Cheap Apartments for Rent in the Oakwood Neighborhood of Richmond, VA from $500 (62 Rentals)

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

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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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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Darby House
1 to 2 Bedroom Apartments

Darby House

1400 Shirleydale AveRichmond, VA 23231
Senior Living
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Shockoe Center
1 to 2 Bedroom Apartments

Shockoe Center

1900 E Franklin StRichmond, VA 23223
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101 Poe St
2 Bedroom Apartments

101 Poe St

101 Poe StRichmond, VA 23222
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Market Slip
1 to 2 Bedroom Apartments

Market Slip

2 S 17th StRichmond, VA 23219
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The Rosa
1 Bedroom Apartments

The Rosa

744 N 2nd StRichmond, VA 23219
Senior Living

Richmond’s Best Affordable Neighborhoods

Learn about Richmond and the best affordable places to live by our Local Expert Richard Corrigan

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The Dill Building
1 to 2 Bedroom Apartments

The Dill Building

2020 E Franklin StRichmond, VA 23223
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Ashley Oaks Apartments
2 to 3 Bedroom Apartments

Ashley Oaks Apartments

1400 Jennie Scher RdRichmond, VA 23231
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The Hill Building
1 to 2 Bedroom Apartments

The Hill Building

114 Virginia StRichmond, VA 23219
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Shockoe Commons
1 to 2 Bedroom Apartments

Shockoe Commons

1209-1211 E Main StRichmond, VA 23223
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Wynwood Apartments
2 Bedroom Apartments

Wynwood Apartments

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

Old Stone Row

2001 E Franklin StRichmond, VA 23223
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Navigating the Rental Market: Tips for First-Time Renters

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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 2 Beds unit found at New Manchester Flats priced from $837. 2001 East has the second lowest priced unit, which is a 1 Bed apartment currently listed from $925. Here are the most affordable Oakwood apartments for rent in Richmond, VA:

Apartment ListingModel NameBed/BathPriced From
New Manchester FlatsThe Bainbridge2BR,1BA$837
2001 EastA31BR,1BA$925
Pointe at River CitySilver2BR,1BA$1,014
Shockoe CommonsA21BR,1BA$1,075
1407 E Cary Street1 Beds, 1 Baths1BR,1BA$1,099
Mallard GreensTWO BEDROOMS JUST FOR YOU!! AVAILABLE NOW - WH...2BR,1BA$1,103
Attain ShockoeGinter1BR,1BA$1,105
The Corner Lofts - 1321 E. Main St.1BR/1.0BA1BR,1BA$1,122
The Lofts at Shockoe SlipThe Lofts at Shockoe Slip 208Studio,1BA$1,149
The OliverThe Virginia1BR,1BA$1,150

Best Value Apartments for Rent in Oakwood, VA

As of June 05, 2025 the best value apartment in the Oakwood area is the $1.47 price per square foot B1.1 Model at Raven Place in the in the Downtown Richmond neighborhood starting from $1,730. The second greatest value Oakwood apartment is the One Bedroom, One Bathroom Model at Consolidated starting at $1,535 with a $1.48 price per square foot in the East 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.
Raven PlaceB1.12BR,2BA$1.47
ConsolidatedOne Bedroom, One Bathroom1BR,1BA$1.48
1407 E Cary Street1 Beds, 1 Baths1BR,1BA$1.11
New Manchester FlatsThe Stockton2BR,2.5BA$1.53
Lawndale FarmsTwo bedroom2BR,1BA$1.40
1710 East Franklin Street1BR/1.0BA1BR,1BA$1.57
Mallard GreensTWO BEDROOMS JUST FOR YOU!! AVAILABLE NOW - WH...2BR,1BA$1.33
Pointe at River CityDiamond2BR,1BA$1.39
Jefferson Townhouses2x12BR,1BA$1.63
Flats at 25thCompass1BR,1BA$1.64

Quick Rent Budget Calculator

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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
Oakwood, Richmond, VA

Ranked #61

Among neighborhoods in Richmond, VA for Apartment listings with Pet Friendly Amenities

Pet Friendliness Lifestyle Score

4.0
Pet Friendly

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Best Local Schools in
Oakwood, Richmond, VA

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!

Getting Around the Oakwood Neighborhood in Richmond, VA

Walk Score®

30 / 100

Car-Dependent

Most errands require a car

Bike Score®

40 / 100

Somewhat Bikeable

Minimal bike infrastructure

Transit Score®

36 / 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 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 $1,150.

What is the price of a cheap apartment in Oakwood?

The cheapest apartment in Oakwood is 2001 East which is listed at $925, while the average apartment in Oakwood costs $1,969.

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 96 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 $477 which is $1,492 cheaper than the average rent for all rentals in Oakwood.

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.

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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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The Art of the Rental Viewing: What to look for during a property tour

Written by: Marie Brown

You’ve scrolled through countless listings, walked through a blur of rentals, and finally found what feels like the one. The pictures? Fantastic. The neighborhood seems just right.

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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.

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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.