Cheap Homes for Rent in Prospect, VA from $500 (12 Rentals)

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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.

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.

Prospect, VA Local Guide

Cheapest Available Prospect Apartments for Rent and Nearby

 

The cheapest available apartment rental in Prospect, VA is a 1 Bed unit found at The Timbers priced from $659. Elora Gardens Lynchburg in the Tate Springs neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $696. Here is today’s list of the most affordable Prospect apartments for rent:

Apartment ListingModel NameBed/BathPriced From
The Timbers1 Bedroom, 1 Bathroom1BR,1BA$659
Elora Gardens Lynchburg1 Bedroom Medium1BR,1BA$696
The Doyne3 Bed/2 Bath3BR,2BA$700
Bramblewood Apartments1BR/1.0BA1BR,1BA$750
Miller's Rest ApartmentsPritchell2BR,2BA$803

Best Value Apartments for Rent in Prospect, VA and Nearby

As of June 09, 2025 the best value apartment in the Prospect area is the $0.47 price per square foot 3 Bed/2 Bath Model at The Doyne in the starting from $700. The second greatest value Prospect apartment is the 3 Bedrooms 2 Bath Model at Logans Landing starting at $1,682 with a $1.16 price per square foot in the Sandusky neighborhood. Here is today’s list of the best values for Prospect apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
The Doyne3 Bed/2 Bath3BR,2BA$0.47
Logans Landing3 Bedrooms 2 Bath3BR,2BA$1.16
Forestbrook Apartments3 Bed/ 2 Bath with Den3BR,2BA$0.92
Park Place Apartments3BR/2BA Renovated3BR,2BA$1.16
Del Ray Townhomes2 BR/1 BA RENO2BR,1BA$1.19
Miller's Rest ApartmentsPritchell2BR,2BA$0.85
Bramblewood Apartments3BR/1.0BA3BR,1BA$1.11
County Green Apartment Homes1 Bed, 1 bath1BR,1BA$1.15
Midtown Lofts1 Bed 1 Bath1BR,1BA$1.19
Princeton Circle West ApartmentsContemporary1BR,1BA$1.19

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Frequently Asked Questions about Prospect

What type of rentals are currently available in Prospect?

There are currently 52 Apartments for Rent in Prospect, VA with pricing that ranges from $675 to $4,441. There are also 33 Single Family Homes for rent, Condos, and Townhome rentals currently available in Prospect ranging from $525 to $3,495.

What is the current price range for Rental Homes in Prospect?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Prospect ranges from $525 to $3,495 with an average monthly rent of $1,203.

Expert Rental Resources

Helpful Apartment Articles, How-To's and Tips

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.

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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.

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The Freedom of Short-Term Leases: Exploring the Advantages for Renters

Written by: Bobbi Jackson

If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

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Navigating the Rental Market: Tips for First-Time Renters

Written by: Sandy Baker

Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.