Cheap Apartments for Rent in the Downtown Richmond Neighborhood of Richmond, VA from $500 (182 Rentals)

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

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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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Richmond’s Best Affordable Neighborhoods

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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 1 Bed unit found at Bloom Apartments II priced from $899. Towers on Franklin has the second lowest priced unit, which is a Studio apartment currently listed from $900. Here are the most affordable Downtown Richmond apartments for rent in Richmond, VA:

Apartment ListingModel NameBed/BathPriced From
Bloom Apartments II1Bed/1Bath: 456 sq ft1BR,1BA$899
Towers on FranklinGoldStudio,1BA$900
Eagle Mill Lofts2bed 1bth2BR,1BA$950
Van de VyverThe ReserveStudio,1BA$998
The Foundry ApartmentsOne Bedroom1BR,1BA$1,013
The Stables1 Bedroom 1 Bathroom1BR,1BA$1,055
Coliseum LoftsE1Studio,1BA$1,071
210 E Grace St1bed/1bath1BR,1BA$1,100
T and E Apartments0 Bed 1 BathStudio,1BA$1,130
Parc View at CommonwealthD5 - Penthouse4BR,4BA$1,145

Best Value Apartments for Rent in Downtown Richmond, VA

As of July 25, 2025 the best value apartment in the Downtown Richmond 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 Downtown Richmond 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 Downtown Richmond 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
1300 Grove Ave, Unit 31300 Grove Ave2BR,1BA$1.17
Lofts and Upper Lofts at Canal WalkCanal 236 2 BedsStudio ,1BA$1.31
Iron House Apartments3 Bedroom 2 Bath3BR,2BA$1.32
1710 East Franklin Street1BR/1.0BA1BR,1BA$1.03
Raven PlaceB1.12BR,2BA$1.47
1510 W Broad St - Residential2BR/2.0BA2BR,2BA$1.54
The Corner Lofts - 1321 E. Main St.1BR/1.0BA1BR,1BA$1.50
1407 E Cary Street1 Beds, 1 Baths1BR,1BA$1.55

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Downtown Richmond, Richmond, VA

Ranked #12

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 the Cheapest Studio apartment in Downtown Richmond?

Currently the most affordable Cheap Studio Apartment in Downtown Richmond is at Towers on Franklin listed at $900.

How much is rent for a Cheap One Bedroom Downtown Richmond Apartment?

The lowest price for a Cheap One Bedroom Downtown Richmond Apartment is $899 at Bloom Apartments II.

What is the lowest price for a Cheap Two Bedroom Downtown Richmond Apartment for rent?

Today's best deal for a Cheap Two Bedroom Apartment in Downtown Richmond is starting from $950 at Eagle Mill Lofts.

What is the most affordable Downtown Richmond Three Bedroom Apartment?

The best deal on a cheap Downtown Richmond Three Bedroom Apartment rental is at Parc View at Commonwealth and starts from $1,199.

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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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.

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Know Your Budget: Calculating What You Can Realistically Afford When Renting

Written by: Lauren Harrington

Renting an apartment or house isn’t just about looking through online ads, choosing a few apartments or homes you want to tour, filling out an application, and putting down a deposit. Those things are all necessary and important.