Looking for a cheap apartment for rent in Lexington, KY? With RENTCafé, finding an affordable apartment in Lexington, KY has never been easier. We feature 77 low-priced rentals directly from property managers, with rents lower than the Lexington, KY average. What is a cheap rent in Lexington, KY? The average apartment rent in Lexington is $874 per month so any rental south of $700 would be considered cheap here. Size matters though, so if you are in a market for a studio, expect to pay around $408 per month. If you’re looking to upgrade to a 1-bedroom apartment you’ll pay around $502, while a cheap 2-bedroom apartment will cost you about $619 per month. On RENTCafé, Lexington, KY rents go as low as $465/mo.