Cheap Apartments for Rent in the Oakwood Neighborhood of Richmond, VA from $500 (47 Rentals)

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

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The Masonry Apartments
Rent Specials
$995 - $1,500
Total Monthly Price

Total Monthly Price

Base Rent
$904 - $1,409
Required Monthly Fees
$91

Total Monthly Price
$995 - $1,500
Studio to 3 Bedroom Apartments Available Now

The Masonry Apartments

2001 E Franklin StRichmond, VA 23223
Student Housing
  • Verified
  • Customer Reviewed
  • Low Income
property at 925 N 20th St

$925 - $995

2 Bedroom Rentals

Available Now

925 N 20th St

RichmondVA23223
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1619 N 28th St
$1,000 - $2,400
Total Monthly Price

Total Monthly Price

Base Rent
$1,000 - $2,400

Total Monthly Price
$1,000 - $2,400
1 Bedroom Apartments Available Now

1619 N 28th St

1619 N 28th StRichmond, VA 23223
Furnished
  • Verified
  • Utilities Included
  • Smoke Free

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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Townsend Square
$1,050
Total Monthly Price

Total Monthly Price

Base Rent
$1,050

Total Monthly Price
$1,050
2 Bedroom Apartments Available Feb 20

Townsend Square

2153 Cool LnRichmond, VA 23223
Cost Per Sq.Ft.
  • Verified
  • Customer Reviewed
  • Utilities Included

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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The Shockoe Collection
$1,099 - $2,399
Total Monthly Price

Total Monthly Price

Base Rent
$949 - $2,249
Required Monthly Fees
$150

Total Monthly Price
$1,099 - $2,399
1 to 3 Bedroom Apartments Available Now

The Shockoe Collection

104 Shockoe SlipRichmond, VA 23219
Transit Friendly
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The Carlisle
2 Bedroom Apartments

The Carlisle

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

Jefferson Mews

600 Jefferson AveRichmond, VA 23223
  • Utilities Included
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Market Slip
1 to 2 Bedroom Apartments

Market Slip

2 S 17th StRichmond, VA 23219
  • Utilities Included
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101 Poe St
2 Bedroom Apartments

101 Poe St

101 Poe StRichmond, VA 23222
  • Utilities Included

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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Tracks at the Masonry
Studio to 2 Bedroom Apartments

Tracks at the Masonry

1716 E Cary StRichmond, VA 23223
  • Utilities Included
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The Rosa
1 Bedroom Apartments

The Rosa

744 N 2nd StRichmond, VA 23219
Senior Living
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Ashley Oaks Apartments
2 to 3 Bedroom Apartments

Ashley Oaks Apartments

1400 Jennie Scher RdRichmond, VA 23231
  • Utilities Included
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1822 Williamsburg Rd
Studio to 2 Bedroom Apartments

1822 Williamsburg Rd

1822 Williamsburg RdRichmond, VA 23231
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Tobacco Landing
1 to 2 Bedroom Apartments

Tobacco Landing

2701 E Main StRichmond, VA 23223
  • Utilities Included

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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Market Villas
1 to 3 Bedroom Apartments

Market Villas

15 N 18th StRichmond, VA 23223
  • Utilities Included
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Cedar Broad
1 to 3 Bedroom Apartments

Cedar Broad

1820 E Broad StRichmond, VA 23223
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Mallard Greens
1 to 3 Bedroom Apartments

Mallard Greens

2852 Fairfield AveRichmond, VA 23223
  • Utilities Included
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Wynwood Apartments
2 Bedroom Apartments

Wynwood Apartments

1209-1267 Nelson StRichmond, VA 23231
  • Utilities Included
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Old Stone Row
1 to 2 Bedroom Apartments

Old Stone Row

2001 E Franklin StRichmond, VA 23223
  • Utilities Included
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1808 Williamsburg Rd
Studio to 1 Bedroom Apartments

1808 Williamsburg Rd

1808 Williamsburg RdRichmond, VA 23231

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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Engine at The Masonry
1 to 2 Bedroom Apartments

Engine at The Masonry

2026 E Main StRichmond, VA 23223
  • Utilities Included

Oakwood, Richmond, VA Local Guide

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 ListingModel NameBed/BathPriced From
Creighton Renaissance ApartmentsOne Bedroom - D1BR,1BA$770
The Masonry ApartmentsMasonry TS-S1Studio,1BA$995
Jefferson Townhouses1X11BR,1BA$1,000
1619 N 28th St1 Bed 1 Bath - Furnished1BR,1BA$1,000
Cedar BroadA2b1BR,1BA$1,045
New Manchester FlatsThe Decatur1BR,1BA$1,079
Flats at 14th0 Bedroom 1 Bath - 35312Studio,1BA$1,081
The Shockoe Collection1 Bed 1 Bath1BR,1BA$1,099
Mallard GreensHome is Where The ?? Is...Now Leasing!!2BR,1BA$1,103
The Collection at American Tobacco CenterSCommons-A41BR,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 ListingModel NameBed/BathPrice Per Sq.Ft.
Creighton Renaissance ApartmentsThree Bedroom3BR,2BA$1.46
10 Walnut Alley2 Bedroom 2 Bath - 300042BR,2BA$1.32
Raven PlaceB1.12BR,2BA$1.47
Lofts and Upper Lofts at Canal Walk IIIOne Bedroom1BR,1BA$1.25
Honey BrookCastle2BR,2BA$1.19
Lawndale FarmsSands2BR,1BA$1.35
The Watkins at ShockoeThe Watkins - Shiplock (One Bedroom)1BR,1BA$1.49
Mallard GreensHome is Where The ?? Is...Now Leasing!!2BR,1BA$1.33
Shockoe CenterSCenter-A111BR,1BA$1.49
Lofts and Upper Lofts at Canal Walk - Canal I and Canal IICanal 236 StudioStudio ,1BA$1.54

Don't Settle: How to Negotiate Your Apartment Lease and Save Money

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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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Pet Friendly Lifestyle
Oakwood, Richmond, VA

Ranked #74

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

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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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

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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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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.

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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.