A Local Expert's Guide To the Top Budget-Friendly Neighborhoods to Rent in Richmond, VA

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. But it’s also important to remember that Richmond isn’t just a fun and exciting city; it’s also a very affordable one. I’ve always been amazed at how much lower the cost of living is in Richmond compared to similar-sized East Coast cities. If you're trying to decide which of Richmond’s many neighborhoods are the best for you to live in, I’m here to share my picks for the best and most affordable!

Newtowne West

Friendly and accessible with a lively urban environment, Newtowne West is just 10 minutes northwest of Downtown Richmond. Being bounded by I-64 and West Broad Street makes it convenient and well-connected.

Newtowne West has some charming residential blocks nestled among more commercial areas; major retailers in the area include Whole Foods and Lowe’s Home Improvement. What I really love about Newtowne West is what’s around it. Folks who live in this neighborhood are a stone’s throw from the Museum District, all the awesome breweries in Scott's Addition, and the shops and restaurants of the neighboring Fan District.

Newtowne West is just a block away from Virginia Union University, making it a popular place to find affordable student rentals. It’s also home to the excellent Maggie L. Walker Governor's School, which has a four-star rating on GreatSchools.

Southern Barton Heights

I have a real soft spot for Southern Barton Heights. Mostly settled during the late 1800s and early 1900s, this neighborhood is packed with beautiful, historic homes that are shockingly affordable. This area feels like a real up-and-coming neighborhood, with lots of friendly neighbors and a tight-knit community of working-class families.

A former streetcar suburb, Southern Barton Heights is less than 2 miles north of Downtown and well-connected by public transportation along North Avenue/St. James Street. In the 90s, this was considered one of Richmond’s worst neighborhoods, but the transformation has been really amazing. The comeback of Southern Barton Heights has been incredible to witness.

Scott's Addition

Let’s hear it for Scott's Addition! Once virtually forgotten about, this little corner of Richmond has become one of the hippest and most desirable neighborhoods in the city. And it’s not hard to see why. With former warehouses and industrial buildings adorned with murals and transformed into loft apartments and thriving businesses, this is a prime example of urban renewal at its best.

What’s surprising about Scott's Addition is how affordable it still is. There are great apartments in Scott's Addition, and with a location nooked between Boulevard Street and Broad Street, it’s easy to get anywhere in the city.

Of course, what Scott's Addition is really known for is beer. This neighborhood has been the epicenter of Richmond’s exploding craft brewing scene, and some of the best breweries in Virginia are within walking distance of each other. It’s just an all-around fun, exciting neighborhood.

Sherwood Park

I love the vibe in Sherwood Park. This is an old, well-established neighborhood with quiet residential streets dotted with some of the most lovely historic brick houses you’ve ever seen. It’s a great family-friendly neighborhood that’s part of the larger Northside area of Richmond. Safe, walkable and affordable, Sherwood Park is very much a hidden gem.

And great news for families with kids, the highly-rated Richmond Waldorf School, with a four-star GreatSchools rating, is located in Sherwood Park. Another unique landmark in Sherwood Park is the Chrysalis Institute Outdoor Labyrinth, a beautiful public park designed for meditation.

Highland Terrace

Let’s not make the mistake of ignoring Highland Terrace, a little wedge-shaped neighborhood on Richmond’s Northside. Highland Terrace has the feel of a neighborhood in transition, and I predict that it’s going to continue to rise over the coming years. That’s not to say that it isn’t a great area to live right now!

Not only is it a place where you can buy or rent a big house with a beautiful yard on the cheap, but Highland Terrace is also close to some really cool stuff. I love Hotchkiss Park, a picturesque green space on the neighborhood’s southern edge. Highland Terrace also has multiple public transportation routes, making it easy to get to Downtown Richmond and elsewhere.

Bryan Park

There are times when I just want to get away from city life, and when that mood strikes, one of my favorite spots is Bryan Park. This off-the-beaten-path in Richmond’s Northside is anchored by its namesake park, a 262-acre green space with woods, meadows, hiking trails and even a butterfly garden.

It’s enclosed on three sides by I-64 and I-95, so even though the park and neighborhood are actually very well-connected, they feel like they’re a million miles away from hustle and bustle. Bryan Park also abuts Lakeside, a beautiful suburb that also offers some great affordable options along with excellent schools.

Ginter Park Terrace

Ginter Park Terrace is a small neighborhood made up of quiet, tree-lined streets and homes. It’s charming, safe, and the kind of place where you can walk your dog or ride your bike along the charming residential streets. It’s a well-established neighborhood with lots of beautiful old historic homes.

Several top-rated schools are nearby, including Richmond Waldorf School and Barack Obama Elementary. Ginter Park Terrace is right alongside Chamberlayne Avenue, which makes it an easy drive or bus ride to downtown. Pollard Park offers great public amenities, including a pool, and nearby Brookland Park Boulevard is lined with some of my favorite little neighborhood shops and eateries.

Highland Park Southern Tip

There’s a lot to love about Highland Park, a large Richmond neighborhood that is often considered to be a collection of smaller neighborhoods—Highland Park Southern Tip being one of them. This historic neighborhood is known for its diversity and architecture, and also for being both kid-friendly and dog-friendly. The Cannon Creek Greenway is one of my favorite bike riding and dog walking spots in this area.

Highland Park Southern Tip is nestled between the Richmond Henrico Turnpike and I-64, so it’s easy to get around. You’re 10 minutes from downtown and 15 minutes from the airport, and also really close to other cool neighborhoods like Jackson Ward, Church Hill and Shockoe Bottom.

Laburnum Park

“Cozy” and “charming” are words I often hear used to describe Laburnum Park. Much like neighboring Sherwood Park and Ginter Park, this is a historic neighborhood that was connected to downtown via streetcar in the late 19th century, earning them the moniker “streetcar suburbs.” Today, it’s simply a lovely neighborhood with lots of mature trees and great old Queen Anne and colonial-style houses.

Laburnum Park is home to the Veritas School, one of the top schools in Richmond with a 5-star rating at GreatSchools. I love this area because it's quiet and safe, but also really close to a lot of cool stuff. The Diamond baseball stadium is just a couple of blocks away, and the Museum District and Scott's Addition aren’t much further.

Rosedale

Rosedale kind of flew under the radar for a long time, and in a way, it still does. But it’s also starting to catch on as a cool place to live in Richmond that is also very affordable. Resedale has especially gotten more interest due to its proximity to the growing Scott's Addition area nearby.

This peaceful little residential neighborhood on the Northside is both secluded and convenient to all the attractions in Midtown and Downtown. Other than Laburnum Avenue, there aren’t any major thoroughfares through the Rosedale neighborhood, which keeps traffic and noise to a minimum. Rosedale is made up of cute mid-century cottages and bungalows for the most part, and it’s also right next to the beautiful Bryan Park.