After talking to a neighbor last night, I found out that she pays a
much lower rent ($50+) than I do for the same exact apartment layout.
She moved in approximately two weeks after I did, and received the
same perks as me (student discount & first month free). I spoke with
my landlord today and was informed that there was nothing that could
be done since I signed a year lease at the then-current rate. I am in
Lexington, Kentucky.

Is there anything that I can do to get that cheaper rate or am I stuck?

Thanks for your time!

The lease is binding and the only way to get lower rent is through the
goodwill of your landlord.  Unless he somehow tricked you, you have no
beef here.  Perhaps you neighbor was savvier or the landlord's
desperation level changed.

Freedom of choice is the beauty of supply and demand created through Capitalism.

I am also from Lexington, and have seen this happen in my own
experience.  Fortunately for me, I was on the other side (getting the
cheaper rate!).  Out of curiousity, which complex are you referring
to?  (I was in Colt's Run when it happened to me).

Your neighbor is female. If you are male, most landlords prefer female
as they are less likely to trash the apartment, less likely to
distrurb the other tenents, less likely to brake the law, more likely
to stay long term, and more likely to pay on time. The $50+ penelty
may not be enough in your landlord's opinion. If you had excellent
references, you might have gotten a better deal.  Neil