Cheap Apartments for Rent in the Fairmount Neighborhood of Richmond, VA from $500 (57 Rentals)

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

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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The Carlisle
2 Bedroom Apartments

The Carlisle

1700 Carlisle AveRichmond, VA 23231
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Richmond Arts
1 Bedroom Apartments

Richmond Arts

115 N 1st StRichmond, VA 23219
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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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101 Poe St
2 Bedroom Apartments

101 Poe St

101 Poe StRichmond, VA 23222
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Jernigin Hall
Studio to 1 Bedroom Apartments

Jernigin Hall

314 W Grace StRichmond, VA 23220
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2910 Chamberlayne Ave
1 Bedroom Apartments

2910 Chamberlayne Ave

2910 Chamberlayne AveRichmond, VA 23222
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Market Slip
1 to 2 Bedroom Apartments

Market Slip

2 S 17th StRichmond, VA 23219
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The Rosa
1 Bedroom Apartments

The Rosa

744 N 2nd StRichmond, VA 23219
Senior Living
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1000 Porter St
Studio to 3 Bedroom Apartments

1000 Porter St

1000 Porter StRichmond, VA 23224
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501-503 E Main St
1 Bedroom Apartments

501-503 E Main St

501-503 E Main StRichmond, VA 23219

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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1200 SEMMES Apartments
Studio to 2 Bedroom Apartments

1200 SEMMES Apartments

1200 Semmes AveRichmond, VA 23224
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Ashley Oaks Apartments
2 to 3 Bedroom Apartments

Ashley Oaks Apartments

1400 Jennie Scher RdRichmond, VA 23231
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The Hill Building
1 to 2 Bedroom Apartments

The Hill Building

114 Virginia StRichmond, VA 23219
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Linden Tower
1 to 2 Bedroom Apartments

Linden Tower

116 E Franklin StRichmond, VA 23219
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1820 E Broad St
1 to 3 Bedroom Apartments

1820 E Broad St

1820 E Broad StRichmond, VA 23223
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1 West Cary
1 Bedroom Apartments

1 West Cary

106 S Foushee StRichmond, VA 23220
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Old Stone Row
1 to 2 Bedroom Apartments

Old Stone Row

2001 E Franklin StRichmond, VA 23223
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Navigating the Rental Market: Tips for First-Time Renters

Entering the rental market? Learn these simple tips and strategies to avoid common pitfalls and make confident choices. Rent with peace of mind.

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Fairmount, Richmond, VA Local Guide

Cheapest Available Fairmount Apartments for Rent

 

The cheapest available apartment rental in the Fairmount area of Richmond, VA is a 2 Beds unit found at New Manchester Flats priced from $837. Towers on Franklin has the second lowest priced unit, which is a Studio apartment currently listed from $900. Here are the most affordable Fairmount apartments for rent in Richmond, VA:

Apartment ListingModel NameBed/BathPriced From
New Manchester FlatsThe Bainbridge2BR,1BA$837
Towers on FranklinGoldStudio,1BA$900
Van de VyverThe ReserveStudio,1BA$998
Dogtown Apartments1 Bedroom Standard1BR,1BA$999
Jefferson Townhouses1X11BR,1BA$1,000
The Foundry ApartmentsOne Bedroom1BR,1BA$1,013
Cedar BroadA2b1BR,1BA$1,045
Townsend SquareTownhomes starting at $1050.00- Now Accepting A...2BR,1BA$1,050
1204 Hull StOne Bed One Bath1BR,1BA$1,050
The Stables1 Bedroom 1 Bathroom1BR,1BA$1,055

Best Value Apartments for Rent in Fairmount, VA

As of July 25, 2025 the best value apartment in the Fairmount 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 Fairmount apartment is the The Hull Model at The Hudson starting at $1,925 with a $1.43 price per square foot in the Old South neighborhood. Here is today’s list of the best values for Fairmount apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
Marshall Park4x2 - Priced Per Bedroom4BR,2BA$0.51
The HudsonThe Hull3BR,2BA$1.43
HydroThe Bay2BR,2BA$1.41
Lofts and Upper Lofts at Canal WalkCanal 236 2 BedsStudio ,1BA$1.31
1710 East Franklin Street1BR/1.0BA1BR,1BA$1.03
Townsend SquareTownhomes starting at $1050.00- Now Accepting A...2BR,1BA$0.91
Hatcher Tobacco Flats3X23BR,2BA$1.23
Highland Terrace Apartments2-Bedroom2BR,2BA$1.34
City View Place2 Bedroom Unit2BR,1.5BA$1.18
Mallard GreensTWO BEDROOMS JUST FOR YOU!! AVAILABLE NOW - WH...2BR,1BA$1.33

Quick Rent Budget Calculator

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Pet Friendly Lifestyle
Fairmount, 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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Best Local Schools in
Fairmount, Richmond, VA

School data provided by Great Schools

Lifestyle Ratings

ApartmentHomeLiving brings you our detailed rental analysis called 'Lifestyle Ratings' - a comparison of rentals and neighborhoods across the USA, including Fairmount, Richmond, and the greater Richmond area. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including filtering automatically for the best proximity to parks and outdoor amenities, luxury housing options, kid and pet-friendly communities, availability of transit options, and much more. These search options are in the site filters at the top of this page.

Getting Around the Fairmount Neighborhood in Richmond, VA

Walk Score®

72 / 100

Very Walkable

Most errands can be accomplished on foot

Bike Score®

60 / 100

Bikeable

Some bike infrastructure

Transit Score®

43 / 100

Some Transit

A few nearby public transportation options

What Are Walk Score®, Transit Score®, and Bike Score® Ratings?

  • Walk Score® measures the walkability of any address.
  • Transit Score® measures access to public transit.
  • Bike Score® measures the bikeability of any address.

Frequently Asked Questions about Cheap Fairmount Apartments

What is a cheap apartment in Fairmount?

A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Fairmount is under $1,055.

What is the price of a cheap apartment in Fairmount?

The cheapest apartment in Fairmount is New Manchester Flats which is listed at $979, while the average apartment in Fairmount costs $2,004.

What types of apartments are the cheapest in Fairmount?

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 216 regular apartments in Fairmount 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 Fairmount?

Cheap apartments in Fairmount have an average cost of $506 which is $1,498 cheaper than the average rent for all rentals in Fairmount.

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.