Most Affordable Neighborhoods in Lexington, KY
Some of the cheapest neighborhoods in Lexington are Ohio/Chestnut Street, West Lexington, and Cardinal Valley. These neighborhoods offer some of the lowest rent prices in Lexington, making them ideal for renters on a budget. As of March 16, 2025, the average rent in Lexington is $1,054, which is 3.3% 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.
Ohio/Chestnut Street
Average Rent
$737/Month
TransitScore® Rating
45/100
Units Available
15 Rentals
Ohio/Chestnut Street is an affordable neighborhood in Lexington with an average rent price of $737. Compare this to the city average of $1,054. Ohio/Chestnut Street provides easy access to Shops At Lexington Center, University of Kentucky, and Liberty Shopping Center. It’s a walkable neighborhood with a WalkScore® of 80.
West Lexington
Average Rent
$808/Month
Year-Over-Year Rent Change
1%
TransitScore® Rating
28/100
Units Available
27 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.
Cardinal Valley
Average Rent
$884/Month
Year-Over-Year Rent Change
18.7%
TransitScore® Rating
31/100
Units Available
10 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
$893/Month
Year-Over-Year Rent Change
2.6%
TransitScore® Rating
32/100
Units Available
30 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
$928/Month
Year-Over-Year Rent Change
0.1%
TransitScore® Rating
43/100
Units Available
18 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 $928, while the city’s average stands at $1,054. In the last year, prices have increased by 0.1%. Northside District is near Explorium, Shops At Lexington Center, and Kentucky State University.
Tates Creek
Average Rent
$1,011/Month
Year-Over-Year Rent Change
8.6%
TransitScore® Rating
23/100
Units Available
21 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.
North Elizabeth Street
Average Rent
$1,063/Month
Year-Over-Year Rent Change
1.1%
TransitScore® Rating
76/100
Units Available
71 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.
Kenwick
Average Rent
$1,083/Month
Year-Over-Year Rent Change
1.8%
TransitScore® Rating
70/100
Units Available
21 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.
Beaumont Residential
Average Rent
$1,114/Month
Year-Over-Year Rent Change
6.2%
TransitScore® Rating
26/100
Units Available
13 Rentals
Beaumont Residential is a top choice for budget-conscious renters for a variety of reasons. The average rent in Beaumont Residential is $1,114 while the city average is $1,054. This is a 6.2% difference from last year. Residents enjoy convenient access to University of Kentucky, Beaumont Centre, and Kentucky State University. The neighborhood is considered somewhat walkable with a WalkScore® of 60.
Southeast Lexington
Average Rent
$1,192/Month
Year-Over-Year Rent Change
2.7%
TransitScore® Rating
38/100
Units Available
369 Rentals
When you’re looking for a great Lexington neighborhood on a budget, check out Southeast Lexington. The average rent is $1,192, compared to the city average of $1,054. Rent prices have increased by 2.7%. Southeast Lexington is convenient to Raven Run Nature Sanctuary, Explorium, and Transylvania University. The community is somewhat walkable with a WalkScore® of 63.
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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.