Cheapest Neighborhoods in Lexington, KY
Some of the cheapest neighborhoods in Lexington are Shriners, Terrace View, and Hamilton Park. These neighborhoods offer some of the lowest rent prices in Lexington, making them ideal for renters on a budget. As of September 18, 2026, the average rent in Lexington is $1,122, which is 2.8% 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.
Shriners
Average Rent
$946/Month
Year-Over-Year Rent Change
4%
Units Available
19 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.
Terrace View
Average Rent
$971/Month
Units Available
26 Rentals
Terrace View is a top choice for budget-conscious renters for a variety of reasons. The average rent in Terrace View is $971 while the city average is $1,122. Residents enjoy convenient access to Transylvania University, Veterans Park, and Commonwealth Plaza.
Hamilton Park
Average Rent
$971/Month
Units Available
26 Rentals
When you’re looking for a great Lexington neighborhood on a budget, check out Hamilton Park. The average rent is $971, compared to the city average of $1,122. Hamilton Park is convenient to Kentucky State University, Veterans Park, and Shoppers Village Center.
Garden Springs
Average Rent
$986/Month
Year-Over-Year Rent Change
2.4%
Units Available
28 Rentals
Garden Springs is an affordable neighborhood in Lexington with an average rent price of $986. Compare this to the city average of $1,122. In the past year, rent prices have increased by 2.4%. Garden Springs provides easy access to Blue Grass, Transylvania University, and Kentucky State University.
West Lexington
Average Rent
$992/Month
Year-Over-Year Rent Change
0.4%
Units Available
78 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
$1,002/Month
Year-Over-Year Rent Change
5.6%
Units Available
20 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.
Cardinal Valley
Average Rent
$1,035/Month
Year-Over-Year Rent Change
0.1%
Units Available
43 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.
Northside District
Average Rent
$1,043/Month
Year-Over-Year Rent Change
6.9%
Units Available
69 Rentals
If you’re looking for a great, affordable neighborhood in Lexington, Northside District might be the perfect place! It has an average rent price of $1,043, while the city’s average stands at $1,122. In the last year, prices have increased by 6.9%. Northside District is near University of Kentucky, Explorium, and Blue Grass.
Coolavin Park
Average Rent
$1,044/Month
Units Available
71 Rentals
Coolavin Park is a top choice for budget-conscious renters for a variety of reasons. The average rent in Coolavin Park is $1,044 while the city average is $1,122. Residents enjoy convenient access to Veterans Park, National College, Lexington, and Transylvania University.
Georgetown
Average Rent
$1,045/Month
Year-Over-Year Rent Change
3.1%
Units Available
68 Rentals
When you’re looking for a great Lexington neighborhood on a budget, check out Georgetown. The average rent is $1,045, compared to the city average of $1,122. Rent prices have increased by 3.1%. Georgetown is convenient to North Park Marketplace, Kentucky State University, and Blue Grass.
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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.