Cheap New Apartments for Rent in Richmond, VA from $500 (107 Rentals)

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

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1619 N 28th St
$1,000 - $2,400
Total Monthly Price

Total Monthly Price

Base Rent
$1,000 - $2,400
Total Monthly Price
$1,000 - $2,400
Built in 20241 Bedroom Apartments Available Now

1619 N 28th St

1619 N 28th StRichmond, VA 23223
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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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Hydro
$1,215 - $3,155
Total Monthly Price

Total Monthly Price

Base Rent
$1,215 - $3,155
Total Monthly Price
$1,215 - $3,155
Built in 2022Studio to 2 Bedroom Apartments Available Now

Hydro

101 Manchester RdRichmond, VA 23224
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Shiplock Views
Rent Specials
$1,270 - $2,245
Total Monthly Price

Total Monthly Price

Base Rent
$1,179 - $2,154
Required Monthly Fees
$91
Total Monthly Price
$1,270 - $2,245
Built in 20211 to 2 Bedroom Apartments Available Now

Shiplock Views

2801 E Main StRichmond, VA 23223
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The Navigator
$1,275 - $2,495
Total Monthly Price

Total Monthly Price

Base Rent
$1,204 - $2,424
Required Monthly Fees
$71
Total Monthly Price
$1,275 - $2,495
Built in 2024Studio to 2 Bedroom Apartments Available Now

The Navigator

103 E 2nd StRichmond, VA 23224
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South Falls Tower
Rent Specials
$1,284 - $4,280
Total Monthly Price

Total Monthly Price

Base Rent
$1,284 - $4,280
Total Monthly Price
$1,284 - $4,280
Built in 2021Studio to 2 Bedroom Apartments Available Now

South Falls Tower

111 Hull StRichmond, VA 23224
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Explore The River City Like a Local: The Insider's Guide to Renting in Richmond, VA

Thinking of moving to Richmond, VA? Learn why "The River City" is a perfect blend of big-city amenities and small-town charm, offering a low cost of living, minimal traffic, and a rich cultural scene.

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East 51 At Rocketts Landing
Rent Specials
$1,299 - $3,922
Total Monthly Price

Total Monthly Price

Base Rent
$1,299 - $3,922
Total Monthly Price
$1,299 - $3,922
Built in 2018Studio to 3 Bedroom Apartments Available Now

East 51 At Rocketts Landing

5101 Old Main StRichmond, VA 23231
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The Waterford At Rocketts Landing
Rent Specials
$1,340 - $3,474
Total Monthly Price

Total Monthly Price

Base Rent
$1,340 - $3,474
Total Monthly Price
$1,340 - $3,474
Built in 20231 to 2 Bedroom Apartments Available Now

The Waterford At Rocketts Landing

4501 E Main StRichmond, VA 23231
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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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The Bakery
$1,350 - $2,500
Total Monthly Price

Total Monthly Price

Base Rent
$1,350 - $2,500
Total Monthly Price
$1,350 - $2,500
Built in 20251 to 2 Bedroom Apartments Available Now

The Bakery

127 N 17th StRichmond, VA 23219
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River’s Edge at Manchester
$1,366 - $2,701
Total Monthly Price

Total Monthly Price

Base Rent
$1,341 - $2,676
Required Monthly Fees
$25
Total Monthly Price
$1,366 - $2,701
Built in 20181 to 3 Bedroom Apartments Available Now

River’s Edge at Manchester

505 Porter StRichmond, VA 23224
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Overview
Rent Specials
$1,368 - $1,903
Total Monthly Price

Total Monthly Price

Base Rent
$1,368 - $1,903
Total Monthly Price
$1,368 - $1,903
Built in 20171 to 2 Bedroom Apartments Available Now

Overview

1817 E Main StRichmond, VA 23223
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The 1805
Rent Specials
$1,387 - $2,205Built in 2021Studio to 2 Bedroom Apartments Available May 2

The 1805

1805 Monument AveRichmond, VA 23220
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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

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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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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February 25, 2025

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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 $922.

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 $2,401.

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 15,962 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 $453 which is $1,948 cheaper than the average rent for all rentals in Richmond.

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.

Helpful Local Expert Guides

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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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Your Guide to Picking the Perfect Richmond Neighborhood for Student Renters

Written by: Richard Corrigan

Richmond isn't always thought of as a college town, but there are actually several major colleges and universities here. One thing Richmond does get credit for—and rightfully so—is being a very neighborhood-friendly city.

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Explore The River City Like a Local: The Insiders Guide to Renting in Richmond, VA

Written by: Richard Corrigan

Welcome to Richmond! For those unfamiliar, it’s Virginia’s state capitol, a city with a long and rich history, and—some might say—Virginia’s biggest small town. There’s a lot to love about living here.

Articles, How-To's, and Tips

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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.

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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.

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Renting with Roommates: Realistic Expectations for Shared Lease

Written by: Christine Leonard, Esq.

Given the high costs for housing, I have found that many people are looking for a roommate to share expenses. These arrangements can increase opportunities for more desirable and larger spaces.