Cheap Apartments for Rent in Richmond, KY from $600 (46 Rentals)

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Search the lowest-cost Apartments available for rent right now in Richmond.

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.

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property at 303 McDougal Ave

$1,100

Total Monthly Price

Total Monthly Price

Base Rent
$1,100
Total Monthly Price
$1,100

3 Bedroom, 1.5 Bath Home for Rent

Available Now

303 McDougal Ave

RichmondKY40475

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.

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Pebblecreek Crossing
1 to 2 Bedroom Apartments

Pebblecreek Crossing

418 Big Hill AveRichmond, KY 40475
Senior Living
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Park Place
1 to 2 Bedroom Apartments

Park Place

535 Mahaffey DrRichmond, KY 40475
  • Utilities Included
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Blue Country Apartments
Studio to 3 Bedroom Apartments

Blue Country Apartments

511-519 Ballard DrRichmond, KY 40475
  • Utilities Included

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.

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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.

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2005 Willow Dr
2 to 3 Bedroom Apartments

2005 Willow Dr

2005 Willow DrRichmond, KY 40475
property at 115 Salter Rd

$1,500

Total Monthly Price

Total Monthly Price

Base Rent
$1,500
Total Monthly Price
$1,500

3 Bedroom, 1 Bath Home for Rent

Available May 1

115 Salter Rd

BereaKY40403

Smart Renter's Guide: Calculating Affordable Rent & Housing Costs

Wondering how to determine your rental budget? This comprehensive guide covers everything from the 30% rule to hidden fees and effective budgeting strategies.

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Showing Results 1-46, Page 1 of 1

Richmond, KY Local Guide

Cheapest Available Richmond Apartments for Rent

 

The cheapest available apartment rental in Richmond, KY is a 1 Bed unit found at East Ridge Apartments priced from $725. Shawnee Trail Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $741. Here is today’s list of the most affordable Richmond apartments for rent:

Apartment ListingModel NameBed/BathPriced From
East Ridge ApartmentsOne Bedroom1BR,1BA$725
Shawnee Trail ApartmentsOne Bedroom1BR,1BA$741
Reserves of MadisonThe Heritage1BR,1BA$825
Richmond Green Apartments1 Bedroom (650sqft)1BR,1BA$840
Park Place2 Bedroom, 1 Bath2BR,1BA$845
1040 Brandy LnTwo Bed2BR,1BA$900
The Villages at Lake Reba1BD/ 1 BA1BR,1BA$1,045
The Resort Apartments1BD/ 1 BA1BR,1BA$1,045
Legacy Lake ApartmentsOne Bedroom One Bath1BR,1BA$1,160
2005 Willow Dr3BR/2.5BA3BR,2BA$1,425

Best Value Apartments for Rent in Richmond, KY

As of April 30, 2026 the best value apartment in the Richmond area is the $0.94 price per square foot 561 Hampton Way Model at 561 Hampton Way, Unit 1 in the starting from $1,500. The second greatest value Richmond apartment is the Three Bedroom 2 Bath Cottage Home Model at Legacy Lake Apartments starting at $2,100 with a $1.40 price per square foot . Here is today’s list of the best values for Richmond apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
561 Hampton Way, Unit 1561 Hampton Way3BR,2.5BA$0.94
Legacy Lake ApartmentsThree Bedroom 2 Bath Cottage Home3BR,2BA$1.40
Carriage Place Apartments2 Bedroom2BR,2BA$1.12
2005 Willow Dr3BR/2.5BA3BR,2.5BA$1.19
The Villages at Lake Reba2 BDR / 2BA2BR,2BA$1.32
East Ridge ApartmentsOne Bedroom1BR,1BA$0.81
Reserves of MadisonThe Heritage1BR,1BA$1.10
1040 Brandy LnTwo Bed2BR,1BA$1.25
Park Place2 Bedroom, 1 Bath2BR,1BA$1.22
Richmond Green Apartments1 Bedroom (650sqft)1BR,1BA$1.29

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.

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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.

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The 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.

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Cash 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.

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Quick 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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Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Richmond, KY Rentals by Map

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See the most popular apartments and homes in Richmond, KY

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Frequently Asked Questions about Cheap Richmond Apartments

How much is rent for a Cheap One Bedroom Richmond Apartment?

The lowest price for a Cheap One Bedroom Richmond Apartment is $725 at East Ridge Apartments.

What is the lowest price for a Cheap Two Bedroom Richmond Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Richmond is starting from $845 at Park Place.

What is the most affordable Richmond Three Bedroom Apartment?

The best deal on a cheap Richmond Three Bedroom Apartment rental is at 1040 Brandy Ln and starts from $1,000.

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

decorative image for Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts article

Expert Solutions for Creating the Perfect Work-From-Home Apartment Layouts

Written by: Lauren Harrington

This article is based on first-hand experience managing apartment communities and helping renters adapt to their spaces after moving in.

decorative image for What Does “Rent Burdened” Mean? How Much Rent Is Too Much article

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.

decorative image for Maximizing Your Refund: Essential Tax Tips for Renters article

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.

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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.