Cheap Apartments for Rent in the City Center Neighborhood of Richmond, VA from $500 (40 Rentals)

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Search the lowest-cost Apartments available for rent right now in the City Center area of 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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Richmond Arts
1 Bedroom Apartments

Richmond Arts

115 N 1st StRichmond, VA 23219
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Jernigin Hall
Studio to 1 Bedroom Apartments

Jernigin Hall

314 W Grace StRichmond, 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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Market Slip
1 to 2 Bedroom Apartments

Market Slip

2 S 17th StRichmond, VA 23219
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The Rosa
1 Bedroom Apartments

The Rosa

744 N 2nd StRichmond, VA 23219
Senior Living
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501-503 E Main St
1 Bedroom Apartments

501-503 E Main St

501-503 E Main StRichmond, VA 23219
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The Hill Building
1 to 2 Bedroom Apartments

The Hill Building

114 Virginia StRichmond, VA 23219
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Linden Tower
1 to 2 Bedroom Apartments

Linden Tower

116 E Franklin StRichmond, VA 23219
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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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1820 E Broad St
1 to 3 Bedroom Apartments

1820 E Broad St

1820 E Broad StRichmond, VA 23223
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The Stables
1 Bedroom Apartments

The Stables

410 Hancock StRichmond, VA 23220
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1 West Cary
1 Bedroom Apartments

1 West Cary

106 S Foushee StRichmond, VA 23220
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Old Stone Row
1 to 2 Bedroom Apartments

Old Stone Row

2001 E Franklin StRichmond, VA 23223
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Engine at The Masonry
1 to 2 Bedroom Apartments

Engine at The Masonry

2026 E Main StRichmond, VA 23223
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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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Pine Court II
Studio to 3 Bedroom Apartments

Pine Court II

611 W Cary StRichmond, VA 23220
Student Housing
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Pine Court Apartments III
Studio to 3 Bedroom Apartments

Pine Court Apartments III

723-725 W Cary StRichmond, VA 23220
Student Housing
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Pine Court I
Studio to 2 Bedroom Apartments

Pine Court I

707 W Cary StRichmond, VA 23220
Student Housing
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Showing Results 1-40, Page 1 of 1

City Center, Richmond, VA Local Guide

Cheapest Available City Center Apartments for Rent

 

The cheapest available apartment rental in the City Center area of Richmond, VA is a Studio unit found at Towers on Franklin priced from $900. Van de Vyver has the second lowest priced unit, which is a Studio apartment currently listed from $998. Here are the most affordable City Center apartments for rent in Richmond, VA:

Apartment ListingModel NameBed/BathPriced From
Towers on FranklinGoldStudio,1BA$900
Van de VyverThe ReserveStudio,1BA$998
The Lofts at Shockoe SlipThe Lofts at Shockoe Slip 316Studio,1BA$999
Jefferson Townhouses1X11BR,1BA$1,000
Attain ShockoeCapitolStudio,1BA$1,043
Cedar BroadA2b1BR,1BA$1,045
The Stables1 Bedroom 1 Bathroom1BR,1BA$1,055
Old Stone RowOS A101BR,1BA$1,055
Smokehouse Lofts1 Beds, 1 Baths1BR,1BA$1,060
210 E Grace St1bed/1bath1BR,1BA$1,100

Best Value Apartments for Rent in City Center, VA

As of July 30, 2025 the best value apartment in the City Center 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 City Center apartment is the 2BR/2.0BA Model at Park Plaza @ Belvidere starting at $2,033 with a $1.45 price per square foot in the Downtown Richmond neighborhood. Here is today’s list of the best values for City Center apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Marshall Park4x2 - Priced Per Bedroom4BR,2BA$0.51
Park Plaza @ Belvidere2BR/2.0BA2BR,2BA$1.45
Lofts and Upper Lofts at Canal WalkCanal 236 2 BedsStudio ,1BA$1.31
Iron House Apartments3 Bedroom 2 Bath3BR,2BA$1.32
Raven PlaceB1.12BR,2BA$1.47
The Mezzo LoftsMotif Gallery - 2 Bedroom 1.5 Bath2BR,1.5BA$1.48
The BerkshireMonroe1BR,1BA$1.26
Trolley Lofts2BR/2.0BA2BR,2BA$1.58
The Corner Lofts - 1321 E. Main St.1BR/1.0BA1BR,1BA$1.39
The Mill At Manchester Lofts1BR/1.0BA1BR,1BA$1.54

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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Pet Friendly Lifestyle
City Center, Richmond, VA

Ranked #27

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Frequently Asked Questions about Cheap City Center Apartments

What is a cheap apartment in City Center?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in City Center is under $1,100.

What is the price of a cheap apartment in City Center?

The cheapest apartment in City Center is Jefferson Townhouses which is listed at $1,000, while the average apartment in City Center costs $1,904.

What types of apartments are the cheapest in City Center?

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 135 regular apartments in City Center 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 City Center?

Cheap apartments in City Center have an average cost of $515 which is $1,389 cheaper than the average rent for all rentals in City Center.

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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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.

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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.