Cheap Homes for Rent in Richmond, VA from $700 (85 Rentals)

How Many Bedrooms?Done
Select your price rangeDone
By AmenitiesDone
By Community TypeDone
Features and AvailabilityDone
Done

Search the lowest-cost Homes available for rent right now in Richmond.

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.

Read Article

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.

Read Article

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.

Read Article

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.

Read Article
property at 3101 2nd Ave

3101 2nd Ave

RichmondVA23222

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.

Read Article
Showing Results 1-50, Page 1 of 2

Richmond, VA Local Guide

Cheapest Neighborhoods for Apartments in Richmond, VA

Pricing Updated: 09/11/2025

Current apartment rentals in the Richmond, VA area range in price from $500 to $11,515 with an overall median price of $2,610. The three Richmond neighborhoods with the lowest median rent pricing are Petersburg Chesterfield at $730, Chestnut Hill at $599, and Cofer at $715. Here is today’s list of the top 10 neighborhoods with the lowest median pricing for Richmond Apartments for rent:

NeighborhoodMedian PriceMin PriceAvailable Units
Petersburg Chesterfield$1,530$73085
Chestnut Hill$1,532$59928
Cofer$1,565$715170
McGuire Manor$1,590$71598
Southwood$1,597$715107
Ginter Park$1,599$85036
Belt Center$1,600$715131
Northrop$1,603$715120
Woodhaven$1,606$715162
Forest Hill Terrace$1,609$715123

Cheapest Available Richmond Apartments for Rent

 

The cheapest available apartment rental in Richmond, VA is a 1 Bed unit found at Liberty Gardens in the Four Mile Run neighborhood priced from $500. New Manchester Flats in the East neighborhood has the second lowest priced unit, which is a 1 Bed apartment currently listed from $553. Here is today’s list of the most affordable Richmond apartments for rent:

Apartment ListingModel NameBed/BathPriced From
Liberty Gardens1 BR1BR,1BA$500
New Manchester FlatsThe Decatur1BR,1BA$553
Market SquareMarket Woods One Bedroom1BR,1BA$671
Chesterfield ApartmentsTHE MULBERRY FLOOR PLAN - SUITE II3BR,1BA$807
Kingly Ones and Briarwood Court Apartments1 Bedroom1BR,1BA$825
City View Place2 Bedroom Unit2BR,1BA$835
Imperial Living Propco LLCStudioStudio,1BA$835
Bloom Apartments II1Bed/1Bath: 463 sq ft1BR,1BA$899

Best Value Apartments for Rent in Richmond, VA

As of September 11, 2025 the best value apartment in the Richmond area is the $0.44 price per square foot 201 W 12th St Model at 201 W 12th St in the in the Old South neighborhood starting from $750. The second greatest value Richmond apartment is the 4x2 - Priced Per Bedroom Model at Marshall Park starting at $699 with a $0.47 price per square foot in the Downtown Richmond neighborhood. Here is today’s list of the best values for Richmond apartments based on price per square foot:

Apartment ListingModel NameBed/BathPrice Per Sq.Ft.
201 W 12th St201 W 12th St3BR,3BA$0.44
Marshall Park4x2 - Priced Per Bedroom4BR,2BA$0.47
Lofts and Upper Lofts at Canal WalkCanal 236 2 BedsStudio ,1BA$1.00
Cabin Creek Apartments2 Bedroom, 1.5 Bath2BR,1.5BA$1.24
Townhouses of Chesterfield IIWood II2BR,1.5BA$1.13
Venus At Manchester Apartments2 -Bedroom, 2-Bath2BR,2BA$1.02
Hatcher Tobacco Flats3X23BR,2BA$1.23
City View Place2 Bedroom Unit2BR,1.5BA$0.90
Belle SummitRainer2BR,2BA$1.21
1822 Williamsburg Rd2 Beds, 1 Baths2BR,1BA$1.24

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.

decorative image of people with a giant lease agreement

Pet Friendly Lifestyle
Richmond, VA

Ranked #6

Among cities in Virginia for Apartment listings with Pet Friendly Amenities.

Pet Friendliness Lifestyle Score

3.5
Pet Friendly

decorative image of woman handing cat to small boy

Remember the 3 Rules of Real Estate:
Location, Location, Location!

Explore Richmond, VA Rentals by Map

Decorative image of map

See the most popular apartments and homes in Richmond, VA

View Map
Richmond, VA Apartments Map
View Map
Richmond, VA Rental Homes Map

Richmond, VA Area Reviews

  • Cost of Living

Robin

February 25, 2025

All my life

Frequently Asked Questions about Richmond

What type of rentals are currently available in Richmond?

There are currently 1517 Apartments for Rent in Richmond, VA with pricing that ranges from $500 to $11,515. There are also 460 Single Family Homes for rent, Condos, and Townhome rentals currently available in Richmond ranging from $725 to $5,495.

What is the current price range for Rental Homes in Richmond?

Today's rental pricing for Homes for Rent, Condos and Townhomes in Richmond ranges from $725 to $5,495 with an average monthly rent of $2,069.

How much are larger Three and Four Bedroom Rentals in Richmond?

For those who are looking for larger living arrangements, Three Bedroom Apartments in Richmond range from $699 to $10,956, while Three Bedroom Homes, Condos, and Townhomes for rent range from $1,200 to $4,999. Four Bedroom Single-Family rentals are also available starting from $800 and Four Bedroom Apartments start at $599.

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.

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.

decorative image for Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between article

Your Guide to Co-Signers: The Risks, Rewards, and Everything in Between

Written by: Christine Leonard, Esq.

For many people, obstacles can arise during the rental application process for a variety of issues.

decorative image for The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro article

The Ultimate Long-Distance Moving Checklist: Tips from a Real Estate Pro

Written by: Christine Leonard, Esq.

Hard truth. Moving is never easy. I’ve done it all – from local moves to cross-country relocations From packing to unpacking the last box, I have found moving to be an exhausting, expensive and stressful experience every time.