Cheap Apartments for Rent in the Fairmount Neighborhood of Richmond, VA from $500 (75 Rentals)

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

property at 925 N 20th St

$950 - $995

2 Bedroom Rentals

Available Now

925 N 20th St

RichmondVA23223

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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Goshen Street
Studio to 3 Bedroom Apartments

Goshen Street

302 Goshen StRichmond, VA 23220
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The Carlisle
2 Bedroom Apartments

The Carlisle

1700 Carlisle AveRichmond, VA 23231
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Jefferson Mews
1 to 3 Bedroom Apartments

Jefferson Mews

600 Jefferson AveRichmond, VA 23223
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Richmond Arts
Studio to 2 Bedroom Apartments

Richmond Arts

115 N 1st StRichmond, VA 23219
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Market Slip
1 to 2 Bedroom Apartments

Market Slip

2 S 17th StRichmond, VA 23219
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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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2910 Chamberlayne Ave
1 Bedroom Apartments

2910 Chamberlayne Ave

2910 Chamberlayne AveRichmond, VA 23222
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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
Student Housing
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Tracks at the Masonry
Studio to 2 Bedroom Apartments

Tracks at the Masonry

1716 E Cary StRichmond, VA 23223
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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
  • Utilities Included

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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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 $835. Towers on Franklin has the second lowest priced unit, which is a Studio apartment currently listed from $850. Here are the most affordable Fairmount apartments for rent in Richmond, VA:

Apartment ListingModel NameBed/BathPriced From
New Manchester FlatsThe Maury2BR,2BA$835
Towers on FranklinHarrisonStudio,1BA$850
Hatcher Tobacco Flats1X11BR,1BA$933
Highland Terrace Apartments2-Bedroom2BR,2BA$946
Van de VyverThe ReserveStudio,1BA$998
Miller Lofts @ Plant Zero1 Bedroom 1 Bath1BR,1BA$999
Hopper LoftsA21BR,1BA$999
Jefferson Townhouses1X11BR,1BA$1,000
Atrium on Broad Apartments1BR/1.0BA1BR,1BA$1,025
Cedar BroadA2b1BR,1BA$1,045

Best Value Apartments for Rent in Fairmount, VA

As of February 03, 2026 the best value apartment in the Fairmount area is the $1.41 price per square foot 3BR/3.0BA Model at Park Plaza @ Belvidere in the in the Downtown Richmond neighborhood starting from $2,905. The second greatest value Fairmount apartment is the Two Bed Two Bath Model at Broadway Apartments starting at $1,446 with a $1.06 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.
Park Plaza @ Belvidere3BR/3.0BA3BR,3BA$1.41
Broadway ApartmentsTwo Bed Two Bath2BR,2BA$1.06
The BerkshireClay1BR,1BA$1.33
209 E Main StUnit 208A2BR,1BA$1.36
Highland Terrace Apartments2-Bedroom2BR,2BA$0.96
Miller Lofts @ Plant Zero2 Bedroom 2 Bath2BR,2BA$1.36
Creighton Renaissance ApartmentsTwo Bedroom - Townhome2BR,1.5BA$1.16
City View Place2 Bedroom Unit2BR,1.5BA$1.18
Mallard GreensVacancies are melting fast at Mallard Greens......2BR,1BA$1.33
Hatcher Tobacco Flats1X11BR,1BA$1.40

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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Quick Rent Budget Calculator

How much rent can you afford?

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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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.

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 $1,045.

What is the price of a cheap apartment in Fairmount?

The cheapest apartment in Fairmount is Hatcher Tobacco Flats which is listed at $933, while the average apartment in Fairmount costs $2,107.

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 203 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 $473 which is $1,634 cheaper than the average rent for all rentals in Fairmount.

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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18 Must-Ask Rental Tour Questions That Reveal the Truth about a Property

Written by: Lauren Harrington

Renting your next home can feel thrilling and overwhelming at the same time.

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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.