Cheap Apartments for Rent in the Downtown Richmond Neighborhood of Richmond, VA from $500 (181 Rentals)

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

property at 2400 Barton Ave

2400 Barton Ave

RichmondVA23222
property at 700 N 2nd St

700 N 2nd St

RichmondVA23219
property at 1322 W Broad St

1322 W Broad St

RichmondVA23220
property at 1605 Hickory St

1605 Hickory St

RichmondVA23222
Showing Results 1-50, Page 1 of 4

Downtown Richmond, Richmond, VA Local Guide

Cheapest Available Downtown Richmond Apartments for Rent

 

The cheapest available apartment rental in the Downtown Richmond area of Richmond, VA is a 3 Beds unit found at Chesterfield Apartments priced from $807. Bloom Apartments II has the second lowest priced unit, which is a 1 Bed apartment currently listed from $899. Here are the most affordable Downtown Richmond apartments for rent in Richmond, VA:

Apartment ListingModel NameBed/BathPriced From
Chesterfield ApartmentsTHE MULBERRY FLOOR PLAN - SUITE II3BR,1BA$807
Bloom Apartments II1Bed/1Bath: 463 sq ft1BR,1BA$899
Eagle Mill LoftsStudiosStudio,1BA$925
Van de VyverThe ReserveStudio,1BA$998
The Lofts at Shockoe SlipThe Lofts at Shockoe Slip 316Studio,1BA$999
The Foundry ApartmentsOne Bedroom1BR,1BA$1,013
The Stables1 Bedroom 1 Bathroom1BR,1BA$1,055
The Mezzo LoftsMontage Gallery - StudiosStudio,1BA$1,086
Mortons Apartments1BR/1.0BA1BR,1BA$1,100

Best Value Apartments for Rent in Downtown Richmond, VA

As of September 08, 2025 the best value apartment in the Downtown Richmond area is the $1.42 price per square foot 715 W Clay St Model at 715 W Clay St, Unit B in the in the Downtown Richmond neighborhood starting from $2,595. The second greatest value Downtown Richmond apartment is the 4x2 - Priced Per Bedroom Model at Marshall Park starting at $699 with a $0.47 price per square foot in the Downtown Richmond neighborhood. Here is today’s list of the best values for Downtown Richmond apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
715 W Clay St, Unit B715 W Clay St3BR,2BA$1.42
Marshall Park4x2 - Priced Per Bedroom4BR,2BA$0.47
Lofts and Upper Lofts at Canal WalkCanal 236 2 BedsStudio ,1BA$1.27
Raven PlaceB1.12BR,2BA$1.47
Iron House Apartments2 Bedroom 2 Bath with Office2BR,2BA$1.46
Cary Belvidere ApartmentsTwo Beds2BR,2BA$1.48
Marshall Street Apartments1BR/1.0BA1BR,1BA$1.38
Miller and Rhoads Residences1 Bedroom1BR,1BA$1.43
South Arthur1/11BR,1BA$1.53
Mortons Apartments1BR/1.0BA1BR,1BA$1.42

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Pet Friendly Lifestyle
Downtown Richmond, Richmond, VA

Ranked #15

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of neighborhoods, cities, and rental properties across Virginia, including Richmond. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including filtering automatically for convenient access to the outdoors, luxury housing options, transit availability, pet-friendly communities, apartment communities for the kids, and other valuable search options. Use Lifestyle Search in the site filter options on this page - and find your Perfect place!

Frequently Asked Questions about Cheap Downtown Richmond Apartments

What is a cheap apartment in Downtown Richmond?

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

What is the price of a cheap apartment in Downtown Richmond?

The cheapest apartment in Downtown Richmond is Bloom Apartments II which is listed at $899, while the average apartment in Downtown Richmond costs $2,239.

What types of apartments are the cheapest in Downtown 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 186 regular apartments in Downtown 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 Downtown Richmond?

Cheap apartments in Downtown Richmond have an average cost of $430 which is $1,809 cheaper than the average rent for all rentals in Downtown Richmond.

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.

decorative image for A Local Experts Guide To the Top Budget-Friendly Neighborhoods to Rent in Richmond, VA article

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 Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

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The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.

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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.