
Cheap Apartments for Rent in Phenix, VA from $500 (21 Rentals)
Search the lowest-cost Apartments available for rent right now in Phenix.


Cardinal's Crest Apartments

Wesley Apartments - Senior Living Community

Timber East Apartments

Imperial Tobacco Lofts

Beechwood

Church Street Townhomes
Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between
Thinking about getting a co-signer for your rental application? We break down what a co-signer is, the potential benefits, and the serious risks for both parties. Find out if it's the right choice for you.

1 Element

Ivy Ridge

Factory 88

Holland House

Miller's Rest Apartments

1078 Arrington Trail

2341 Price St
Roommate Matching: Finding the Right Fit and Avoiding Pitfalls
When searching for a roommate, follow this list of essential steps and set clear expectations to create a solid foundation for a harmonious living situation.

534 Logan St

River Lofts West

409-411 Novelty St

Lakeside Plaza Apartments

Midtown Lofts

Midtown on 12th

Midpoint Apartments
The Art of the Rental Viewing: What to look for during a property tour
Touring a rental? This guide helps you know exactly what to look for, from safety features to hidden flaws, so you can confidently sign your lease or keep searching.
Phenix, VA Local Guide

How much does it cost to rent an apartment in Phenix?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Phenix Studio Apartments | $920 | $790 | $1,095 |
| Phenix 1 Bedroom Apartments | $1,132 | $696 | $2,601 |
| Phenix 2 Bedroom Apartments | $1,372 | $830 | $3,683 |
| Phenix 3 Bedroom Apartments | $1,722 | $1,050 | $3,813 |
| Phenix 4 Bedroom Apartments | $1,590 | $1,590 | $1,590 |
Browse Top Apartments in Phenix
See all Apartments in PhenixExplore Phenix
Phenix, VA Local Guide
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Cheapest Available Phenix Apartments for Rent and Nearby
 The cheapest available apartment rental in Phenix, VA is a 1 Bed unit found at Elora Gardens Lynchburg in the Tate Springs neighborhood priced from $696. Imperial Tobacco Lofts in the College Hill neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $800. Here is today’s list of the most affordable Phenix apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Elora Gardens Lynchburg | 1 Bedroom | 1BR,1BA | $696 |
| Imperial Tobacco Lofts | 1BR/1.0BA | 1BR,1BA | $800 |
| Beechwood | 1 Bed/ 1 Bath | 1BR,1BA | $820 |
| Ivy Ridge | 2 BR | 2BR,1BA | $895 |
| Church Street Townhomes | 1 Bedroom, 1 Bathroom | 1BR,1BA | $895 |
Best Value Apartments for Rent in Phenix, VA and Nearby
As of January 26, 2026 the best value apartment in the Phenix area is the $1.05 price per square foot 3BR 2.5BA Model at 100 Independence Ln in the in the Wyndhurst neighborhood starting from $1,895. The second greatest value Phenix apartment is the CSQ II Model at The Vue at College Square (Student Housing) starting at $750 with a $0.44 price per square foot in the Montview neighborhood. Here is today’s list of the best values for Phenix apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| 100 Independence Ln | 3BR 2.5BA | 3BR,2.5BA | $1.05 |
| The Vue at College Square (Student Housing) | CSQ II | 3BR,3.5BA | $0.44 |
| The Reserve -All Utilities Included&Furnished | 3 Bedroom - All Inclusive | 3BR,3.5BA | $0.58 |
| Grand Vistas | Cardinal | 3BR,2BA | $1.08 |
| Kendall Square | 3 Bed/ 2 Bath | 3BR,2BA | $1.01 |
| WillowBrook Luxury Apartments | Phase 2-Call for availability before applying | 4BR,2BA | $1.14 |
| The Flats at Cornerstone (Student Housing) | The Flats | 3BR,3BA | $0.58 |
| Park Place Apartments | 3BR/2BA + Den Renovated | 3BR,2BA | $1.21 |
| City Place at Wyndhurst | 2 BR | 2BR,2BA | $1.22 |
| Imperial Tobacco Lofts | 1BR/1.0BA | 1BR,1BA | $1.20 |
Don't Settle: How to Negotiate Your Apartment Lease and Save Money
Discover the insider tips from an attorney and real estate agent on how to negotiate your next apartment lease. Find out what's on the table and what's not, so you can save money and get the best terms possible.
Read ArticleThe Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro
Moving is tough, especially long-distance. Learn how to minimize stress & expenses with proven strategies from a real estate pro, covering everything from logistics to finances.
Read ArticleCash or credit? Understanding the Importance of Credit Score in Real Estate and Renting
Discover how your credit score impacts your ability to lease or buy a home. Learn how credit scores are determined, how to check yours, and strategies to improve it for real estate success.
Read ArticleQuick Rent Budget Calculator
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Remember the 3 Rules of Real Estate:Location, Location, Location!
Explore Phenix, VA Rentals by Map
See the most popular apartments and homes in Phenix, VA
Frequently Asked Questions about Cheap Phenix Apartments
How much is rent for a Cheap One Bedroom Phenix Apartment?
The lowest price for a Cheap One Bedroom Phenix Apartment is $696 at Elora Gardens Lynchburg.
What is the lowest price for a Cheap Two Bedroom Phenix Apartment for rent?
Today's best deal for a Cheap Two Bedroom Apartment in Phenix is starting from $830 at Elora Gardens Lynchburg.
What is the most affordable Phenix Three Bedroom Apartment?
The best deal on a cheap Phenix Three Bedroom Apartment rental is at Park Place Apartments and starts from $1,050.
Expert Rental Resources
The rental experts at ApartmentHomeLiving.com provide you with top advice, tools, and tips for understanding the leasing process and finding the perfect rental. Here are a few helpful rental and leasing articles from our experts to guide you on your search.
Articles, How-To's, and Tips

18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property
Written by: Lauren Harrington
Renting your next home can feel thrilling and overwhelming at the same time.

A Renters Guide for Tips on Writing Your Notice for Not Renewing Your Apartment
Written by: Bob Mallory
Packing up everything you own to move is so stressful for many that ending your apartment lease can feel like a small or unimportant task. Ending your lease involves more than simply turning over your keys on the last day.

Renting with Roommates: Realistic Expectations for Shared Lease
Written by: Christine Leonard, Esq.
Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.

Apartment Common Area Rules: What Renters Need to Know
Written by: Christine Leonard, Esq.
Back in the day when I rented one of my first apartments, the property didn’t even have laundry in the building. Now, rental properties are often competing against each other to provide the best amenities.