Cheap Apartments for Rent in Richmond, VA from $400 (416 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
Lifestyle Matching SearchDone
Learn more about Lifestyle Search
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

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

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.

Read Article

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.

Read Article

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.

Read Article

Richmond’s Best Affordable Neighborhoods

Learn about Richmond and the best affordable places to live by our Local Expert Richard Corrigan

Read Article

Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

Read Article
Showing Results 1-50, Page 1 of 9

Richmond, VA Local Guide

Photo of Justin Habersaat - Editing Staff
Written By:
Justin Habersaat
Editing Staff

Cheapest Neighborhoods for Apartments in Richmond, VA

Pricing Updated: 07/30/2025

Current apartment rentals in the Richmond, VA area range in price from $599 to $11,350 with an overall median price of $2,653. The three Richmond neighborhoods with the lowest median rent pricing are Church Hill North at $1,000, Petersburg Chesterfield at $799, and Jackson Ward at $750. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Richmond Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Church Hill North$1,550$1,0004
Petersburg Chesterfield$1,626$79999
Jackson Ward$1,647$75072
Southwood$1,652$715109
Forest Hill$1,704$750267
Ginter Park$1,707$84922
McGuire Manor$1,730$715103
Woodhaven$1,730$715155
Chestnut Hill$1,732$59928
Hickory Hill$1,820$71599

Cheapest Available Richmond Apartments for Rent

 

The cheapest available apartment rental in Richmond, VA is a 1 Bed unit found at Market Square in the Four Mile Run neighborhood priced from $671. New Manchester Flats in the East neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $702. Here is today’s list of the most affordable Richmond apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Market SquareMarket Woods One Bedroom1BR,1BA$671
New Manchester FlatsThe Decatur1BR,1BA$702
Kingly Ones and Briarwood Court Apartments1 Bedroom1BR,1BA$825
Imperial Living Propco LLCStudioStudio,1BA$835
Falling Creek ApartmentsA11BR,1BA$885
Bloom Apartments II1Bed/1Bath: 456 sq ft1BR,1BA$899
Cedarwood Manor1BR/1BA1BR,1BA$922
Southwood Apartments1 Bed, 1 bath1BR,1BA$955
Winchester ForestOne Bed1BR,1BA$965
Ashton Square ApartmentsAshley1BR,1BA$975

Best Value Apartments for Rent in Richmond, VA

As of July 30, 2025 the best value apartment in the Richmond area is the $0.51 price per square foot 4x2 - Priced Per Bedroom Model at Marshall Park in the in the Downtown Richmond neighborhood starting from $750. The second greatest value Richmond apartment is the 1300 Grove Ave Model at 1300 Grove Ave, Unit 3 starting at $1,525 with a $1.17 price per square foot in the Near West neighborhood. 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.
Marshall Park4x2 - Priced Per Bedroom4BR,2BA$0.51
1300 Grove Ave, Unit 31300 Grove Ave2BR,1BA$1.17
Cabin Creek Apartments2 Bedroom, 1.5 Bath2BR,1.5BA$1.24
Townsend SquareTownhomes starting at $1050.00- Now Accepting A...2BR,1BA$0.91
The Greens at Virginia Center2 Bedroom Garden2BR,2BA$1.28
Venus At Manchester Apartments2 -Bedroom, 2-Bath2BR,2BA$1.20
Hatcher Tobacco Flats3X23BR,2BA$1.23
The BerkshireMonroe1BR,1BA$1.26
Alexander at 1090Humboldt2BR,2BA$1.25
Belle SummitRainer2BR,2BA$1.21

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.

decorative image of people with a giant lease agreement

Richmond Overview

The state capitol of Virginia, Richmond is a city boasting a long and proud history dating all the way back to the 1700's. From its bluecollar roots to the city's welcoming combination of cultural heritage and big city excitement, Richmond is one municipality well worth exploring and Richmond apartments make the perfect place to call home..

Why live in Richmond, VA?

With a keen sense of history and the local landmarks to back it up, Richmond is a fine place to call home for many reasons. The universities are highly lauded, the economy is showing steady local growth in both the housing market as well as the local industry, and the stately, architectural beauty is an even match for the area's natural splendor.

Pet Friendly Lifestyle
Richmond, VA

Ranked #6

Among cities in Virginia for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

decorative image of woman handing cat to small boy

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

Explore Richmond, VA Rentals by Map

Decorative image of map

See the most popular apartments and homes in Richmond, VA

View Map
Richmond, VA Apartments Map
View Map
Richmond, VA Rental Homes Map

Getting Around Richmond, VA

Walk Score®

59 / 100

Somewhat Walkable

Some errands can be accomplished on foot

Bike Score®

53 / 100

Bikeable

Some bike infrastructure

Transit Score®

26 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Richmond, VA Area Reviews

  • Cost of Living

Robin

February 25, 2025

All my life

Frequently Asked Questions about Cheap Richmond Apartments

What is a cheap apartment in Richmond?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Richmond is under $975.

What is the price of a cheap apartment in Richmond?

The cheapest apartment in Richmond is Market Square which is listed at $671, while the average apartment in Richmond costs $2,653.

What types of apartments are the cheapest in Richmond?

Student, low-income, and by-the-bed apartments are typically the cheapest rentals in most cities, though they require qualifying criteria to rent. There are 12,933 regular apartments in Richmond that we think qualify as ‘cheap apartments’ that do not have special requirements to apply to rent.

How do the prices of cheap apartments compare to the average apartment in Richmond?

Cheap apartments in Richmond have an average cost of $506 which is $2,147 cheaper than the average rent for all rentals in Richmond.

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.

decorative image for A Local Experts Guide To the Top Budget-Friendly Neighborhoods to Rent in Richmond, VA article

A Local Experts Guide To the Top Budget-Friendly Neighborhoods to Rent in Richmond, VA

Written by: Richard Corrigan

Richmond is rightly considered one of the best places to live on the East Coast. We love Richmond’s rich history, phenomenal culinary scene, unique art and culture, and its next-level parks and green spaces.

decorative image for Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting article

Cash or credit? Understanding the Importance of Credit Score in Real Estate and Renting

Written by: Christine Leonard, Esq.

Throughout the day, think about all the times that you have to pay for something. So many of us reach automatically for a credit card or even our phone for a quick payment.

decorative image for Roommate Matching: Finding the Right Fit and Avoiding Pitfalls article

Roommate Matching: Finding the Right Fit and Avoiding Pitfalls

Written by: Cheryl Bowman

A fantastic way to save money and enjoy a built-in community is to share an apartment. However, a bad roommate situation can turn your dream rental into a nightmare.

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

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.