
Cheap Apartments for Rent in the Oakwood Neighborhood of Richmond, VA from $500 (47 Rentals)
Search the lowest-cost Apartments available for rent right now in the Oakwood area of Richmond.


2001 East

1705 Lamb Ave

Total Monthly Price
4600 Chipoax Ave, Unit 4600 Chipoax Ave

1814 Williamsburg Rd

Total Monthly Price
The Masonry Apartments

925 N 20th St

Jefferson Townhouses

Total Monthly Price
1619 N 28th St
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.

Flats at 25th

The Attain

Total Monthly Price
Townsend Square

927 N 20th St

New Manchester Flats

Flats at 14th

Honey Brook

Pointe at River City

South Bank
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.

2105 Phaup St

Total Monthly Price
The Shockoe Collection

Total Monthly Price
The Collection at American Tobacco Center

Shockoe Hill Senior Apartments 62 plus*

The Carlisle

Jefferson Mews

Market Slip

Apartments At Kingsridge

101 Poe St
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.

Tracks at the Masonry

Bacon Retirement Community

The Rosa

Bowler Retirement Community

Carter Woods - 62 + Better Senior Community

Ashley Oaks Apartments

Beckstoffer's Mill Lofts

1822 Williamsburg Rd

Tobacco Landing
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.

Market Villas

Cedar Broad

Mallard Greens

Wynwood Apartments

Old Stone Row

Terrace at the Masonry

Lofts and Upper Lofts at Canal Walk - Canal I and Canal II

Lofts and Upper Lofts at Canal Walk III

1808 Williamsburg Rd
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.

Engine at The Masonry

Shockoe Collection
Oakwood, Richmond, VA Local Guide

How much does it cost to rent an apartment in Oakwood?
| Bedroom | Average Rent | Cheapest Rent | Highest Rent |
|---|---|---|---|
| Oakwood Studio Apartments | $1,258 | $871 | $2,409 |
| Oakwood 1 Bedroom Apartments | $1,503 | $770 | $2,400 |
| Oakwood 2 Bedroom Apartments | $1,678 | $916 | $2,638 |
| Oakwood 3 Bedroom Apartments | $2,046 | $1,327 | $2,699 |
| Oakwood 4 Bedroom Apartments | $1,620 | $1,620 | $1,620 |
Browse Apartments in this Neighborhood
There are currently 47 rentals with your search options within a 2 mile radius of the Oakwood Neighborhood of Richmond, VA.
See all Apartments in RichmondExplore Richmond
Oakwood, Richmond, VA Local Guide
- Nearby Richmond neighborhoods
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Cheapest Available Oakwood Apartments for Rent
 The cheapest available apartment rental in the Oakwood area of Richmond, VA is a 1 Bed unit found at Creighton Renaissance Apartments priced from $770. The Masonry Apartments has the second lowest priced unit, which is a Studio apartment currently listed from $995. Here are the most affordable Oakwood apartments for rent in Richmond, VA:
| Apartment Listing | Model Name | Bed/Bath | Priced From |
|---|---|---|---|
| Creighton Renaissance Apartments | One Bedroom - D | 1BR,1BA | $770 |
| The Masonry Apartments | Masonry TS-S1 | Studio,1BA | $995 |
| Jefferson Townhouses | 1X1 | 1BR,1BA | $1,000 |
| 1619 N 28th St | 1 Bed 1 Bath - Furnished | 1BR,1BA | $1,000 |
| Cedar Broad | A2b | 1BR,1BA | $1,045 |
| New Manchester Flats | The Decatur | 1BR,1BA | $1,079 |
| Flats at 14th | 0 Bedroom 1 Bath - 35312 | Studio,1BA | $1,081 |
| The Shockoe Collection | 1 Bed 1 Bath | 1BR,1BA | $1,099 |
| Mallard Greens | Home is Where The ?? Is...Now Leasing!! | 2BR,1BA | $1,103 |
| The Collection at American Tobacco Center | SCommons-A4 | 1BR,1BA | $1,149 |
Best Value Apartments for Rent in Oakwood, VA
As of February 18, 2026 the best value apartment in the Oakwood area is the $1.46 price per square foot Three Bedroom Model at Creighton Renaissance Apartments in the in the East neighborhood starting from $1,891. The second greatest value Oakwood apartment is the 2 Bedroom 2 Bath - 30004 Model at 10 Walnut Alley starting at $1,655 with a $1.32 price per square foot in the Downtown Richmond neighborhood. Here is today’s list of the best values for Oakwood apartments based on price per square foot:
| Apartment Listing | Model Name | Bed/Bath | Price Per Sq.Ft. |
|---|---|---|---|
| Creighton Renaissance Apartments | Three Bedroom | 3BR,2BA | $1.46 |
| 10 Walnut Alley | 2 Bedroom 2 Bath - 30004 | 2BR,2BA | $1.32 |
| Raven Place | B1.1 | 2BR,2BA | $1.47 |
| Lofts and Upper Lofts at Canal Walk III | One Bedroom | 1BR,1BA | $1.25 |
| Honey Brook | Castle | 2BR,2BA | $1.19 |
| Lawndale Farms | Sands | 2BR,1BA | $1.35 |
| The Watkins at Shockoe | The Watkins - Shiplock (One Bedroom) | 1BR,1BA | $1.49 |
| Mallard Greens | Home is Where The ?? Is...Now Leasing!! | 2BR,1BA | $1.33 |
| Shockoe Center | SCenter-A11 | 1BR,1BA | $1.49 |
| Lofts and Upper Lofts at Canal Walk - Canal I and Canal II | Canal 236 Studio | Studio ,1BA | $1.54 |
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.
Read ArticleThe 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 ArticleCash 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 ArticleThe 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
Read ArticleQuick 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.
Pet Friendly LifestyleOakwood, Richmond, VA
Ranked #74
Among cities in Virginia for Apartment listings with Pet Friendly Amenities.
Pet Friendliness Lifestyle Score
4.0Pet Friendly
Best Local Schools in Oakwood, Richmond, VA
Martin Luther King Jr. Middle
School data provided by Great Schools
Lifestyle Ratings
ApartmentHomeLiving brings you our detailed rental search system called 'Lifestyle ratings', composed of rentals and neighborhoods across the USA, including Oakwood, Richmond, and the greater Richmond area. Lifestyle Ratings show you the best fit for your needs and interests. This takes in many factors including rankings of the best places for the best outdoor access, luxury amenities, pet-friendly features, family-friendliness, proximity to transit, and other valuable search options. Find Lifestyle Search in the filter options (above). Happy Searching!
Frequently Asked Questions about Cheap Oakwood Apartments
What is a cheap apartment in Oakwood?
A cheap apartment is any apartment up to the 30% percentile of cost for the area, which in Oakwood is under $1,149.
What is the price of a cheap apartment in Oakwood?
The cheapest apartment in Oakwood is Creighton Renaissance Apartments which is listed at $770, while the average apartment in Oakwood costs $1,994.
What types of apartments are the cheapest in Oakwood?
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 75 regular apartments in Oakwood 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 Oakwood?
Cheap apartments in Oakwood have an average cost of $732 which is $1,262 cheaper than the average rent for all rentals in Oakwood.
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

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.

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.

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

Maximizing Your Refund: Essential Tax Tips for Renters
Written by: Christine Leonard, Esq.
Other than tax professionals, I can’t think of anyone who looks forward to tax season. For everybody else, April is a stressful month to collect information and meet deadlines.

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.

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.

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.