381 Main St
Madison HeightsVA24572
Cheap Homes for Rent in Prospect, VA from $400 (8 Rentals)
Search the lowest-cost Homes available for rent right now in Prospect.
117 Williams Rd
Madison HeightsVA24572
113 Williams Rd
Madison HeightsVA24572
115 Williams Rd
Madison HeightsVA24572
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.
209 Clark St
Madison HeightsVA24572
912 Floyd St
LynchburgVA24501
1112 Bedford Ave
LynchburgVA24504
3040 Campbell Ave
LynchburgVA24501
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.
Showing Results 1-8, Page 1 of 1
Prospect, VA Local Guide
Virginia Skies by ncindc is licensed under CC BY 2.0
How much does it cost to rent a home in Prospect?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Prospect 2 Bedroom Homes for Rent | $1,255 | $795 | $2,200 |
| Prospect 3 Bedroom Homes for Rent | $1,476 | $600 | $2,500 |
| Prospect 4 Bedroom Homes for Rent | $1,661 | $470 | $2,380 |
| Prospect 5 Bedroom Homes for Rent | $1,924 | $535 | $3,000 |
Note: Properties with the Total Monthly Price badge include all required fees. Hover over the badge for details.
Browse Top Homes for Rent in Prospect
Explore Prospect
Prospect, VA Local Guide
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Cheapest Available Prospect Apartments for Rent and Nearby
The cheapest available apartment rental in Prospect, VA is a 2 Beds unit found at Jobbers Overall in the Montview neighborhood priced from $651. Miller's Rest Apartments in the Wyndhurst neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $679. Here is today’s list of the most affordable Prospect apartments for rent:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Jobbers Overall | 2 Bed | 2BR,2BA | $651 |
| Miller's Rest Apartments | Rhine | 1BR,1BA | $679 |
| Elora Gardens Lynchburg | 1 Bedroom | 1BR,1BA | $696 |
Best Value Apartments for Rent in Prospect, VA and Nearby
As of April 13, 2026 the best value apartment in the Prospect area is the $0.81 price per square foot 2BR/2.0BA Model at River Lofts West in the in the College Hill neighborhood starting from $1,445. The second greatest value Prospect apartment is the 128 Brenleigh 3bed Model at 128 Brenleigh Ct starting at $1,695 with a $1.15 price per square foot in the Montview neighborhood. Here is today’s list of the best values for Prospect apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| River Lofts West | 2BR/2.0BA | 2BR,2BA | $0.81 |
| 128 Brenleigh Ct | 128 Brenleigh 3bed | 3BR,2BA | $1.15 |
| The Reserve - All Inclusive Student Community | 3 Bedroom - All Inclusive | 3BR,3.5BA | $0.54 |
| Piedmont Flour Mill Lofts | One Bedroom | 1BR,1BA | $0.92 |
| Forestbrook Apartments | 3 Bed/ 2 Bath with Den | 3BR,2BA | $1.02 |
| Grand Vistas | Dogwood | 1BR,1BA | $1.08 |
| Miller's Rest Apartments | Pritchell | 2BR,2BA | $0.85 |
| 317 Grove Street | 2 Bedroom 1 Bath - 48748 | 2BR,1BA | $1.07 |
| Bramblewood Apartments | 3BR/1.0BA | 3BR,1BA | $1.11 |
| Jobbers Overall | 2 Bed | 2BR,2BA | $0.72 |
10 Hidden Costs of Renting You Should Budget for Before Signing a Lease
Avoid financial stress when renting. Learn about the 10 most common hidden costs—from pet fees to utilities—you must budget for before you sign a lease.
Read Article
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
How much rent can you afford?
The common "Rule of Thumb" is that rent should be no more than 30% of your income. How much is that? Enter your monthly income and click "Calculate My Budget" to find out.
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Explore Prospect, VA Rentals by Map
See the most popular apartments and homes in Prospect, VA
Frequently Asked Questions about Prospect
What type of rentals are currently available in Prospect?
There are currently 61 Apartments for Rent in Prospect, VA with pricing that ranges from $651 to $4,053. There are also 37 Single Family Homes for rent, Condos, and Townhome rentals currently available in Prospect ranging from $470 to $3,000.
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 $470 to $3,000 with an average monthly rent of $1,406.
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
What Does “Rent Burdened” Mean? How Much Rent Is Too Much
Written by: Lauren Harrington
This article draws from first-hand renter experiences and recurring financial challenges reported after moving in.
Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.
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.