Cheap Apartments for Rent in Richmond, VA from $400 (462 Rentals)

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

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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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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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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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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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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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: 11/10/2025

Current apartment rentals in the Richmond, VA area range in price from $750 to $6,500 with an overall median price of $2,600. The three Richmond neighborhoods with the lowest median rent pricing are Jeff Davis at $1,450, Ginter Park at $1,350, and Commerce Road Industrial Area at $1,395. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Richmond Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Jeff Davis$1,450$1,4501
Ginter Park$1,499$1,3503
Commerce Road Industrial Area$1,500$1,3953
Davee Gardens$1,500$1,3953
Cullenwood$1,697$82524
Hickory Hill$1,725$80033
Monument Avenue Park$1,745$1,7451
Hillside Court$1,772$75036
Petersburg Chesterfield$1,797$1,3757
Brookbury$1,850$1,8501

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. Liberty Circle Apartments in the Near West neighborhood has the second lowest priced unit, which is a 4 Beds apartment currently listed from $820. 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
Liberty Circle ApartmentsTHE HIGHLAND FLOOR PLAN - BEDROOM II4BR,2BA$820
Kingly Ones and Briarwood Court Apartments1 Bedroom1BR,1BA$825
Falling Creek ApartmentsA11BR,1BA$894
Bloom Apartments II1Bed/1Bath: 456 sq ft1BR,1BA$899
Cedarwood Manor1BR/1BA1BR,1BA$922
Hatcher Tobacco Flats1X11BR,1BA$933
Imperial Living Propco LLCStudioStudio,1BA$935

Best Value Apartments for Rent in Richmond, VA

As of November 11, 2025 the best value apartment in the Richmond area is the $1.25 price per square foot Canal 236 2 Beds Model at Lofts and Upper Lofts at Canal Walk in the in the Downtown Richmond neighborhood starting from $1,620. The second greatest value Richmond apartment is the 2X1.5 Model at The Arbors at Hull Street Senior Apartments starting at $1,475 with a $1.25 price per square foot in the Midlothian 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.
Lofts and Upper Lofts at Canal WalkCanal 236 2 BedsStudio ,1BA$1.25
The Arbors at Hull Street Senior Apartments2X1.52BR,1.5BA$1.25
Cabin Creek Apartments2 Bedroom, 1.5 Bath2BR,1.5BA$1.24
Townsend SquareTownhomes starting at $1050.00- Now Accepting A...2BR,1BA$0.91
Townhouses of Chesterfield IIWood II2BR,1.5BA$1.00
Marshall Street Apartments1BR/1.0BA1BR,1BA$1.25
Honey BrookCastle2BR,2BA$1.19
City View Place2 Bedroom Unit2BR,1.5BA$1.18
Belle SummitRainer2BR,2BA$1.21
1527 Mechanicsville Tpke, Unit 11527 Mechanicsville Tpke1BR,1BA$1.17

Apartment Common Area Rules: What Renters Need to Know

From the lounge to the laundry room, understand your rights and responsibilities in shared apartment spaces. Get tips on pet rules, noise, and security.

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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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The Ultimate Renter's Guide for Finding the Perfect Student Friendly Richmond Neighborhood to Rent

Learn about the best neighborhoods for student renters near Richmond Colleges and Universities by our Local Expert Richard Corrigan

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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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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

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

Explore Richmond, VA Rentals by Map

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See the most popular apartments and homes in Richmond, VA

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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 the Cheapest Studio apartment in Richmond?

Currently the most affordable Cheap Studio Apartment in Richmond is at The Masonry Apartments listed at $925.

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

The lowest price for a Cheap One Bedroom Richmond Apartment is $671 at Market Square.

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 $781 at Market Square.

What is the most affordable Richmond Three Bedroom Apartment?

The best deal on a cheap Richmond Three Bedroom Apartment rental is at City View Place and starts from $1,244.

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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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.

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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate! 

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The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.