Welcome to Lexington, Kentucky—the Horse Capital of the World! Known for its rolling bluegrass fields, historic charm, and rich equestrian culture, Lexington is a fantastic place to call home. However, like any city, finding an affordable rental can be challenging. Thankfully, several neighborhoods in Lexington offer a balance of value and comfort.
To help make your move less stressful, we’ve rounded up five of the most affordable neighborhoods in Lexington. From quiet, tree-lined streets to thriving community hubs, there’s something for everyone here.
The five cheapest neighborhoods in Lexington in 2024 are:
Kenwick
- Average 1-bedroom rent in Lexington: $1,044/month
- Average 1-bedroom rent in Kenwick: $695/month
- Median home value in Kenwick: $575,000
Nestled just southeast of downtown, Kenwick is a charming neighborhood buzzing with character. Its streets are lined with historic bungalows, showcasing architecture that blends early-20th-century craftsmanship with a modern touch. This close-knit community is perfect for those who yearn for a cozy, walkable neighborhood with friendly faces around each corner.
Things to do in Kenwick
Kenwick offers plenty to keep residents entertained. Stop by Ashland: The Henry Clay Estate for a stroll through the captivating gardens or explore some of Lexington’s tastiest coffee spots along Main Street. Every summer, the Kenwick Bungalow Tour is a highlight, celebrating the neighborhood’s rich architectural history with house tours, food trucks, and live music.
Transportation
Transit options in Kenwick include Lextran bus route 1, which provides efficient service to Downtown Lexington and beyond. For those who prefer to drive, Richmond Road connects the neighborhood to the rest of the city. Biking is also popular here, thanks to the neighborhood's pedestrian-friendly layout.
West Lexington
- Average 1-bedroom rent in Lexington: $1,044/month
- Average 1-bedroom rent in West Lexington: $778/month
- Median home value in West Lexington: $294,950
Known for its variety of housing options from charming single-story homes to affordable apartments, West Lexington neighborhood provides solid value for renters. It's an excellent spot for newcomers who want affordability without sacrificing access to city amenities.
Things to do in West Lexington
West Lexington residents enjoy a well-rounded lifestyle, with plenty of nearby attractions like Masterson Station Park, where you can find trails, a dog park, and equestrian events. For a fun evening event, catch a show at Manchester Music Hall or Rupp Arena. Local restaurants and breweries keep foodies and craft beer enthusiasts satisfied year-round.
Transportation
The neighborhood is serviced by several Lextran bus routes, making commuting without a car manageable. For drivers, access to major routes like Versailles Road and New Circle Road makes traveling easy. The area is also friendly for cyclists, with bike lanes on key streets.
East Lexington
- Average 1-bedroom rent in Lexington: $1,044/month
- Average 1-bedroom rent in East Lexington: $795/month
- Median home value in East Lexington: $215,000
East Lexington offers peaceful living with plenty to do nearby. The neighborhood is rich in diversity and boasts a pocket of affordable rental homes suitable for a variety of needs. With parks, schools, and local eateries close by, East Lexington is a great place for anyone to live.
Things to do in East Lexington
East Lexington offers its residents plenty to do, between minor league baseball games at Legends Field and guided tours and tastings of craft bourbon at Bluegrass Distillers. East Lexington also boasts a thriving farmer's market, giving families access to fresh and local produce all year long.
Transportation
East Lexington’s location along major roads like Newton Pike and Winchester Road allows for easy commutes into Downtown Lexington. Lextran bus routes cover this area well, ensuring affordable and fast public transport for residents across the neighborhood.
Shriners
- Average 1-bedroom rent in Lexington: $1,044/month
- Average 1-bedroom rent in Shriners: $828/month
- Median home value in Shriners: $921,000
Shriners is a hidden gem located near the University of Kentucky's campus. Named after the Shriners Hospital for Children now located in North Elizabeth Street, this neighborhood is ideal for renters seeking a budget-friendly lifestyle. Shriners’ tree-lined streets and green spaces offer a charming contrast to its more urban surroundings.
Things to do in Shriners
Enjoy green escapes, such as Clay’s Spring Park, where you can relax, read a book, or enjoy picnics with family and friends. Golf enthusiasts will enjoy the nearby Idle Hour Country Club, and history buffs can spend a day at Henry Clay’s 19th century-estate at Ashland. And don’t forget to check out neighborhood events during basketball season—you're just blocks from cheering along with legions of UK sports fans.
Transportation
Residents are well-served by Lextran bus routes 1, 11, and 51, with convenient stops connecting to downtown and other neighborhoods. The area also offers easy access to Richmond Road and Tates Creek Road, providing seamless entry to Lexington's core or destinations further east. Bike lanes are also becoming more popular, keeping Shriners eco-conscious and bike-friendly.
Garden Springs
- Average 1-bedroom rent in Lexington: $1,044/month
- Average 1-bedroom rent in Garden Springs: $852/month
- Median home value in Garden Springs: $269,950
Tucked away in the southwestern part of the city, Garden Springs combines affordability with friendly charm. This peaceful neighborhood is adored by residents for its strong sense of community and access to great schools. If you're looking for a neighborhood with a welcoming feel, Garden Springs should be on your radar.
Things to do in Garden Springs
The Garden Springs Park is a local fixture, offering spaces for kids to play and adults to relax. Golf enthusiasts will love spending rainy weekends at the nearby Southland Golf indoor golf simulator. Residents here also take pride in their neighborhood association, which organizes seasonal events that bring neighbors together for fun and friendship.
Transportation
Garden Springs offers easy access to Harrodsburg Road, perfect for those commuting to Downtown Lexington. While the area isn’t as transit-heavy as others, Lextran bus routes 13 and 16 ensure public transport options are still accessible. A growing number of walking trails and bike-friendly street designs are further enhancing the area's connectivity.
Make the Most of Your Move with Apartments.com
Whether you’re dropping in for a short-term lease or hoping to set down roots, Apartments.com has the tools to help you find an affordable apartment easily. Navigate housing across neighborhoods with our customized search engine. Once you find the perfect location, narrow the search within a price range that works for you.
No matter the budget, the options are endless with Apartments.com. Ready to get started? Pay less, live more, and rent on.
Apartment rent data provided by CoStar Group’s November 2024 reports.
