Cheap Apartments for Rent in the Colonial Place Neighborhood of Richmond, VA from $800 (61 Rentals)

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Search the lowest-cost Apartments available for rent right now in the Colonial Place area of 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

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property at 3600 W Broad St

$1,550 - $2,225

1 To 2 Bedroom Rentals

Available Now

3600 W Broad St

RichmondVA23230
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2700 Idlewood Ave
Studio to 1 Bedroom Apartments

2700 Idlewood Ave

2700 Idlewood AveRichmond, VA 23220
Senior Living
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3329 Cutshaw Ave
1 to 2 Bedroom Apartments

3329 Cutshaw Ave

3329 Cutshaw AveRichmond, VA 23230
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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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Virginia Apartments
1 to 2 Bedroom Apartments

Virginia Apartments

2602-2608 Kensington AveRichmond, VA 23220
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Legacy At Imperial Village
Studio to 2 Bedroom Apartments

Legacy At Imperial Village

1711 Bellevue AveRichmond, VA 23227
Senior Living
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The Faison Residence
1 to 3 Bedroom Apartments

The Faison Residence

5322 Markel RdRichmond, VA 23230
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Cary West Apartments
1 to 3 Bedroom Apartments

Cary West Apartments

2000-2021 W Cary StRichmond, VA 23220
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The Parkwood
Studio to 2 Bedroom Apartments

The Parkwood

3003 Parkwood AveRichmond, VA 23221
Student Housing
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MacTavish Flats
1 Bedroom Apartments

MacTavish Flats

1302 MacTavish AveRichmond, VA 23230
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306 N Mulberry St
2 Bedroom Apartments

306 N Mulberry St

306 N Mulberry StRichmond, VA 23220
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South Arthur
1 to 2 Bedroom Apartments

South Arthur

215-217 S Arthur Ashe BlvdRichmond, VA 23220

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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Showing Results 1-50, Page 1 of 2

Colonial Place, Richmond, VA Local Guide

Cheapest Available Colonial Place Apartments for Rent

 

The cheapest available apartment rental in the Colonial Place area of Richmond, VA is a Studio unit found at Legacy at Imperial Village priced from $835. Legacy Apartments has the second lowest priced unit, which is a 1 Bed apartment currently listed from $1,085. Here are the most affordable Colonial Place apartments for rent in Richmond, VA:

Apartment ListingModel NameBed/BathPriced From
Legacy at Imperial VillageStudioStudio,1BA$835
Legacy ApartmentsOne Bedroom, One Bath1BR,1BA$1,085
South Arthur1/11BR,1BA$1,200
2602-2606 Monument Ave2 Bedroom 1 Bath - 236462BR,1BA$1,230
Southern Stove LoftsstudioStudio,1BA$1,250
Guardian Place ApartmentsA1 Guardian Place II1BR,1BA$1,277
Cookie Factory LoftsStudio1BR,1BA$1,300
The Gallery Midtown ApartmentsClassic Ellwood1BR,1BA$1,350
Scotts Edge1BR-2351BR,1BA$1,369
1 Scott's AdditionNorfolk One Bed1BR,1BA$1,375

Best Value Apartments for Rent in Colonial Place, VA

As of January 11, 2026 the best value apartment in the Colonial Place area is the $1.39 price per square foot 3 Bed, 2 Bath Model at 100 N Arthur Ashe Blvd in the in the Far West neighborhood starting from $2,500. The second greatest value Colonial Place apartment is the D1 Model at Jordans Branch Apartments starting at $2,895 with a $1.89 price per square foot in the Far West neighborhood. Here is today’s list of the best values for Colonial Place apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
100 N Arthur Ashe Blvd3 Bed, 2 Bath3BR,2BA$1.39
Jordans Branch ApartmentsD13BR,2.5BA$1.89
2106 Parkwood Ave, Unit 12106 Parkwood Ave2BR,2BA$1.33
The Icon2 Bedroom Tower2BR,2BA$1.82
South Arthur2/12BR,1BA$1.80
Kensington, Patterson Place and Grove AveKensington Place - Two Bedroom2BR,1BA$1.68
2611 W Grace St, Unit 32611 W Grace St1BR,1BA$1.68
2602-2606 Monument Ave2 Bedroom 1 Bath - 236462BR,1BA$1.62
Legacy ApartmentsOne Bedroom, One Bath - Patio1BR,1BA$1.73
Legacy at Imperial VillageOne Bedroom One Bath Standard1BR,1BA$1.94

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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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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Best Local Schools in
Colonial Place, Richmond, VA

School data provided by Great Schools

Frequently Asked Questions about Cheap Colonial Place Apartments

What is a cheap apartment in Colonial Place?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Colonial Place is under $1,375.

What is the price of a cheap apartment in Colonial Place?

The cheapest apartment in Colonial Place is Legacy at Imperial Village which is listed at $1,085, while the average apartment in Colonial Place costs $5,500.

What types of apartments are the cheapest in Colonial Place?

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 69 regular apartments in Colonial Place 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 Colonial Place?

Cheap apartments in Colonial Place have an average cost of $204 which is $5,296 cheaper than the average rent for all rentals in Colonial Place.

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.

Articles, How-To's, and Tips

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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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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.

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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.