Cheapest Neighborhoods in Lexington, KY
Some of the cheapest neighborhoods in Lexington are Shriners, Idle Hour Drive, and Terrace View. These neighborhoods offer some of the lowest rent prices in Lexington, making them ideal for renters on a budget. As of August 3, 2026, the average rent in Lexington is $1,122, which is 3.4% 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
$917/Month
Year-Over-Year Rent Change
7.6%
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.
Idle Hour Drive
Average Rent
$978/Month
Units Available
12 Rentals
When you’re looking for a great Lexington neighborhood on a budget, check out Idle Hour Drive. The average rent is $978, compared to the city average of $1,122.
Terrace View
Average Rent
$980/Month
Units Available
25 Rentals
Terrace View is an affordable neighborhood in Lexington with an average rent price of $980. Compare this to the city average of $1,122.
Hamilton Park
Average Rent
$980/Month
Units Available
25 Rentals
If you’re looking for a great, affordable neighborhood in Lexington, Hamilton Park might be the perfect place! It has an average rent price of $980, while the city’s average stands at $1,122.
Garden Springs
Average Rent
$986/Month
Year-Over-Year Rent Change
2.4%
Units Available
18 Rentals
Garden Springs is a top choice for budget-conscious renters for a variety of reasons. The average rent in Garden Springs is $986 while the city average is $1,122. This is a 2.4% difference from last year. Residents enjoy convenient access to Transylvania University, The Arboretum, State Botanical Garden of Kentucky, and National College, Lexington.
West Lexington
Average Rent
$990/Month
Year-Over-Year Rent Change
1.1%
Units Available
74 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
$990/Month
Year-Over-Year Rent Change
7.9%
Units Available
26 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.
Canterfield
Average Rent
$1,007/Month
Units Available
20 Rentals
When you’re looking for a great Lexington neighborhood on a budget, check out Canterfield. The average rent is $1,007, compared to the city average of $1,122.
Johnson Heights
Average Rent
$1,017/Month
Units Available
12 Rentals
Johnson Heights is an affordable neighborhood in Lexington with an average rent price of $1,017. Compare this to the city average of $1,122.
Cardinal Valley
Average Rent
$1,029/Month
Units Available
50 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.
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.