Updated 5 Hours Ago
Highlights
Pet Friendly
Location
733 Hill Rise Ct, Lexington, KY 40504, USA
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Management
Lexington Villas
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Property Overview
Preakness Apartments has an expert rating of 7.0, reflecting a balanced overall impression. It offers outdoor spaces and is noted as great for pet friendliness, while the pros highlight these features as key positives.
This summary uses Zumper’s proprietary data. “Zumper Expert Ratings,” “Things you’ll love,” and “Great for” are based on our internal analyses of market trends and renter insights.
Things you’ll love
High school nearby- Less expensive
Great for
Pet owners
Floor plans
| 1/1 | 1 bed | 1 bath | 600 sqft | $750 /mo | |||
| 2/1 | 2 bed | 1 bath | 750 sqft | $995 /mo | |||
| 3/1 | 3 bed | 1 bath | 1,000 sqft | $1,150 /mo |
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Amenities for Preakness Apartments
Apartment Amenities
| Air Conditioning | Carpet |
| Central Heat | Heating |
| Laminate Counter Tops | Pantry |
| Tile Flooring | Walk-in Closet |
| Window Coverings |
Appliances
| Dishwasher | In-Unit Laundry |
| Range | Refrigerator |
Tech
| Cable | Climate Control |
Building
| Cats OK | Dogs OK |
| Handrails |
Grounds
| Courtyard | Outdoor Space |
| Playground | Storage |
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.
Policies and fees
Applicants
Applicants
One-time.
Contact Property
REQUIRED FEES
Security Deposit
One-time. Refundable.
Contact Property
Dog Policy
Allowed
Limit1
Breed restrictionsYes
2 Pet Max- $30.00 monthly pet rent per pet. Non refundable pet deposit. 25lbs or less $300.00 per pet and 25lbs or more $600.00 per pet. Max pet limit 100lbs.
Cat Policy
Allowed
Limit1
Questions about this property’s policies and fees?
Building details
Property details
| Units | 3 |
|---|
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About Preakness Apartments
Welcome to The Preakness Apartments, now under new ownership and professional management with an exciting new vision for the community. More than $3 million is being invested into renovating apartments, improving common areas, upgrading the grounds, and creating a cleaner, more comfortable place to call home. We currently offer spacious 1, 2, and 3 bedroom apartments with options for a variety of household sizes and needs. Residents can enjoy a large soccer field, a children's play area, convenient on-site laundry, ample parking, and open community space. Apartment homes are being refreshed and upgraded as part of the property's major rehabilitation program. New ownership and management are focused on responsive service, better maintenance, and long-term improvements throughout the community. Come see the transformation at The Preakness Apartments and discover a community that is moving forward. Contact us today to learn about availability, pricing, and upcoming move-in opportunities.!
Zumper Expert Rating
Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.3
/10
Very GoodWith a solid 8.3 out of 10 overall, Preakness Apartments is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Preakness Apartments has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
Price·10A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
Preakness Apartments offers an excellent balance between price and value. It's priced competitively for its amenities, location, and other key features. Compared to the median price per bedroom in the area, this property is less than, or about the same as, nearby rentals, so residents can expect great value without too many compromises on their desired standard of living.
Amenities·8A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
With multiple in-demand amenities, Preakness Apartments is committed to enhancing the renting experience. And while it may have fewer total conveniences and features than similar rentals nearby, it remains a top choice for renters wanting an specific standard of living.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
Preakness Apartments is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While Preakness Apartments does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·7A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
Preakness Apartments provides some information about the features available in the community and its apartments, making it a reliable option for prospective renters. Renters should ask additional questions about amenities and non-negotiable items they are looking for.
Preakness Apartments is great for:
Property highlights
We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.How Preakness Apartments compares to other nearby properties.
Positives
- High school nearby
- There is a high school 1 mile away
- Less expensive
- The 3-bedrooms are cheaper than other similar listings nearby
Considerations
- Greater distance from grade schools
- The nearest elementary school is farther than 1 mile away
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Rent trends in Lexington
1-bedroom apartments here are priced 25% lower than 1-bedrooms in Lexington.
If you decide to upgrade your space, you can expect 2-bedrooms at Preakness Apartments to be 27% less than the average for similarly sized apartments in Lexington.
3-bedroom apartments at Preakness Apartments cost about 36% less than the average rent price for 3-bedroom apartments in Lexington.
Median rents as of Aug 29 2026.
Lexington
| Month | Median Rent |
|---|---|
| September 2024 | $900 |
| October 2024 | $923 |
| November 2024 | $915 |
| December 2024 | $934 |
| January 2025 | $925 |
| February 2025 | $904 |
| March 2025 | $865 |
| April 2025 | $774 |
| May 2025 | $788 |
| June 2025 | $880 |
| July 2025 | $979 |
| August 2025 | $1,056 |
| September 2025 | $1,025 |
| October 2025 | $875 |
| November 2025 | $887 |
| December 2025 | $947 |
| January 2026 | $879 |
| February 2026 | $921 |
| March 2026 | $885 |
| April 2026 | $1,002 |
| May 2026 | $977 |
| June 2026 | $983 |
| July 2026 | $1,001 |
| August 2026 | $1,126 |
Affordability calculator
Can I afford to live at 733 Hill Rise Ct?
Bedrooms
Rent-to-income ratio
30%
Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income
$30,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $30,000 annually to afford this 1-bedroom monthly rent price of $750.
For more information on rent affordability, visit our rent calculator.
Schools near Preakness Apartments
James Lane Allen Elementary School
1901 appomattox rd
lexington, KY, 40504
PK, K-5Public
B-
Fayette Pre-School
465 springhill dr
lexington, KY, 40503
PKPublic
Fayette County Preschool
165 springhill dr
lexington, KY, 40503
PKPublic
Community Action Council The Prep Academy BCTC Child Development Center
164 opportunity way
lexington, KY, 40511
PKPublic
Booker T. Washington Elementary School
707 howard st
lexington, KY, 40508
PK, K-5Public
C+
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Internet available near Preakness Apartments
Neighborhood
Getting around Lexington near 733 Hill Rise Ct
Walking
6/10
Some shops and stores are within a few minutes.
Driving
8/10
Commuting is easy with multiple accessible routes and plenty of parking.
Cycling
4/10
This is semi-bikeable, but you’ll need another way of getting around.
Transit
3/10
There are a few mass transit options within the area.
Points of interest for 733 Hill Rise Ct, Lexington
Groceries
7/10
Wide variety of groceries within a short drive, including some within walking distance
Shopping
5/10
Variety of shops within a short drive
Cafes
6/10
Variety of cafés within a short drive
Restaurants
7/10
Wide variety of restaurants within a short drive, including some within walking distance
Primary schools
3/10
At least one elementary school within a 30-minute walk
High schools
5/10
At least one high school within a 20-minute walk
Parks
6/10
Moderate amount of park space nearby
Nightlife
7/10
Wide variety of bars within a short drive, including some within walking distance
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