
Cheap Studio Apartments for Rent in the Highland Terrace Neighborhood of Richmond, VA from $850 (20 Rentals)


210 E Grace St

Saddlewood Apartments & Townhomes
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.

The Biggs Building

The Mezzo Lofts
Highland Terrace - One of the Best Affordable Neighborhoods in Richmond
Named as one of the Best Affordable Neighborhoods to rent in Richmond by our Local Expert Richard Corrigan. See how it ranks!

Atrium on Broad Apartments

Grace & Monroe Apartments

Spectrum Apartments
Richmond’s Best Affordable Neighborhoods
Learn about Richmond and the best affordable places to live by our Local Expert Richard Corrigan
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.
Know Your Rights - How Discrimination Laws Impact Landlords and Tenants
Read our practical guide to landlord and tenant rights. Understand protected classes, reasonable accommodations, and legal exceptions to prevent housing discrimination.
Highland Terrace, Richmond, VA Local Guide

How much does it cost to rent an apartment in Highland Terrace?
Bedroom | Average Rent | Cheapest Rent | Highest Rent |
---|---|---|---|
Highland Terrace Studio Apartments | $1,195 | $850 | $3,116 |
Highland Terrace 1 Bedroom Apartments | $1,490 | $700 | $4,136 |
Highland Terrace 2 Bedroom Apartments | $1,845 | $939 | $5,056 |
Highland Terrace 3 Bedroom Apartments | $2,196 | $879 | $4,050 |
Highland Terrace 4 Bedroom Apartments | $1,086 | $750 | $3,100 |
Explore Richmond
Highland Terrace, Richmond, VA Local Guide
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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.
Getting Around the Highland Terrace Neighborhood in Richmond, VA
Walk Score®
67 / 100
Somewhat Walkable
Some errands can be accomplished on foot
Bike Score®
47 / 100
Somewhat Bikeable
Minimal bike infrastructure
Transit Score®
37 / 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 Highland Terrace Apartments
What is a cheap apartment in Highland Terrace?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Highland Terrace is under $1,145.
What is the price of a cheap apartment in Highland Terrace?
The cheapest apartment in Highland Terrace is Towers on Franklin which is listed at $850, while the average apartment in Highland Terrace costs $3,400.
What types of apartments are the cheapest in Highland Terrace?
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 112 regular apartments in Highland Terrace 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 Highland Terrace?
Cheap apartments in Highland Terrace have an average cost of $449 which is $2,951 cheaper than the average rent for all rentals in Highland Terrace.
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.

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.

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.

The Freedom of Short-Term Leases: Exploring the Advantages for Renters
Written by: Bobbi Jackson
If you’re looking to relocate right now, a popular solution that may best fit your current rental needs is a short-term lease.

Navigating the Rental Market: Tips for First-Time Renters
Written by: Sandy Baker
Making the decision to rent is exciting and terrifying at the same time. For many people, there are a lot of unknowns.