexington with an average rent price of $1,026. Compare this to the city average of $1,093. The Oaks Condominiums provides easy access to Eastern Kentucky University, Lansdowne Shoppes, and Raven Run Nature Sanctuary. It’s a car-dependent neighborhood with a WalkScore® of 15.
Lansdowne
Average Rent
$1,047/Month
Year-Over-Year Rent Change
5.5%
TransitScore® Rating
24/100
Units Available
16 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.
Lynn Grove
Average Rent
$1,053/Month
TransitScore® Rating
72/100
Units Available
18 Rentals
If you’re looking for a great, affordable neighborhood in Lexington, Lynn Grove might be the perfect place! It has an average rent price of $1,053, while the city’s average stands at $1,093. Lynn Grove is near Explorium, Blue Grass, and Simpson Center.
Ready to make your move to Lexington? Check out the rent specials, price drops, and great deals on ApartmentFinder.com!
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.