Cheap Apartments for Rent in the Fairmount Neighborhood of Richmond, VA from $500 (111 Rentals)

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

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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 1 Bed unit found at New Manchester Flats priced from $706. Hatcher Tobacco Flats has the second lowest priced unit, which is a 1 Bed apartment currently listed from $933. Here are the most affordable Fairmount apartments for rent in Richmond, VA:

Apartment ListingModel NameBed/BathPriced From
New Manchester FlatsThe Decatur1BR,1BA$706
Hatcher Tobacco Flats1X11BR,1BA$933
Towers on FranklinRodneyStudio,1BA$949
Creighton Renaissance ApartmentsOne Bedroom - B1BR,1BA$981
Van de VyverThe ReserveStudio,1BA$998
Dogtown Apartments1 Bedroom Standard1BR,1BA$999
Jefferson Townhouses1X11BR,1BA$1,000
Hopper LoftsA11BR,1BA$1,012
The Foundry ApartmentsOne Bedroom1BR,1BA$1,013

Best Value Apartments for Rent in Fairmount, VA

As of October 27, 2025 the best value apartment in the Fairmount area is the $1.45 price per square foot Downtown Double Suite Model at The Berkshire in the in the Downtown Richmond neighborhood starting from $2,700. The second greatest value Fairmount apartment is the 715 W Clay St Model at 715 W Clay St, Unit B starting at $2,195 with a $1.20 price per square foot in the Downtown Richmond 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.
The BerkshireDowntown Double Suite2BR,2BA$1.45
715 W Clay St, Unit B715 W Clay St3BR,2BA$1.20
Lofts and Upper Lofts at Canal WalkCanal 236 2 BedsStudio ,1BA$1.26
Venus At Manchester Apartments2 -Bedroom, 2-Bath2BR,2BA$1.02
Flats at 25thElevation2BR,2BA$1.41
Marshall Street Apartments1BR/1.0BA1BR,1BA$1.25
City View Place2 Bedroom Unit2BR,1.5BA$1.18
Mallard GreensTWO BEDROOMS JUST FOR YOU!! AVAILABLE NOW - WH...2BR,1BA$1.33
Hatcher Tobacco Flats1X11BR,1BA$1.41
1527 Mechanicsville Tpke, Unit 11527 Mechanicsville Tpke1BR,1BA$1.17

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Pet Friendly Lifestyle
Fairmount, Richmond, VA

Ranked #14

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 $1,013.

What is the price of a cheap apartment in Fairmount?

The cheapest apartment in Fairmount is New Manchester Flats which is listed at $706, while the average apartment in Fairmount costs $1,994.

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 257 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 $689 which is $1,305 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.

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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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! 

decorative image for The Rental Move-In Inspection Checklist: A Guide for Renters article

The Rental Move-In Inspection Checklist: A Guide for Renters

Written by: Trey Huguley

The move-in inspection checklist is a crucial tool for both tenants and landlords. This checklist, provided by the team at ApartmentHomeLiving.com, helps document the condition of an apartment at the time of move-in.