Cheap Apartments for Rent in the Colonial Place Neighborhood of Richmond, VA from $800 (54 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

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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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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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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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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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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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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Osprey Lofts
1 to 3 Bedroom Apartments

Osprey Lofts

3210 W Leigh StRichmond, VA 23230
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Scotts Edge
1 to 2 Bedroom Apartments

Scotts Edge

3408-3410 Moore StRichmond, VA 23230
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3514 Park Ave.
1 to 2 Bedroom Apartments

3514 Park Ave.

3514 Park AveRichmond, VA 23221
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South Arthur
1 to 2 Bedroom Apartments

South Arthur

215-217 S Arthur Ashe BlvdRichmond, VA 23220
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Century Flats
1 to 2 Bedroom Apartments

Century Flats

1004 N Thompson StRichmond, VA 23230
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Argon Apartments
1 to 3 Bedroom Apartments

Argon Apartments

3805 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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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
The Collection of Historic RichmondA3, A4 & A51BR,1BA$1,099
Southern Stove LoftsstudioStudio,1BA$1,275
Guardian Place ApartmentsA1 Guardian Place II1BR,1BA$1,277
Scotts Edge1BR-2161BR,1BA$1,285
South Arthur1/11BR,1BA$1,299
Cookie Factory LoftsStudio1BR,1BA$1,300
The Gallery Midtown ApartmentsClassic Ellwood1BR,1BA$1,355
The Summit at Scotts AdditionThe Retreat1BR,1BA$1,364

Best Value Apartments for Rent in Colonial Place, VA

As of January 19, 2026 the best value apartment in the Colonial Place area is the $2.04 price per square foot # 17 Model at The Abby on Stuart in the in the Far West neighborhood starting from $3,995. The second greatest value Colonial Place apartment is the 4 Bed, 2 Bath Model at 100 N Arthur Ashe Blvd starting at $2,500 with a $1.39 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.
The Abby on Stuart# 172BR,2.5BA$2.04
100 N Arthur Ashe Blvd4 Bed, 2 Bath3BR,2BA$1.39
Jordans Branch ApartmentsD13BR,2.5BA$1.94
The Icon2 Bedroom Tower2BR,2BA$1.77
South Arthur2/12BR,1BA$1.80
Kensington, Patterson Place and Grove AveKensington Place - Two Bedroom2BR,1BA$1.88
1 Scott's AdditionNorfolk One Bed1BR,1BA$2.05
Legacy ApartmentsOne Bedroom, One Bath - Patio1BR,1BA$1.73
Cookie Factory LoftsStudioStudio ,1BA$2.02
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 $1,364.

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 46 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 $103 which is $5,397 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.

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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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.

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How to Negotiate Your Apartment Lease and Save Money

Written by: Christine Leonard, Esq.

Everything is a negotiation in real estate!