Most Affordable Neighborhoods in Lexington, KY
Some of the cheapest neighborhoods in Lexington are Cardinal Valley, East Lexington, and West Lexington. These neighborhoods offer some of the lowest rent prices in Lexington, making them ideal for renters on a budget. As of November 3, 2025, the average rent in Lexington is $1,075, which is 2.3% 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.
Cardinal Valley
Average Rent
$912/Month
Year-Over-Year Rent Change
9.9%
TransitScore® Rating
31/100
Units Available
12 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.
East Lexington
Average Rent
$923/Month
Year-Over-Year Rent Change
4%
TransitScore® Rating
32/100
Units Available
16 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
$936/Month
Year-Over-Year Rent Change
1.1%
TransitScore® Rating
28/100
Units Available
35 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.
The Oaks Condominiums
Average Rent
$964/Month
TransitScore® Rating
24/100
Units Available
16 Rentals
The Oaks Condominiums is a top choice for budget-conscious renters for a variety of reasons. The average rent in The Oaks Condominiums is $964 while the city average is $1,075. Residents enjoy convenient access to Boone Station State Historic Site, Explorium, and Raven Run Nature Sanctuary. The neighborhood is considered car-dependent with a WalkScore® of 15.
Garden Springs
Average Rent
$982/Month
Year-Over-Year Rent Change
1.2%
TransitScore® Rating
31/100
Units Available
15 Rentals
When you’re looking for a great Lexington neighborhood on a budget, check out Garden Springs. The average rent is $982, compared to the city average of $1,075. Rent prices have increased by 1.2%. Garden Springs is convenient to Waveland State Historic Site, Turfland Mall, and Transylvania University. The community is somewhat walkable with a WalkScore® of 59.
Canterfield
Average Rent
$995/Month
TransitScore® Rating
0/100
Units Available
19 Rentals
Canterfield is an affordable neighborhood in Lexington with an average rent price of $995. Compare this to the city average of $1,075. Canterfield provides easy access to National College, Lexington, Explorium, and Clearwater Commons. It’s a somewhat walkable neighborhood with a WalkScore® of 53.
Emerson Woods
Average Rent
$1,019/Month
TransitScore® Rating
24/100
Units Available
23 Rentals
If you’re looking for a great, affordable neighborhood in Lexington, Emerson Woods might be the perfect place! It has an average rent price of $1,019, while the city’s average stands at $1,075. Emerson Woods is near Waveland State Historic Site, Lansbrook Center, and Blue Grass.
Brookdale Place
Average Rent
$1,032/Month
Units Available
12 Rentals
Brookdale Place is a top choice for budget-conscious renters for a variety of reasons. The average rent in Brookdale Place is $1,032 while the city average is $1,075. Residents enjoy convenient access to Raven Run Nature Sanctuary, Boone Station State Historic Site, and Lakeview Plaza.
Tates Creek
Average Rent
$1,045/Month
Year-Over-Year Rent Change
0.9%
TransitScore® Rating
23/100
Units Available
10 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.
Lynn Grove
Average Rent
$1,073/Month
TransitScore® Rating
72/100
Units Available
19 Rentals
When you’re looking for a great Lexington neighborhood on a budget, check out Lynn Grove. The average rent is $1,073, compared to the city average of $1,075. Lynn Grove is convenient to State Botanical Garden of Kentucky, Waveland State Historic Site, and Kentucky State University. The community is walkable with a WalkScore® of 70.
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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.