Cheap Apartments for Rent in Richmond, VA from $400 (446 Rentals)

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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.

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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’s Best Affordable Neighborhoods

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

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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.

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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: 06/27/2025

Current apartment rentals in the Richmond, VA area range in price from $599 to $12,658 with an overall median price of $2,555. The three Richmond neighborhoods with the lowest median rent pricing are Petersburg Chesterfield at $799, McGuire Manor at $629, and Southwood at $629. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Richmond Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Petersburg Chesterfield$1,530$79995
McGuire Manor$1,555$62981
Southwood$1,565$629104
Jackson Ward$1,620$75065
Woodhaven$1,627$629156
Chestnut Hill$1,695$59919
Ginter Park$1,788$84929
Forest Hill$1,795$629281
Petersburg Colonial Heights$1,836$88049
Cypress Woods$1,840$1,35028

Cheapest Available Richmond Apartments for Rent

 

The cheapest available apartment rental in Richmond, VA is a 1 Bed unit found at Ashton Square Apartments in the Midlothian neighborhood priced from $629. Kingly Ones and Briarwood Court Apartments in the Broad Rock neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $825. Here is today’s list of the most affordable Richmond apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Ashton Square ApartmentsAshley1BR,1BA$629
Kingly Ones and Briarwood Court Apartments1 Bedroom1BR,1BA$825
Legacy at Imperial VillageStudioStudio,1BA$835
New Manchester FlatsThe Bainbridge2BR,1BA$837
Bloom Apartments II1Bed/1Bath: 463 sq ft1BR,1BA$849
Falling Creek ApartmentsA11BR,1BA$885
The Arbors Senior ApartmentsMove-in Special Now offering Reduced Rent - ...1BR,1BA$899
Cedarwood Manor1BR/1BA1BR,1BA$922
2001 EastA31BR,1BA$925
Highland Terrace Apartments1-Bedroom1BR,1BA$934

Best Value Apartments for Rent in Richmond, VA

As of June 28, 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 Townhomes starting at $1050.00- Now Accepting A... Model at Townsend Square starting at $1,050 with a $0.91 price per square foot in the East 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
Townsend SquareTownhomes starting at $1050.00- Now Accepting A...2BR,1BA$0.91
The Greens at Virginia Center2 Bedroom Garden2BR,2BA$1.28
Hatcher Tobacco Flats3X23BR,2BA$1.23
3002 Semmes Ave, Unit Downstairs3002 Semmes Ave2BR,1BA$1.02
City View Place2 Bedroom Unit2BR,1.5BA$1.18
Alexander at 1090Humboldt2BR,2BA$1.25
4306 Chamberlayne Ave1 Beds, 1 Baths1BR,1BA$1.29
Belle SummitRainer2BR,2BA$1.21
Creekside Manor Apartments2 Beds, 1.5 baths2BR,1.5BA$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.

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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 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 $934.

What is the price of a cheap apartment in Richmond?

The cheapest apartment in Richmond is Ashton Square Apartments which is listed at $629, while the average apartment in Richmond costs $2,555.

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 11,811 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 $410 which is $2,145 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.

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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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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.

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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.