Cheap Apartments for Rent in the City Center Neighborhood of Richmond, VA from $500 (187 Rentals)

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

property at 3 N 18th St

$995

Total Monthly Price

Total Monthly Price

Base Rent
$995
Total Monthly Price
$995

Studio, 1 Bath Home for Rent

Available Now

3 N 18th St

RichmondVA23223
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209 E Main St
$1,100 - $1,700
Total Monthly Price

Total Monthly Price

Base Rent
$1,100 - $1,700
Total Monthly Price
Varies
1 to 2 Bedroom Apartments Available Now

209 E Main St

209 E Main StRichmond, VA 23219
Cost Per Sq.Ft.
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What Does “Rent Burdened” Mean? How Much Rent Is Too Much

Learn the official definition (spending 30% or more of your gross income on housing) and how to calculate your exact rent-to-income ratio. This guide offers expert tips on factoring in total housing costs (including utilities and fees) and budgeting accurately to avoid unnecessary financial strain.

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Towers on Franklin
Rent Specials
$1,135 - $2,139
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$990 - $1,994
Required Monthly Fees
$145
Total Monthly Price
$1,135 - $2,139
Studio to 2 Bedroom Apartments Available Now

Towers on Franklin

104 W Franklin StRichmond, VA 23220
Student Housing
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  • Customer Reviewed
  • 3D Tour

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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The Masonry Apartments
Rent Specials
$1,186 - $1,861
Total Monthly Price

Total Monthly Price

Base Rent
$1,095 - $1,770
Required Monthly Fees
Varies
Total Monthly Price
Varies
Studio to 3 Bedroom Apartments Available Now

The Masonry Apartments

2001 E Franklin StRichmond, VA 23223
Student Housing
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  • Customer Reviewed
  • Low Income
property at 17 W Main St

$1,187

Total Monthly Price

Total Monthly Price

Base Rent
$1,175
Required Monthly Fees
$12
Total Monthly Price
$1,187

Studio, 1 Bath Home for Rent

Available Now

17 W Main St

RichmondVA23220
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Franklin Street Apartments
Rent Specials
$1,195 - $1,495
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,195 - $1,495
Total Monthly Price
$1,195 - $1,495
Studio to 1 Bedroom Apartments Available Now

Franklin Street Apartments

311 W Franklin StRichmond, VA 23220
Student Housing
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  • Utilities Included
  • Smoke Free
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Smokehouse Lofts
Rent Specials
$1,195
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,195
Total Monthly Price
$1,195
1 Bedroom Apartments Available Now

Smokehouse Lofts

110-114 S 15th StRichmond, VA 23219
Transit Friendly
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  • Utilities Included
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Iron House Apartments
Rent Specials
$1,228 - $2,515
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,123 - $2,410
Required Monthly Fees
Varies
Total Monthly Price
Varies
1 to 3 Bedroom Apartments Available Now

Iron House Apartments

1309 W Broad StRichmond, VA 23220
Transit Friendly
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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 Shockoe Collection
$1,249 - $2,549
Total Monthly Price12 Month Lease Term

Total Monthly Price

Base Rent
$1,099 - $2,399
Required Monthly Fees
$150
Total Monthly Price
$1,249 - $2,549
1 to 3 Bedroom Apartments Available Now

The Shockoe Collection

104 Shockoe SlipRichmond, VA 23219
Student Housing
  • Verified
property at 1731 E Main St

$1,250 - $1,595

Total Monthly Price

Total Monthly Price

Base Rent
$1,250
Total Monthly Price
$1,250

1 Bedroom Rentals

Available Now

1731 E Main St

RichmondVA23223
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The Trail Lofts
$1,253 - $2,855
Total Monthly Price

Total Monthly Price

Base Rent
$1,253 - $2,855
Total Monthly Price
$1,253 - $2,855
1 to 2 Bedroom Apartments Available Now

The Trail Lofts

12 S 17th StRichmond, VA 23219
Transit Friendly
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  • Utilities Included
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Deco at CNB
$1,269 - $2,104
Total Monthly Price

Total Monthly Price

Base Rent
$1,263 - $2,098
Required Monthly Fees
Varies
Total Monthly Price
Varies
Studio to 2 Bedroom Apartments Available Now

Deco at CNB

219 E Broad StRichmond, VA 23219
Student Housing
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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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property at 12 W Clay St

$1,295 - $2,195

Total Monthly Price

Total Monthly Price

Base Rent
$1,295
Total Monthly Price
$1,295

1 To 2 Bedroom Rentals

Available Now

12 W Clay St

RichmondVA23220
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The Loop at Midtown
$1,319 - $2,600
Total Monthly Price

Total Monthly Price

Base Rent
$1,219 - $2,500
Required Monthly Fees
$100
Total Monthly Price
$1,319 - $2,600
1 to 3 Bedroom Apartments Available Now

The Loop at Midtown

2 W Franklin StRichmond, VA 23220
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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

From theft to fire to water damage, the unexpected can happen to any renter. Discover why renters insurance is one of the smartest and most affordable investments you can make as a tenant.

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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 Van de Vyver priced from $998. American Tobacco Collection has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,025. Here are the most affordable City Center apartments for rent in Richmond, VA:

Apartment ListingModel NameBed/BathPriced From
Van de VyverThe ReserveStudio,1BA$998
American Tobacco CollectionDill-A41BR,1BA$1,025
The AttainPocahontasStudio,1BA$1,034
Lofts and Upper Lofts at Canal Walk - Canal I and Canal IICanal 236 StudioStudio,1BA$1,051
The Stables1 Bedroom 1 Bathroom1BR,1BA$1,055
209 E Main StUnit 4,6,81BR,1BA$1,100
Raven PlaceA.11BR,1BA$1,149
The EdisonStudioStudio,1BA$1,157
Monroe Park Towers Apartments0BR/1.0BAStudio,1BA$1,164

Best Value Apartments for Rent in City Center, VA

As of July 09, 2026 the best value apartment in the City Center area is the $1.44 price per square foot 2BR/2.0BA Model at Park Plaza @ Belvidere in the in the Downtown Richmond neighborhood starting from $2,014. The second greatest value City Center apartment is the 16 W Broad St Model at 16 W Broad St, Unit Apartment 1 starting at $1,900 with a $1.36 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.
Park Plaza @ Belvidere2BR/2.0BA2BR,2BA$1.44
16 W Broad St, Unit Apartment 116 W Broad St3BR,2BA$1.36
Residences at the John Marshall2 Bed 2 Bath2BR,2BA$1.58
210 E Grace St2 Bed/2 Bath2BR,2BA$1.35
Main25251BR/1.0BA1BR,1BA$1.34
ConsolidatedCO-B One Bedroom, One Bathroom1BR,1BA$1.42
Miller and Rhoads Residences1 Bedroom1BR,1BA$1.61
Mortons Apartments1BR/1.0BA1BR,1BA$1.32
Jefferson Townhouses2x12BR,1BA$1.63
Lofts and Upper Lofts at Canal Walk - Canal I and Canal IICanal 236 StudioStudio ,1BA$1.50

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 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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Real Estate and Rental Term Glossary | ApartmentHomeLiving.com Renter University

From the letter A all the way to the letter Z, the Real Estate and Rental Term Glossary from the content team at ApartmentHomeLiving.com provides our visitors and shoppers with a little clarity and helpful guidance in navigating the real estate world through definitions and explainers for the top subjects and terms that someone may come across during the leasing, buying, or selling process.

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Pet Friendly Lifestyle
City Center, Richmond, VA

Ranked #31

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 $1,164.

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

The cheapest apartment in City Center is American Tobacco Collection which is listed at $1,025, while the average apartment in City Center costs $1,969.

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 117 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 $548 which is $1,421 cheaper than the average rent for all rentals in City Center.

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 Expert's 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 Insider's 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.

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Your Richmond Neighborhood Guide: Living Near the City's Top Employers

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Richmond is a beautiful place to live and work. The city has something for everyone—historic charm, trendy shops and boutiques, world-class restaurants and amazing urban parks and green spaces.

Articles, How-To's, and Tips

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Renters Insurance 101: What It Is, What It Covers, and Why You Need It

Written by: Robin Stewart

Insurance seems to be a part of life. In some states, having insurance is the law, as is the case for automobile insurance. Renters are no exception.

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Apartment Occupancy Rates: Renter Attraction vs Renter Retention

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There’s a tenet in marketing about client or customer attraction and retention. Studies and data have consistently shown it costs less to keep a current customer than to attract a new one.

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How I Find the Perfect Rental for My Clients: A Real Estate Pro's Guide

Written by: Robin Stewart

Evaluating rental properties for clients draws many parallels to house-hunting. Whether an apartment, loft, townhouse, or other rental, finding the right place means finding “home” for your client.

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Pet-Friendly Renting: Everything You Need to Know Before You Move

Written by: Christine Leonard, Esq.

For so many of us, pets are the best companions and a big part of our lives. For this reason, a pet-friendly house or apartment is often a very important - and nonnegotiable - part of a move.